Title 11 — Finance and Taxation

The Tax Commissioner of Guam shall, no later than ninety (90) days after the effective date hereof, develop necessary procedures to implement this Chapter, and to that end shall: (a) issue such rules and regulations as he or she may deem necessary to implement this Chapter; (b) p…

This Act shall be ineffective in the tax year following the receipt by the Director of Revenue and Taxation of a certificate of the Superintendent of Education that it is no longer necessary for eligible educators to spend their own money on qualified expenses, as those terms are…

Subsections 4302(a) and (b) of this Chapter are substantially similar to §62(a)(2)(D) of the Internal Revenue Code [26 USC §62(a)(2)(D)] and should be construed consistently therewith except where manifestly inapplicable.” ---------- COL 110609

(a) ‘COLA AWARDEE’ means a retiree of the Retirement Fund who is a member of the COLA Class designated in Superior Court Case No. SP0206-93 entitled to receive a Cost of Living Allowance. (b) ‘COLA Award Qualifying Certificate (CQC)’, means the declaration of a COLA AWARDEE, made…

A tax rebate in an amount equal to the total personal income tax due regarding Cost of Living Adjustment payments received pursuant to Superior Court Case No. SP0206-93 by ‘COLA AWARDEES’ is hereby established and declared.

When a tax return is accompanied by a CQC, the amount of tax due prior to the rebate shall be deposited with the government of Guam when the return is filed. Alternatively, if no payment is due when the tax return is filed, the Tax Commissioner of Guam shall credit the amount of …

Deposits made pursuant to § 44103 of this Chapter shall be covered and deposited into the fund created by Title 12 GCA § 58138.

The Tax Commissioner of Guam shall, no later than ninety (90) days after the enactment hereof, develop necessary procedures to implement this Chapter, and to that end shall : (a) enact such rules and regulations as he finds necessary; (b) promulgate forms and publications to assi…

This Chapter shall be known and may be cited as the Income Tax Refund Reserve Fund Law. SOURCE: Added by P.L. 22-140:IV:2(b) (Sept. 29, 1994), eff. Oct. 1, 1994.

Commingling. There is hereby created, separate and apart from other funds of the government of Guam, a reserve fund known as the Income Tax Refund Reserve Fund (the Fund). The Fund shall not be commingled with the General Fund or any other funds of the government of Guam, and it …

Refunds, Earned Income Tax Credits, and Child Tax Credits. COL9192018 Each year, the Director of Revenue and Taxation, in consultation with the Director of Administration and the Director of the Bureau of Budget and Management Research, shall establish a formula for reserving inc…

Earned Income Tax Credits and Child Tax Credits. In accordance with the formula provided for in § 50103 of this Chapter, the Director of Administration shall, as a ministerial duty, set aside all money reserved for income tax refunds, and shall set aside earned income tax credits…

Any and all expenditures from the Fund shall be for the payment of income tax refunds, earned income tax credits, child tax credits, tax rebate relief and for no other purpose. The fund is not subject to the provisions of 5 GCA § 22414, which provisions would otherwise permit I M…

The money placed in the Income Tax Refund Reserve Fund is not subject to any transfer authority of the Governor. SOURCE: Added by P.L. 22-140:IV:2(b) (Sept. 29, 1994), eff. Oct. 1, 1994.

The Director of Administration shall make monthly reports to the Legislature on all expenditures from and deposits into the Fund. SOURCE: Added by P.L. 22-140:IV:2(b) (Sept. 29, 1994), eff. Oct. 1, 1994.

The Director of Revenue and Taxation shall submit a written report and an electronic Microsoft Excel file to the Speaker of I Liheslaturan Guåhan and the Office of Finance and Budget of the status of income tax refunds, and shall utilize the template design in Appendix II of PL 3…

Trust Fund. (a) There is hereby created, separate and apart from all other funds of the government of Guam, a trust fund known as the Income Tax Refund Efficient Payment Trust Fund (‘Trust Fund’). The Trust Fund shall not be commingled with the General Fund or any other funds of …

The Director of the Department of Administration (DOA) shall directly deposit, upon receipt of any payment of income tax, including, but not limited to, individual, corporate and withholding taxes, interest and penalties, to the Trust Fund a portion of the tax payment received to…

In order for I Liheslaturan Guåhan to make the proper legislative appropriation pursuant to § 51101(a) of this Chapter, the Tax Commissioner shall submit to I Liheslaturan Guåhan [Guam Legislature] on the 15th day of January each year a detailed budget request of itemized cost of…

If the Department of Revenue and Taxation chooses to enter into contracts with temporary income tax returns processors, the Department of Revenue and Taxation shall promulgate rules and regulations governing the contract. The processors under contracts shall be deemed independent…

Any and all expenditures from the Trust Fund shall be for the payment outlined in § 51103, and for no other purpose. The Trust Fund shall not be subject to or permit I Maga’lahen Guåhan to pledge the Trust Fund for payments or repayments of any government of Guam general fund obl…

(a) Monthly Reporting. The Tax Commissioner and the Director of Administration shall report to I Maga’lahen Guåhan and I Liheslaturan Guåhan regarding the total deposits in each month and the current balance of the Trust Fund within fifteen (15) calendar days of the end of each m…

