MS HB131

Authorizes the Commissioner of Revenue to develop procedures for receiving and considering offers to compromise "doubtful claims" for finally determined tax liabilities

Allows the Commissioner to enter into binding settlement agreements that fully and finally compromise a taxpayer's liabilities for taxes, interest, and penalties

Permits reestablishment of all compromised liabilities without regard to statute of limitations if the taxpayer is later found to have misrepresented their financial condition, whether intentionally or not

Amends the definition of "doubtful claim" to include tax liabilities for which a notice of tax lien has been enrolled in the Uniform State Tax Lien Registry and for which ordinary collection processes have been ineffectual

Takes effect July 1, 2017