Bill Amendment: MS HB131 | 2017 | Regular Session
Bill Title: Department of Revenue; authorize to compromise and settle certain tax liabilities.
Status: 2017-03-08 - Died On Calendar [HB131 Detail]
Download: Mississippi-2017-HB131-Senate_Committee_Amendment_No_1.html
Pending
COMMITTEE AMENDMENT NO 1 PROPOSED TO
House Bill No. 131
BY: Committee
Amend by striking all after the enacting clause and inserting in lieu thereof the following:
SECTION 1. (1) The Commissioner of Revenue shall develop procedures for the receipt and consideration of offers to compromise and settle doubtful claims as defined in this section. If the commissioner makes a determination that a finally determined liability is a doubtful claim as defined in this section and should be settled and compromised, that recommendation shall be made to the Board of Tax Appeals.
(2) Upon approval by the Board of Tax Appeals, the Commissioner of Revenue is authorized to enter into an agreement with a taxpayer under which a finally determined tax liability that is a doubtful claim is settled and compromised. The settlement agreement shall be binding and a taxpayer's liabilities for taxes, interest and penalties will be fully and finally compromised. If the Commissioner of Revenue later determines that the taxpayer misrepresented, whether intentionally or not, the financial condition of the taxpayer or any property belonging to the taxpayer or other person liable for the tax, all compromised liabilities may be reestablished without regard to any statute of limitations that otherwise may be applicable.
(3) The Commissioner of Revenue shall have all powers necessary to implement and administer this section, and shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
(4) The Commissioner of Revenue and the Department of Revenue may discuss with and provide the Board of Tax Appeals with information related to an offer to settle and compromise any doubtful claim of the state regarding a finally determined tax liability.
(5) For purposes of this section, a doubtful claim is one for which a notice of tax lien has been enrolled in the Uniform State Tax Lien Registry for a finally determined tax liability and for the collection of which the ordinary process of law has been ineffectual.
SECTION 2. This act shall take effect and be in force from and after July 1, 2017, and shall be repealed on June 30, 2017.
Further, amend by striking the title in its entirety and inserting in lieu thereof the following:
AN ACT TO REQUIRE THE COMMISSIONER OF REVENUE TO DEVELOP PROCEDURES FOR THE RECEIPT AND CONSIDERATION OF OFFERS TO SETTLE FINALLY DETERMINED TAX LIABILITIES THAT ARE DOUBTFUL CLAIMS; TO PROVIDE THAT THE COMMISSIONER OF REVENUE IS AUTHORIZED TO ENTER INTO AN AGREEMENT WITH A TAXPAYER UNDER WHICH A FINALLY DETERMINED TAX LIABILITY THAT IS A DOUBTFUL CLAIM IS SETTLED AND COMPROMISED; TO PROVIDE THAT IF THE SETTLEMENT AGREEMENT IS APPROVED BY THE BOARD OF TAX APPEALS, THE AGREEMENT SHALL BE BINDING AND A TAXPAYER'S LIABILITIES FOR TAXES, INTEREST AND PENALTIES WILL BE FULLY AND FINALLY COMPROMISED; TO PROVIDE THAT IF THE COMMISSIONER OF REVENUE LATER DETERMINES THAT THE TAXPAYER MISREPRESENTED THE FINANCIAL CONDITION OF THE TAXPAYER OR ANY PROPERTY BELONGING TO THE TAXPAYER OR OTHER PERSON LIABLE FOR THE TAX, ALL COMPROMISED LIABILITIES MAY BE REESTABLISHED; AND FOR RELATED PURPOSES.
