§176-B. Access to financial records of individuals who owe Maine taxes

1.  Definitions.  For the purposes of this section, unless the context otherwise indicates, the following terms have the following meanings.

A. "Customer" means any person who has an account, including, but not limited to, a deposit, loan, mortgage or credit card account, with any financial institution and for which the financial institution is obligated to maintain records.   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

B. "Financial institution" means a trust company, savings bank, industrial bank, commercial bank, savings and loan association or credit union organized under the laws of this State or otherwise authorized to do business in this State.   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

C. "Match" means an automated comparison by name and social security number or federal employer identification number of a list of taxpayers provided to a financial institution by the bureau and a list of customers of any financial institution.   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

2.  Computer data match.  Upon written request from the State Tax Assessor to a financial institution in this State with the technological capacity to perform a match, the financial institution shall perform a match using the list of taxpayer social security numbers or federal employer identification numbers provided by the bureau. The bureau is responsible for making its computer data compatible with the data of the financial institution with which a match is sought. The bureau's data, at a minimum, must include the name and social security number or federal employer identification number of and, when known, the amount of taxes owed by each taxpayer. The bureau may not request a financial institution to perform a match under this section more often than once every calendar quarter.

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

3.  Compilation of match list.  After completing a match requested by the bureau under subsection 2, a financial institution shall compile for the bureau a list of those customers whose social security numbers or federal employer identification numbers match the list of social security numbers or federal employer identification numbers of taxpayers provided by the bureau. The list must contain the following information, if available to the financial institution through its matching procedure, for each account identified:

A. The taxpayer's name;   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

B. The taxpayer's social security number or federal employer identification number;   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

C. The financial institution account number; and   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

D. The account type, account balance and any known encumbrances.   [PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

4.  Notice to bureau.  A financial institution that has compiled a match list under subsection 3 shall send the list to the bureau at the address designated by the bureau.

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

5.  Notice to customer.  The financial institution may not provide notice in any form to a customer contained in a match list submitted to the bureau under subsection 4. Notwithstanding any other provision of law, failure to provide notice to a customer does not constitute a violation of the financial institution's duty of good faith to its customers.

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

6.  Reasonable fee.  To cover the costs of carrying out the requirements of this section, a financial institution may assess a reasonable fee to the bureau not to exceed the actual costs incurred by the financial institution.

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

7.  Confidentiality.  The list of taxpayers under subsection 3, with their social security numbers or federal employer identification numbers and the amount of the tax debt provided by the bureau to a financial institution, is confidential. The information may be used only for the purpose of carrying out the requirements of this section. Any person who willfully violates this subsection commits a Class E crime.

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

8.  Immunity from liability; hold harmless.  A financial institution is immune from any liability for its good faith actions to comply with this section. The bureau shall defend and hold harmless, including compensation for attorney's fees, a financial institution that acts in good faith to carry out the requirements of this section.

[PL 2009, c. 213, Pt. AAAA, §8 (NEW).]

SECTION HISTORY

PL 2009, c. 213, Pt. AAAA, §8 (NEW).