Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Revenue and Taxation Code

Other Taxes

Part 6. Private Railroad Car Tax

Chapter 5. Overpayments and Refunds

Article 2. Suit for Refund

Section 11576

11576. Interest. In any judgment, interest shall be allowed at the adjusted annual rate established pursuant to Section 19521 upon the amount found to have been illegally collected from the date of payment of the amount to the date of allowance of credit on account of the judgment or to a date preceding the date of the refund warrant by not more than 30 days, the date to be determined by the board.

History.—Stats. 1945, p. 1003, in effect September 15, 1945, substituted "board" for "Controller". Stats. 1975, Ch. 661, p. 1432, in effect January 1, 1976, substituted "12 percent" for "6 percent". Stats. 1982, Ch. 5 (First Extra Session), in effect June 1, 1982, substituted "adjusted annual rate established pursuant to Section 19269" for "rate of 12 percent per annum" after "allowed at the". Stats. 1996, Ch. 1087, in effect January 1, 1997, substituted "Section 19521" for "Section 19269" after "established pursuant to".

Note.—Section 76 of Stats. 1975, Ch. 661, provided that notwithstanding Section 2231 of the Revenue and Taxation Code, there shall be no reimbursement pursuant to this section nor shall there be any appropriation made by this act because this act contains a revenue source which may be utilized by local governments to cover the cost of the mandate. Sec. 78 thereof provided that the interest rate change in this act shall apply to all interest accrued on or after January 1, 1976.

Note.—Section 89 of Stats. 1982, Ch. 5 (First Extra Session) provided that the provisions of this act shall apply to all interest and additions to tax accruing on or after the effective date of this act.