12 GCA AUTONOMOUS AGENCIES CH. 62 LAND CLAIMS REBATE CHAPTER 62 LAND CLAIMS REBATE NOTE: P.L. 19-19:25 added a new Article 4.1 to this Chapter; the Compiler has renumbered it to Chapter 62

§ 62100

§ 62101

§ 62102

§ 62103

§ 62104

§ 62105

§ 62106

§ 62107

Limited Qualifying Certificate

Same: Eligibility

Same: Rescission

Same: Application

Rebate

Same: Claim

Rules

Fee

§ 62100. Limited Qualifying Certificate

A Limited Qualifying Certificate is an instrument valid for not more than two (2) years issued by the Chairman of the Board upon recom- mendation of the Board to a beneficiary who has qualified for a tax rebate under this Chapter

SOURCE: Added by P.L. 19-19:25

§ 62101. Same: Eligibility

Any person shall be eligible for a Limited Qualifying Certificate who has received compensation for land takings from the United States pursuant to the Omnibus Territories Act of 1977 (the Act)

SOURCE: Added by P.L. 19-19:25

§ 62102. Same: Rescission

A Limited Qualifying Certificate may be rescinded for fraud or misrepresentation of any material allegation in the application for such Certificate

SOURCE: Added by P.L. 19-19:25

§ 62103. Same: Application

Applications for Qualifying Certificates shall be filed on forms prescribed and furnished by the Corporation

SOURCE: Added by P.L. 19-19:25

COL120106 1 12 GCA AUTONOMOUS AGENCIES CH. 62 LAND CLAIMS REBATE § 62104. Rebate

Each beneficiary of the Limited Qualifying Certificate shall receive a rebate of one hundred percent (100%) of all income tax paid to the government of Guam on any payment by the United States as compensa- tion for land taking pursuant to the Act

SOURCE: Added by P.L. 19-19:25

§ 62105. Same: Claim

To claim the rebate, the Beneficiary shall attach a certified true copy of the Limited Qualifying Certificate to his Guam income tax return when filing it. The amount of tax due prior to rebate shall be deposited with the Treasurer of Guam at the time of filing the income tax return. The Director of Revenue and Taxation shall thereafter cause the return to be reviewed and audited, and if the rebate is found in order, shall cause the amount deposited to be returned to the taxpayer within sixty (60) days from the date of the deposit

SOURCE: Added by P.L. 19-19:25

§ 62106. Rules

The Director of Revenue and Taxation may issue such rules as are deemed necessary to implement the procedures outlined in this Chapter. SOURCE: Added by P.L. 19-19:25

§ 62107. Fee

An application fee of Five Dollars ($5) shall accompany each application for a Limited Qualifying Certificate

SOURCE: Added by P.L. 19-19:25

---------- COL120106 2