Tax report on tobacco stamping incidents (language only)

Item 269 #1s

Language
Page 215, following line 29, insert:
"C.1. The Virginia Department of Taxation shall report, as provided in paragraph C.2. below, to the Governor, the Virginia State Crime Commission and the Chairmen of the Senate Finance and House Appropriations Committees regarding the number and total cost of incidents arising during stamping operations in Virginia, brought to their attention by Virginia authorized stamping agents, law enforcement officials or others, that result in the stamping agents incurring a cost equal to or greater than $500.  Cost means damaged tax stamps, loss of productivity due to heat application setting modifications and financial technical assistance required to modify heat application operations.
2. The Department of Taxation shall report on a quarterly basis beginning on July 1, 2014 and concluding on June 30, 2015, as provided in paragraph 1, the number and total cost of incidents arising during Virginia tax stamping operations that are brought to its attention in the immediately preceding quarter.  Provided, however, the July 1, 2014 report shall include incidents arising between April 1, 2014 and June 30, 2014.  All information provided to the Department of Taxation regarding incidents shall remain exempt as provided under the Freedom of Information Act."

Explanation
(This amendment requires the Department of Taxation to report to the Crime Commission and the Chairmen of the Senate Finance and House Appropriations Committees on any irregularities that may occur during the authorized stamping of tobacco products that cause stamping agents to incur costs above $500.)