Chief Patron: Ebbin
Tax refund check (language only)

Item 465 #1s

Language
Page 396, strike lines 12-16 and insert:
"C.1.  For taxable year 2014 and thereafter, the Tax Commissioner and the State Comptroller shall implement procedures to allow an individual requesting a refund for the overpayment of individual income tax when filing his individual income tax return to elect on such return to have the refund paid by check mailed to the address provided on his return. The ability of the individual to elect such refund check shall be in addition to other methods utilized by the State Comptroller for the payment of such refund, including but not limited to debit cards, direct deposits, or other electronic means. However, if the individual makes no election on his individual income tax return as to the method of payment of such refund, the refund shall be paid by check mailed to the address provided on his return.
2. Any debit card contract between the Department of Treasury and a debit card provider for tax refunds issued on or after January 1, 2015, shall be governed by the following terms:
In-network ATM withdrawal: No fee
Out-of-network ATM withdrawal: At least one free use per month.  Subsequent uses would cost no more than $1.50 per useIn-network account balance inquiry: No feeOut-of-network account balance inquiry: At least one free use per month.  Subsequent uses would cost no more than $0.50 per useBank teller cash withdrawal: No fee at banks where the debit card is accepted
Transfer to a U.S. bank account (via automated phone system or web transfer): No fee for in-network banking institutions.  Transactions with out-of-network banks would cost no more than $0.75 per transaction
In-network bank or ATM denial of withdrawal: No feeIdle card fee: Taxpayers will be given at least 24 months between card uses before being cited an idle card fee.  After 24 months, a fee no greater than $1.00 per month would be charged
Card replacement: No fee for the first card replacement.  Subsequent card replacements would cost no more than $4.00Account access and customer service via telephone: No fee and no limit on the number of calls allowed."

Explanation
(This amendment requires that taxpayers be given the option of receiving their income tax refund by check for returns filed on or after January 1, 2015, and that any debit card contract in place at that time be governed by the specified limits on transaction fees. A companion amendment to Item 274 reinstates the funds that were projected to be saved from the mandatory direct deposit, debit card or other electronic transaction system that currently is in place.)