Tax refund deadline cut this year under new law

A new state chief information officer is included in 2010 laws.
OKLAHOMA CITY — About a dozen new laws are taking effect Friday, including an effort to speed tax refunds and the creation of a chief information officer for the state.
Senate Bill 11 reduces the amount of time that the Oklahoma Tax Commission has to remit tax refunds. For electronic returns, a refund must be made in 20 days rather than 30 days, said Rep. Randy Terrill, D-Moore, who sponsored the bill in the House.
For paper returns, the agency must provide a refund within 90 days instead of 150 days, Terrill said.
If the Tax Commission misses the deadline, it must pay interest of 1.25 percent a month, according to the agency.
Terrill said the agency has indicated it would not have a problem complying with the measure.
Most taxpayers are not interested in making an involuntary loan to the government without some interest being attached, Terrill said.
"We wanted to ensure there was an incentive for the Oklahoma Tax Commission to process a timely filed return and return the money in a similarly timely fashion," he said.
Efforts to install a chief information officer are under way.