By Gerardo R. Partido
Variety News Staff 

SENATOR Jesse Anderson Lujan, R-Tamuning, has introduced a bill which authorizes the Department of Revenue and Taxation to auction off outstanding past due tax receivables, generating immediate cash revenues.
“This government needs revenue now. Let’s collect what we can, and transfer the process of collections into private hands,” Lujan said.
Bill 82 or the “Tax Recovery Act” allows the Department of Revenue and Taxation to sell outstanding tax liabilities and amounts referred by other government agencies such as the Guam Memorial Hospital in public auction to highest bidders, after 30 days prior notice by publication and opportunity for purchaser inspection.
Sales would be in increments of at least $100,000. Winning bidders must remit the bid amount within 10 days or lose to the next highest bidder.
“This government is owed $90 million in uncollected taxes. Rev & Tax thinks it can generate $30 million in voluntary payments through tax amnesty. We have bills to pay, and can’t afford to just wait and hope,” Lujan pointed out.
The bill will authorize the Department of Revenue and Taxation to liquidate its portfolio of past due tax liabilities by auctioning them to collection companies, banks, law firms, and other professional entities. This will provide the Government of Guam with a badly needed infusion of cash to meet operational expenses.
Under the bill, all forms of taxes may be sold, as well as other unpaid amounts due to the government of Guam, which have been duly referred to DRT for collection, such as unpaid hospital bills.
Upon sale of the government’s tax receivables, the receivables shall become the private property of the purchaser who may use all lawful means available to collect the face value or any portion thereof of the former tax liability or unpaid government receivable.