The director, in collaboration with the Franchise Tax Board, shall do all of the following: (

a) Identify taxpayers who have overpaid disability insurance contributions in any or all tax years from January 1, 1993, to December 31, 1995, inclusive, and have not received refunds due to them. For purposes of this subdivision, “taxpayers” means any individual who filed a FTB Form 540A or 540EZ. (b)

(1) By October 15, 1997, credit the taxpayers identified in this subdivision with the amount of any overpaid disability insurance pursuant to

Section of the Revenue and Taxation Code. If the amount credited pursuant to this subdivision exceeds any amount then due from the taxpayer, the difference shall be refunded to the taxpayer. For taxable years 1993, 1994, and 1995, inclusive, interest, at the rate established pursuant to

Section of the Revenue and Taxation Code, shall accrue from April of the tax year following the overpayment to a date preceding the date of the refund warrant by not more than days.

(2) Identify and refund overpayments, with interest, to those taxpayers who have overpaid disability insurance contributions, and who have not claimed refunds due to them.

(3) Interest on overpayments of disability insurance contributions shall be allowed and paid pursuant to Sections and of the Revenue and Taxation Code.

(4) For purposes of

Section of the Revenue and Taxation Code, any overpayment of disability insurance contributions shall be deemed to have been paid on the last day prescribed for filing the return under

Article 1 (commencing with

Section 18501) or

Article 2 (commencing with

Section 18601) of

Chapter of

Part 10.2 of the Revenue and Taxation Code without regard to any extension of time for filing the return with respect to which the overpayment is allowable as a credit under

Section of the Revenue and Taxation Code.