MS HB531 | 2022 | Regular Session

Status

Spectrum: Partisan Bill (Republican 30-1)
Status: Engrossed on January 12 2022 - 50% progression
Action: 2022-01-18 - Transmitted To Senate
Text: Latest bill text (Engrossed) [HTML]

Summary

An Act To Create The Mississippi Tax Freedom Act Of 2022; To Amend Section 27-7-21, Mississippi Code Of 1972, To Increase The Amount Of The Personal Exemptions Under The State Income Tax Law For Single Individuals, Married Individuals And Head Of Family Individuals And To Provide For The Annual Adjustment Of The Amounts Of Such Personal Exemptions; To Amend Section 27-65-17, Mississippi Code Of 1972, To Increase The Sales Tax Rate From 7% To 8-1/2% On The Sale Of Tangible Personal Property; To Reduce The Sales Tax Rate On Retail Sales Of Food For Human Consumption Not Purchased With Food Stamps But Which Would Be Exempt From Sales Tax If Purchased With Food Stamps; To Amend Section 27-65-19, Mississippi Code Of 1972, To Increase The Sales Tax Rate From 7% To 8-1/2% On Sales Of Telecommunications Services; To Amend Section 27-65-22, Mississippi Code Of 1972, To Increase The Sales Tax Rate From 7% To 8-1/2% On Amusement And Entertainment Admissions; To Amend Section 27-65-23, Mississippi Code Of 1972, To Increase The Sales Tax Rate From 7% To 8-1/2% On Various Services; To Amend Section 27-65-25, Mississippi Code Of 1972, To Increase The Sales Tax Rate From 7% To 8-1/2% On Retail Sales Of Alcoholic Beverages; To Amend Section 27-65-26, Mississippi Code Of 1972, To Increase The Sales Tax Rate From 7% To 8-1/2% On The Sale, Renting Or Leasing Of Specified Digital Products; To Amend Section 27-65-75, Mississippi Code Of 1972, To Provide That A Portion Of The State Sales Revenue Collected From Increases To Sales Tax Rates Under This Act Shall Be Deposited, Without Diversion, Into The Motor Vehicle Ad Valorem Tax Credit Reimbursement Fund Created By This Act And That The Remainder Of The State Sales Revenue Collected From Increases To Sales Tax Rates Under This Act Shall Be Deposited, Without Diversion, Into The State Treasury To The Credit Of The General Fund; To Revise The Distribution Of State Sales Tax Revenue Collected From Retail Sales Of Food For Human Consumption Not Purchased With Food Stamps But Which Would Be Exempt From Sales Tax If Purchased With Food Stamps; To Amend Section 27-67-31, Mississippi Code Of 1972, To Provide That A Portion Of The State Use Tax Revenue Collected As A Result Of The Increases To Sales Tax Rates Under This Act Shall Be Deposited, Without Diversion, Into The Motor Vehicle Ad Valorem Tax Credit Reimbursement Fund Created By This Act And That The Remainder Of The State Use Tax Revenue Collected As A Result Of The Increases To Sales Tax Rates Under This Act Shall Be Deposited, Without Diversion, Into The State Treasury To The Credit Of The General Fund; To Amend Section 27-65-241, Mississippi Code Of 1972, Which Authorizes Certain Municipalities To Levy A Municipal Special Sales Tax, To Conform To The Provisions Of This Act; To Authorize A Motor Vehicle Ad Valorem Tax Credit; To Amend Section 27-7-5, Mississippi Code Of 1972, To Provide That From And After January 1 Of The Next Succeeding Year After The Date That The Commissioner Of Revenue Certifies That The Reduction In Revenue Mandated By Section 27-7-21, Mississippi Code Of 1972, Equals Or Exceeds The Remaining Revenue Produced By The Individual Income Tax, The Individual Income Tax Shall Be Repealed; To Bring Forward Section 27-7-3, Mississippi Code Of 1972, Which Defines Certain Terms Under The State Income Tax Law, For The Purposes Of Possible Amendment; To Bring Forward Section 27-7-27, Mississippi Code Of 1972, Which Relates To The Income Taxation Of Estates And Trusts For Purposes Of Possible Amendment; To Amend Section 27-7-22.31, Mississippi Code Of 1972, To Conform To The Provisions Of This Act; To Bring Forward Sections 27-7-22.5, 27-7-22.15, 27-7-22.21, 27-7-22.22, 27-7-22.32, 27-7-22.33, 27-7-22.37, 27-7-22.39, 27-7-22.41 And 27-7-207, Mississippi Code Of 1972, Which Provide For Various Income Tax Credits, For The Purposes Of Possible Amendment; To Amend Sections 57-62-9 And 57-62-11, Mississippi Code Of 1972, To Revise Certain Provisions Of The Mississippi Advantage Jobs Act; To Bring Forward Sections 27-7-312, 57-62-5 And 57-62-13, Mississippi Code Of 1972, Which Relate To The Mississippi Advantage Jobs Act, For The Purposes Of Possible Amendment; To Bring Forward Sections 57-89-3 And 57-89-7, Mississippi Code Of 1972, Which Are Sections Of The Mississippi Motion Picture Incentive Act, For The Purposes Of Possible Amendment; To Amend Sections 57-99-1, 57-99-3 And 57-99-5, Mississippi Code Of 1972, To Revise Certain Provisions Of The Mississippi Major Economic Impact Withholding Rebate Incentive Program; To Bring Forward Sections 57-99-7, 57-99-21, 57-99-23, 57-99-25 And 57-99-27, Mississippi Code Of 1972, Which Relate To The Mississippi Major Economic Impact Withholding Rebate Incentive Program, For The Purposes Of Possible Amendment; To Bring Forward Sections 37-148-3 And 37-148-5, Mississippi Code Of 1972, Which Are Sections Of The Strengthening Mississippi Academic Research Through Business Act, For The Purposes Of Possible Amendment; To Bring Forward Section 57-105-1, Mississippi Code Of 1972, Which Authorizes Income Tax And Insurance Premium Tax Credits For Taxpayers Holding Certain Qualified Equity Investments, For The Purposes Of Possible Amendment; To Bring Forward Sections 27-25-503 And 27-25-505, Mississippi Code Of 1972, Which Are Sections Of The State Oil Severance Tax Law, For The Purposes Of Possible Amendment; To Bring Forward Sections 27-25-703 And 27-25-705, Mississippi Code Of 1972, Which Are Sections Of The State Gas Severance Tax Law, For The Purposes Of Possible Amendment; To Bring Forward Sections 27-65-101, 27-65-103, 27-65-105, 27-65-107 And 27-65-111, Mississippi Code Of 1972, Which Authorize Various Sales Tax Exemptions, For The Purposes Of Possible Amendment; And For Related Purposes.

