Common use of REQUIRED STORAGE AND HANDLING OF CONFIDENTIAL TAXPAYER INFORMATION Clause in Contracts

REQUIRED STORAGE AND HANDLING OF CONFIDENTIAL TAXPAYER INFORMATION. Each signatory agency, and their agents, contractors, employees, and representatives, are responsible for the storage, transmission, and destruction of confidential taxpayer information created, developed, exchanged, or transmitted by the Committee, subject to each signatory agencies’ applicable authority regarding the protection and limits on disclosure of confidential taxpayer information received pursuant to this Agreement. The signatory states may develop information repositories and additional procedures for information sharing pursuant to this Agreement. All information exchanged under this Agreement will be transferred between the signatory agencies pursuant to the established authority of each of the signatory agencies. In the event the laws of signatory agencies conflict, the parties to this agreement will exchange information under the most restrictive provisions applicable to any exchanging signatory agency. The signatory agencies agree to cooperate in establishing secure and efficient means of communication which are not inconsistent with established authority. Any unauthorized disclosure of confidential taxpayer information obtained under the terms of this agreement will be reported immediately upon discovery to the information exchange officer and tax administrator of the providing state. Nothing in this agreement expands or diminishes the legal responsibilities, obligations, penalties, or liabilities of the signatory agencies, or their agents, contractors, employees, or representatives for the storage, handling, or destruction of confidential taxpayer information as established under the laws applicable to each signatory agency.