HomeMy WebLinkAboutMINUTES - 02271990 - 1.62 w k
TO: BOARD OF SUPERVISORS Contra
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FROM: •;j-� ,,.
Phil Batchelor, County Administrator �._ ;z
DATE: February20 1990
County
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SUBJECT: LEGISLATION: AJR 67 (Calderon)
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECONIlENDATION
Adopt a position in SUPPORT of AJR 67 by Assemblyman Calderon
which would request the Congress to amend the Internal Revenue
Code to allow Iinformation contained in currency transaction
reports to be disclosed to state tax agencies.
BACKGROUND:
Under current federal law, individuals engaged in a trade or
business who receive more than $10,000 in cash in a single
transaction or two or more related transactions are required to
file currency transaction reports with the federal government.
The Treasury Department can use these reports to investigate
possible money laundering or drug dealing operations. Under
current law, the information contained in these reports may be
loaned to the California Attorney General but must be treated as
confidential by, the Attorney General, meaning that he cannot
release the information to any other state agency. As a result,
the Franchise Tax Board is limited in its power to monitor money
laundering or drug dealing operations within the state for
possible violations of income tax reporting laws.
Assemblyman Calderon has introduced Assembly Joint Resolution 67
which would request the Congress to amend Section 6103 of the
Internal Revenue Code to permit information submitted in currency
transaction reports to be disclosed to state tax agencies.
CONTINUED ON ATTACHMENTYeS YES SIGNATURE: Azo A�
5"44
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON February 21, 199U APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
K UNANIMOUS(ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
CC: ATTESTED -2 7 /
Please See Page' 2 . PHIL BATCHELOR,CLER OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
M382 (10/88) BY 4�1 `" DEPUTY
It appears that passage of AJR 67 and action by Congress to amend
the Internal Revenue Code as requested by AJR 67 would provide
the Franchise Tax Board with a valuable additional tool to
monitor money laundering or drug dealing operations within the
state. In this way it appears to be entirely consistent with the
Board of Supervisors ' war on drugs and therefore deserves the
support of the Board. We are, therefore, recommending that the
Board support AJR 67.
cc: County Administrator
District Attorney
Sheriff-Coroner
Health Services Director
County Probation Officer
Drug Program Administrator
Chair, Drug Abuse Advisory Board
Les Spahnn, SRJ. Jackson, Barish & Associates
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