Fines and Penalties

(a)To the extent that a business providing required medical equipment for the program claims more tax credits in terms of unpledged business privilege taxes than the actual value of the medical equipment contributed to the program, that business shall be required to pay all interest and penalties applicable under Guam law and the Internal Revenue Code for failure to pay taxes, in addition to payment of the actual taxes due.

(b)To the extent that any individual, officer, director, or other person having interest in a business providing required medical equipment for the program contained herein knowingly and willingly causes such business to claim more tax credits for business privilege taxes than the actual value of the medical equipment contributed to the program, such individual shall be guilty of a felony in the third degree punishable by a fine of not less than Five Thousand Dollars ($5,000) or one

(1)year in prison or both. ARTICLE 12 TAX CREDITS TO REPAIR AND REHABILITATE THE SOUTHERN HIGH SCHOOL AUDITORIUM