Tax revenue credited to suspense account
- • refunds
(1) The revenue from the taxes levied by ORS 321.005 (Definitions for ORS 321.005 to 321.185, 321.560 to 321.600 and 477.440 to 477.460) to 321.185 (Forest Research and Experiment Account) and 321.560 (Audit of returns) to 321.600 (Tax as debt) shall be remitted to the State Treasurer who shall deposit it in a suspense account established under the provisions of ORS 293.445 (Definition for ORS 293.445 to 293.460).
(2) Notwithstanding the provisions of ORS 291.238 (Expenditures without allotment prohibited), the amount of moneys necessary to pay refunds of the taxes levied under ORS 321.015 (Levy of privilege tax upon harvest of timber for forest research, fire suppression and administering Oregon Forest Practices Act) (1) to (3) hereby is appropriated continuously to the Department of Revenue from the suspense account referred to in subsection (1) of this section, and shall be used by the department for the payment of all refunds of taxes levied under ORS 321.015 (Levy of privilege tax upon harvest of timber for forest research, fire suppression and administering Oregon Forest Practices Act) (1) to (3) that have been audited and approved by the department. Any penalties, interest and taxes then due from the taxpayer shall be applied in that order in computing any refund, and only the balance due the taxpayer, if any, shall be refunded. The department shall on its records charge each refund against the revenue from the tax with respect to which the refund is made. [1953 c.375 §16; 1957 c.309 §4; 1957 c.528 §6; 1961 c.270 §1; 1985 c.759 §16; 1999 c.968 §3; 2003 c.769 §3]
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