Executive Committee

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Executive Committee Actions Taken November 8, 2007

The following actions were taken by the Executive Committee at its meeting on November 8, 2007:*

• Elected Cynthia Underwood, Alabama's Acting Commissioner of Revenue, to fill the remainder of Tom Surtees' term as Treasurer; Commissioner Surtees had accepted an appointment by the governor to be Director of Alabama's Department of Industrial Relations (Ms. Underwood had been appointed by Commission Chair Jan Goodwin pursuant to Bylaw 3(c)).
• Approved the Financial report for the period July 1, 2007 – September 30, 2007.
• Postponed action on the Uniformity Committee's recommendation in respect of the Model Uniform Statistical Sampling Statute and Accompanying Regulation to the next Executive Committee meeting.
• Postponed action on the Hearing Officer's recommendation in respect of the Model REIT Statute to the next Executive Committee meeting.  

The Executive Committee also heard reports from the Commission's standing committees, which required no action not already listed.  Representatives of COST and its members presented suggestions for improving the Commission's Joint Audit Program following results of a survey of its members that had undergone a Commission audit; the Executive Committee will take up further discussion of these suggestions at its next meeting.

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*Bylaw 6 was amended by the Commission on August 2, 2007; notice of Executive Committee action is no longer required except in certain circumstances.

Notice of Executive Committee Actions Taken May 10, 2007

This notice of Executive Committee actions is being sent pursuant to Bylaw 6(d).* The following actions (other than relating to a recommend change to the bylaws) were taken by the Executive Committee at its meeting on May 10, 2007:

• Elected Susan Combs, Texas Comptroller of Public Accounts, to fill the Executive Committee vacancy left by the previous Texas Comptroller (Ms. Combs had been appointed by Commission Chair Joan Wagnon pursuant to Bylaw 3(c)).
• Approved the 2007-2008 Commission revenue budget, reflecting no increase in the general membership assessment and National Nexus Program fees, and a 5 percent increase in Joint Audit Program fees (Note: in previous years, a projected 5 percent increase in the general membership assessment, National Nexus Program fees, and Joint Audit Program fees had been approved).
• At the request of the Audit Committee, tasked the Uniformity Committee to begin a priority project addressing an issue with the Commission’s Bank and Financial Regulation related to assignment of receivable in the property factor and report back on the project at the Executive Committee's January 2008 meeting.
• After hearing a presentation by tax practitioners regarding the compliance burden associated with amended return filing following receipt of federal RAR, tasked the Uniformity Committee to establish a working group (including practitioners and industry) to convene during the Annual Meeting in Minneapolis July 29 – August 2, 2007, to build upon the earlier work of the Uniformity Committee in this area and develop solutions that may benefit both taxpayers and states by obviating numerous returns after a federal adjustment.

Please note that there were no uniformity recommendations reviewed by the Executive Committee at this meeting.

The Executive Committee also developed proposed amendments to Commission Bylaws; under Bylaw 12, notice of these proposed amendments will be circulated separately.

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*In accordance with the provisions of Bylaw 6(d), these actions shall take effect and be ratified on the twentieth day after the date of this message unless a "negative vote" of a majority of all Compact states (11 or more) or of Compact states having a majority of the total population among all Compact states according to the current U.S. Statistical Abstract is received by the Commission before then (Bylaw 6(d)2). In the case of a recommendation relating to uniformity or compatibility of tax laws, the action shall take effect and be ratified on the twentieth day after the date of this message unless a "negative vote" of more than forty percent of Compact states (9 or more) (Bylaw 6(d)1).