House Bill 1484 Summary

• Commissioner of Revenue shall develop procedures to receive and consider offers to compromise "doubtful claims" (finally determined tax liabilities where tax liens have been enrolled and ordinary collection efforts have been ineffectual).

• Commissioner may recommend settlement of doubtful claims to the Governor; upon Governor approval, settlement agreements are binding and fully compromise all taxes, interest, and penalties owed.

• If Commissioner later determines a taxpayer misrepresented their financial condition, all compromised liabilities may be reestablished without regard to statutes of limitations.

• Amends confidentiality provisions in tax law sections 27-3-73, 27-7-83, 27-13-57, and 27-65-81 to authorize Commissioner and Department of Revenue to share information with the Governor regarding compromise offers while maintaining confidentiality protections.

• Effective July 1, 2018.