§1561.2.  Special authority to recover rebates and refundable tax credits

A.  Rebates or refundable tax credits previously granted to a taxpayer, but later disallowed, may be recovered by the secretary through any collection remedy authorized by R.S. 47:1561 and initiated within the latter of any of the following:

(1)  Two years from December thirty-first of the year in which the rebate or refundable tax credit was paid.

(2)  Three years from December thirty-first of the year in which the taxes for the filing period were due.

(3)  The time period for which prescription has been extended, as provided by R.S. 47:1580.

B.  The only interest which may be assessed and collected on recovered refundable tax credits amounts is interest at a rate three percentage points above the rate provided in Civil Code Article 2924(B)(1), which shall be computed from the date of issuance to the date payment is received by the secretary.

C.  The only interest which may be assessed and collected on recovered rebates is interest at a rate three percentage points above the rate provided in Civil Code Article 2924(B)(1), which shall be computed beginning on the date one year after the date of issuance of the rebate to the date payment is received by the secretary.

D.  The provisions of this Section are in addition to and shall not limit the authority of the secretary to assess or to collect under any other provision of law.

Acts 2001, No. 1060, §1, eff. June 28, 2001.