MS HB1182 | 2010 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 2 2010 - 100% progression
Action: 2010-02-02 - Died In Committee
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 2 2010 - 100% progression
Action: 2010-02-02 - Died In Committee
Text: Latest bill text (Introduced) [HTML]
Summary
An Act To Create The Inventory Tax Rebate Act; To Provide That Any Manufacturer, Distributor, Wholesale Or Retail Merchant Who Pays Ad Valorem Taxes Imposed On Commodities, Products, Goods, Wares And Merchandise Held For Resale, Shall Be Entitled To A Rebate In An Amount Equal To The Amount Of Ad Valorem Taxes So Paid; To Create In The State Treasury A Special Fund To Be Known As The "inventory Tax Rebate Fund"; To Require The Legislature To Appropriate A Certain Amount Of Money Into The Fund; To Provide That Money In The Fund Shall Be Used By The Department Of Revenue To Make The Payments Required By This Act; To Provide The Manner Of Applying For The Rebate; To Provide That The Department Of Revenue Shall Verify Claims And Make The Payments To Eligible Businesses; To Create A Study Committee To Review Current Law And Proposed Legislation On Ad Valorem Taxation Of Business Inventories In This State And To Make Recommendations To The Legislature Which Identify Long-term Strategies To Eliminate Ad Valorem Taxation Of Business Inventories While Ensuring The Local Governments Do Not Experience Fiscal Harm As A Result Of The Elimination Of The Tax; To Amend Section 27-7-22.5, Mississippi Code Of 1972, To Provide That Businesses Using A Certain Income Tax Credit Shall Not Be Eligible For The Rebate; And For Related Purposes.
Title
Ad valorem tax; provide a rebate to businesses that pay tax on inventory.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2010-02-02 | Died In Committee | |
2010-01-18 | Referred To Ways and Means |
Mississippi State Sources
Type | Source |
---|---|
Summary | https://billstatus.ls.state.ms.us/2010/pdf/history/HB/HB1182.xml |
Text | https://billstatus.ls.state.ms.us/documents/2010/html/HB/1100-1199/HB1182IN.htm |