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>>NY State looking to delay tax return payments

Posted: Feb 12, 2010 10:11 PM CST

Governor Paterson is considering a controversial plan to pay the state's bills, keeping your money a little longer.

His office is looking into the possibility of delaying tax refunds until June first in order to have more money on hand at the start of the next fiscal year, that adds up to about half-a-billion dollars.

The state does not have to pay interest on your money until 45-days after April 15th, so it is looking to keep it as long as possible. Assemblyman Tim Gordon says that is like an interest free loan to New York.

And he calls that simply wrong.

"I don't know if the governor is in touch with people across the state who go to the mail box hoping upon hope that the tax refund will be there so they can meet their committments, do grocery shopping, or many things for their families," Gordon said, "to find the check simply isn't there for no good reason."

The governor's office says this is just an option, and nothing is drawn up yet.

http://www.wten.com/Global/story.asp?S=11980190