Guam § 51103 - Expenditures from the Trust Fund.

§ 51103. Expenditures from the Trust Fund.

In order for I Liheslaturan Guåhan to make the proper legislative

appropriation pursuant to § 51101(a) of this Chapter, the Tax

Commissioner shall submit to I Liheslaturan Guåhan [Guam

Legislature] on the 15th day of January each year a detailed budget

request of itemized cost of allowable expenditure, for an appropriation

from the earnings of the Trust Fund. All interest and investment

earnings from the Trust Fund pursuant to § 51101(b) of this Chapter shall

be exclusively expended for the following purposes:

(a) Notwithstanding other provisions of law, the Department

of Revenue and Taxation is hereby authorized to either enter into

contracts with temporary income tax returns processors

(‘processors’), or to hire seasonal employees, as deemed necessary

by the Tax Commissioner anytime during the period of filing dates

established by the Internal Revenue Service for a period of not more

than three (3) months to process income tax returns.

(1) The Department of Revenue and Taxation shall

prioritize the processing of income tax returns according to

their filing date.

(2) The Department of Revenue and Taxation shall

submit to I Liheslaturan Guåhan [Guam Legislature] a

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11 GCA FINANCE & TAXATION

PAYMENT TRUST FUND ACT OF 2002

monthly report on the status of the income tax processing,

which shall include the following:

(A) number of income tax returns processed;

(B) number of income tax refunds issued and the total

dollar amount;

(C) number of income tax returns waiting to be

processed;

(D) expected date of completion for the processing of

income tax returns pending; and

(E) any other pertinent information.

(b) Proper training of employees hired pursuant to Subsection

(a) of this Section.

(c) Computers and other equipments necessary to quickly

process the income tax returns.

NOTE: Pursuant the authority granted by 1 GCA § 1606, numbers and/or letters

were altered to adhere to the Compiler’s alpha-numeric scheme.