The money placed in the Trust Fund is not subject to any transfer authority of I Maga’lahen Guåhan. COL10312014 PAYMENT TRUST FUND ACT OF 2002

The provisions of the Income Tax Refund Efficient Payment Trust Fund Act of 2002 shall be effective on October 1, 2002. ---------- COL10312014

(a) There is hereby created, separate and apart from other funds of the government of Guam, a fund known as the ‘Department of Education Operations Fund’. This fund shall not be commingled with the General Fund and shall be kept in a separate bank account to be in the name of the…

Fund. The contents of the Department of Education Operations Fund are appropriated to the Department of Education for the operations of the Department of Education and for such improvements of the Department of Education, including capital improvements, as may be found necessary …

As used in this Chapter, unless the context otherwise requires: (a) Account or ABLE savings account means an individual savings account established in accordance with this Chapter. (b) Account owner means the person who enters into a savings agreement pursuant to this Chapter. (c…

The Director shall establish the Guam ABLE Savings Program to provide for or facilitate individual savings accounts that empower individuals with a disability and their families to save private funds to support an individual with a disability. The Program shall be able to accept …

(a) The Director shall implement and administer the program under the terms and conditions established by this Chapter and in conformity with federal law, including the Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014, Division B of U.S. Public Law No. 113-…

(a) A management contract shall include, at a minimum, terms requiring the financial organization to: (1) take any action required to keep the program in compliance with the requirements of this Chapter and take any action not contrary to the management contract to qualify as a q…

Conditions. (a) An ABLE savings account established pursuant to this Chapter shall be opened by a designated beneficiary or by a trustee or guardian of a designated beneficiary who lacks capacity to enter into a contract; provided, that the designated beneficiary shall be an elig…

account: (a) shall be exempt from attachment, execution, or garnishment; and (b) may be claimed by the MIP or Medicaid plan subject to limitations imposed by the Director or Secretary, as applicable.

(a) Nothing in this Chapter shall create or be construed to create any obligation of the Director, the government of Guam, or any agency or instrumentality of the government of Guam to guarantee for the benefit of any account owner or designated beneficiary with respect to the: (…

for the Implementation of the Guam ABLE Savings Program. Notwithstanding any other provision of law, rule, or regulation to the contrary, I Maga‘hågan Guåhan is hereby authorized to identify and transfer up to Two Hundred Fifty Thousand Dollars ($250,000) from the General Fund to…

Implementation of the Guam ABLE Savings Program.

[Repealed, reserved, or text not separately stated.]

This Division 3 shall be known as the “Business License Law.” SOURCE: GC § 16000.

The purpose of this Division is to provide for the licensing of businesses in Guam in order that all necessary and reasonable control and regulation thereof may be practiced by the Government of Guam for the protection of the health, safety and morals of the people of Guam. SOURC…

For the purposes of this Division, except as otherwise specifically provided, the following words and phrases, together with all the common derivatives thereof, (i.e., verbs, plurals, gerunds, etc.) shall have the meaning prescribed in this section: (a) “Applicant” shall mean and…

Administration of this Division shall be vested in the Department of Revenue and Taxation and the License Division thereof; provided, however, that the License Division shall at no time exercise judicial discretion, but shall perform only the functions provided herein. SOURCE: GC…

It shall be the duty of the License Division to perform the following functions as well as all other functions necessary for the proper administration of this Division. (a) On the showing of compliance with all required prerequisites, including the payment of the fee, of any appl…

Qualifications required for securing licenses and endorsements applicable thereto shall be promulgated as rules and regulations by the License Board, with the advice of the department of the government of Guam designated in this Division to have cognizance thereof. SOURCE: GC § 1…

The License Board shall draft and approve such rules and regulations as are required by this Division and shall, after such approval, hold a public hearing at such time and place as the License Board shall direct before official promulgation of the rules and regulations. The Lice…

The rules and regulations as promulgated by the License Board as provided herein, or the amendment or repeal of such rules and regulations shall not be retroactive with regard to any license existing and valid at the time of their promulgation. SOURCE: GC § 16007.

Examination of the qualifications of any applicant shall be the duty and responsibility of the director of the department designated in this Division to have cognizance thereof. SOURCE: GC § 16008.

Prerequisites to and qualification for the obtaining of any license hereunder shall be mandatory, whether provided by law, rule or regulation and may be changed, from time to time by the Licensing Board as it deems necessary and proper; provided, however, that in no case shall a …

It shall be the duty and responsibility of the department of the government of Guam to which this Division gives cognizance, to make periodic inspections or examinations of licensees to see that they conform at all times to the required qualifications and prerequisites. SOURCE: G…

There is hereby created within the Government of Guam a License Board, to be composed of three members ex officio who shall be the Director of Revenue and Taxation, the Director of Commerce, and a law member appointed from the Department of Law by I Maga’håga/Maga’låhi. The membe…

It shall be the duty of the License Board upon written request of an applicant to review any denial of an application for a license, and the Board may deny or approve the license within the terms of the law and applicable rules and regulations. The decisions of the License Board …

The License Board shall review any order to suspend or revoke a license upon application of the licensee. The Board may approve or reverse the order within the terms of the law and applicable rules and regulations governing said license. The decisions of the Board are appealable …