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2995 AN ACT TO AMEND SECTIONS 27-31-7, 27-31-101 AND 27-31-105 AND 27-31-107, MISSISSIPPI CODE OF 1972, TO AUTHORIZE COUNTIES AND MUNICIPALITIES TO EXEMPT FROM AD VALOREM TAXATION, EXCEPT AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES, THE VALUE OF RAW MATERIALS AND WORK-IN-PROGRESS INVENTORY;
2995 (As Passed the Senate) AN ACT TO AMEND SECTIONS 27-31-7, 27-31-101 AND 27-31-105 AND 27-31-107, MISSISSIPPI CODE OF 1972, TO AUTHORIZE COUNTIES AND MUNICIPALITIES TO EXEMPT FROM AD VALOREM TAXATION, EXCEPT AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES, THE VALUE OF RAW MATERIALS AND WORK-IN-PROGRESS INVENTORY;
2995 *SS26/R1180* ~ OFFICIAL ~ R3/5 25/SS26/R1180 PAGE 1 (icj\kr) the date such exemption is granted.
2995 *SS08/R1180PS* ~ OFFICIAL ~ R3/5 25/SS08/R1180PS PAGE 1 the date such exemption is granted.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 2(icj\kr) 27-31-101.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 2 27-31-101.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 3(icj\kr) exemption, provided that the total of all periods of exemption shall not exceed ten (10) years.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 3 exemption, provided that the total of all periods of exemption shall not exceed ten (10) years.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 4(icj\kr) consecutive exemption period and the dates upon which such consecutive exemption period begins and expires.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 4 consecutive exemption period and the dates upon which such consecutive exemption period begins and expires.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 5(icj\kr) (vii) Recreational facilities that impact tourism meeting minimum criteria established by the Mississippi Development Authority;
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 5 (vii) Recreational facilities that impact tourism meeting minimum criteria established by the Mississippi Development Authority;
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 6(icj\kr) included within the definition of the term "telecommunications enterprises";
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 6 included within the definition of the term "telecommunications enterprises";
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 7(icj\kr) automatically be exempt without any action being required to be taken by such owner, lessor or sublessor.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 7 automatically be exempt without any action being required to be taken by such owner, lessor or sublessor.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 8(icj\kr) granted, whether or not such property is owned, leased, subleased, licensed or otherwise obtained by such enterprise, irrespective of the taxpayer to which any such leased property is assessed for ad valorem tax purposes, within the discretion of the county board of supervisors and municipal authorities;
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 8 granted, whether or not such property is owned, leased, subleased, licensed or otherwise obtained by such enterprise, irrespective of the taxpayer to which any such leased property is assessed for ad valorem tax purposes, within the discretion of the county board of supervisors and municipal authorities;
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 9(icj\kr) extend for a period not to exceed ten (10) years thereafter;
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 9 extend for a period not to exceed ten (10) years thereafter;
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 10(icj\kr) of 1972.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 10 of 1972.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 11(icj\kr) may, by resolution spread on its minutes, approve such application for all or any part of the property sought to be exempted and for all or any part of the authorized period of exemption.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 11 may, by resolution spread on its minutes, approve such application for all or any part of the property sought to be exempted and for all or any part of the authorized period of exemption.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 PAGE 12(icj\kr) SECTION 5.
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS PAGE 12 SECTION 5.
This act shall take effect and be in force from and after July 1, 2025.
This act shall take effect and be in force from and after July 1, 2025, and shall stand repealed on June 30, 2025.
2995 *SS26/R1180* ~ OFFICIAL ~ 25/SS26/R1180 ST:
2995 *SS08/R1180PS* ~ OFFICIAL ~ 25/SS08/R1180PS ST:
authorize local PAGE 13 (icj\kr) governments to grant exemptions for raw materials and work in progress inventory.
authorize local PAGE 13 governments to grant exemptions for raw materials and work in progress inventory.
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