HB2: AN ACT relating to the taxation of currency and bullion currency and declaring an emergency.

Legislative Summary

Create a new section of KRS Chapter 139 to create a violation when an official notice published by the secretary of the Finance and Administration Cabinet or the commissioner of the Department of Revenue improperly instructs that taxpayers should continue to collect and remit sales and use tax on currency or bullion currency, allow the taxpayer to file an action for refund in Circuit Court, and entitle the taxpayer to interest, injunctive relief, attorney's fees and costs, and liquidated damages of $1,000 for each day that the violation occurred; RETROACTIVE; EMERGENCY.