(a) It shall be lawful for the tax administrator, under regulations prescribed by the tax administrator, to release the levy upon all or part of the property or rights to property levied upon where it is determined that the action facilitates the collection of the liability, but the release shall not operate to prevent any subsequent levy.
(b) (1) If the tax administrator determines that property has been wrongfully levied upon, it shall be lawful for the tax administrator to return:
(i) The specific property levied upon;
(ii) An amount of money equal to the amount of money levied upon; or
(iii) An amount of money equal to the amount of money received by the state from a sale of the property.
(2) Property may be returned at any time. An amount equal to the amount of money levied upon or received from the sale may be returned at any time before the expiration of nine (9) months from the date of the levy. For the purposes of paragraph (1)(iii) of this subsection, if property is declared purchased by the state at a sale pursuant to § 44-53-9 relating to the manner and conditions of sale, the state shall be treated as having received an amount of money equal to the minimum price determined pursuant to that section or, if larger, the amount received by the state from the resale of the property. For the purposes of paragraphs (1)(ii) and (1)(iii) of this subsection, the tax administrator shall certify the amount of money to the state treasurer, who shall pay it immediately without specific appropriation from the proceeds of the tax to which the money was originally credited.
History of Section.
P.L. 1993, ch. 138, art. 68, § 1.