MS HB943

Authorizes the Commissioner of Revenue to develop procedures for taxpayers to offer to compromise and settle "doubtful claims" (finally determined tax liabilities where collection efforts have been ineffectual) with Governor approval.

Allows the Commissioner of Revenue to enter into binding settlement agreements that fully and finally compromise taxes, interest, and penalties if the Governor approves the compromise.

Permits the Commissioner to reestablish all compromised liabilities without regard to statutes of limitations if the taxpayer is later found to have misrepresented their financial condition or assets, whether intentionally or not.

Expands the definition of "doubtful claim" to include finally determined 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.

Authorizes the Commissioner of Revenue and Department of Revenue to share compromise offer information with the Governor or designated representative under strict confidentiality requirements that apply to all state officials and employees.