,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #dbfb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,septemb] #aj1        
#bjai,mr4 ,san ,nicolas introduc$ !     
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,natural ,res\rces  ,a    
,,bill  ,to ensure t refunds (          
ov]paym5ts ( ! ,guam ,t]ritorial ,income
 ,tax are issu$ 9 a timely mann]1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,tax ,refund           
,responsibility ,act4  #b4 ,f9d+s       
,congress f9ds z foll[s3  7#a7 ,= ne>ly 
two decades1 ! ,gov]nm5t ( ,guam has be5
 unable to set aside money to pay =     
income tax refunds & in/ead has reli$ on
 accumulat$ deficits & subsequ5t borr[+ 
on ! bond m>ket1 amass+ close to half a 
billion doll>s ( debt1 to pay accru$    
income tax refund paym5ts ow$ to its    
taxpay]s4  7#b7 ,! enactm5t ( an am5dm5t
 to ! ,organic ,act ( ,guam requir+ t ! 
,gov]nm5t ( ,guam deposit tax           
collections 9 ! ,income ,tax ,refund    
,effici5t ,paym5t ,tru/ fund1 z creat$  

by ,guam ,public ,law #bf-gd1 w\ld      
prev5t fur!r unbalanc$ budget+1 deficit 
sp5d+1 *ronic borr[+1 & future burd5s on
 ! taxpay]s ( ,guam4  #c4 ,timely       
refunds ( ov]paym5t ( ,guam ,t]ritorial 
,income ,tax ,section #ca ( ! ,organic  
,act ( ,guam 7#dh ,u4,s4,c4 #adba;i7 is 
am5d$ by add+ at ! end ! foll[+3  7i7 ,!
 ,gov]nor ( ,guam %all ensure t-- 7#a7  
ea* =m fil$ by a p]son or entity = a    
refund ( ov]paym5t ( ! ,guam ,t]ritorial
 ,income ,tax is process$ by ! ,gov]nm5t
 ( ,guam n lat] ?an #ij days aft] su* =m
 0 fil$2 &  7#b7 a refund ( ! full am\nt
 ( any ov]paym5t ( ! ,guam ,t]ritorial  
,income ,tax t ! ,gov]nm5t ( ,guam has  
deem$ valid is issu$ to ! p]son or      
entity :o fil$ = su* refund n lat] ?an  
#ij days aft] ! =m = ! refund 0 fil$4  4
  #d4 ,deposit to ! ,income ,tax ,refund
 ,effici5t ,paym5t ,tru/ ,fund ,!       
,organic ,act ( ,guam 7#dh ,u4,s4,c4    
#adba et seq47 is am5d$ by ins]t+ aft]  
section #bb;,d ! foll[+3  #bc4 ,deposit 
to ! ,income ,tax ,refund ,effici5t     

,paym5t ,tru/ ,fund ,n lat] ?an #aj days
 aft] ! end ( ea* cal5d> mon?1 !        
,gov]nor ( ,guam %all ensure t !re is   
directly deposit$ into ! ,guam ,income  
,tax ,refund ,effici5t ,paym5t ,tru/    
,fund a p]c5tage ( ! payroll )hold+     
taxes & income taxes collect$ by !      
gov]nm5t ( ,guam = t mon? & a p]c5tage (
 ! self-employ$ payroll )hold+ taxes    
collect$ = ! qu>t]1 equal to ! p]c5tage 
( ! budget$ =eca/$ am\nt set aside =    
income tax refunds1 e>n$ income tax     
cr$its1 & *ild tax cr$its adopt$ 9 !    
,gov]nm5t ( ,guam's fiscal ye> budget1 s
 t n lat] ?an #aj days aft] ! end ( !   
cal5d> ye>1 n less ?an ! am\nt necess>y 
= income tax refunds1 e>n$ income tax   
cr$its1 & *ild tax cr$its = t cal5d> ye>
 %all h be5 deposit$ into ! ,tru/       
,refund ,effici5t ,paym5t ,tru/ ,fund4  
4  #e4 ,effective date ,! am5dm5ts made 
by ?is ,act %all take effect on ! fir/  
,janu>y #a to occur aft] ! date ( !     
enactm5t ( ?is ,act4