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Colorado Tax Amnesty Signed Into Law

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Gov. John Hickenlooper signs the tax amnesty bill into law on Friday. (credit: CBS)

Gov. John Hickenlooper signs the tax amnesty bill into law on Friday. (credit: CBS)

DENVER (AP) – A 45-day tax amnesty allowing people to catch up on overdue taxes while saving some fines and penalties has been signed by Colorado’s governor.

Gov. John Hickenlooper signed the measure into law Friday morning. He joined legislative budget writers to laud the amnesty, a 45-day period from October to November that will allow anyone who owes taxes prior to this year to pay what they owe and have penalties forgiven. Delinquent taxes paid in full during the amnesty period will be assessed interest at one-half the normal rate.

Sponsors say the amnesty could raise up to $15 million. The money will go to the State Education Fund.

Hickenlooper also signed a bill increasing local oversight of proposed electric transmission facilities.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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