Guam – With recent revelations that revenues collected from a Tax Amnesty program were not set aside in a reserve fund, two Democrat lawmakers are now working to put a stop to that.
Senator Frank Aguon Jr. and Speaker BJ Cruz introduced two separate bills that will clearly earmark funds from the Tax Amnesty program to certain agencies.
Sen. Aguon’s bill 330 will set aside $1.5 million to help fund the reconstruction of Simon Sanchez High School. Speaker Cruz’s bill 329 will appropriate $5 million from Tax Amnesty money to the Guam Memorial Hospital.
At a public hearing earlier this month, Department of Administration Director Ed Birn told lawmakers that of the $13 million in Tax Amnesty that had been collected so far, none of it went toward assisting GMH. Birn said the money was used to reduce GovGuam payables.
Department of Revenue and Taxation has said that they are expecting to generate about $30 million from the Tax Amnesty program.
The deadline for the Tax Amnesty program is August 6.