Tracking Information

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Title

Mississippi Tax Freedom Act of 2022; create.

Sponsors


Roll Calls

2022-01-13 - House - House Passed As Amended (Y: 107 N: 4 NV: 11 Abs: 0) [PASS]
2022-01-12 - House - House Passed As Amended (Y: 97 N: 12 NV: 13 Abs: 0) [PASS]

History

DateChamberAction
2022-01-18HouseTransmitted To Senate
2022-01-13HousePassed As Amended
2022-01-13HouseAmended
2022-01-13HouseReconsidered
2022-01-13HouseMotion to Reconsider Entered (Lamar, Steverson)
2022-01-12HousePassed As Amended
2022-01-12HouseAmended
2022-01-11HouseTitle Suff Do Pass
2022-01-11HouseReferred To Ways and Means

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2725503New CodeSee Bill Text
2725505New CodeSee Bill Text
2725703New CodeSee Bill Text
2725705New CodeSee Bill Text
2765101New CodeSee Bill Text
2765103New CodeSee Bill Text
2765105New CodeSee Bill Text
2765107New CodeSee Bill Text
2765111New CodeSee Bill Text
276517Amended CodeSee Bill Text
276519Amended CodeSee Bill Text
276522Amended CodeSee Bill Text
276523Amended CodeSee Bill Text
2765241Amended CodeSee Bill Text
276525Amended CodeSee Bill Text
276526Amended CodeSee Bill Text
276575Amended CodeSee Bill Text
276731Amended CodeSee Bill Text
277207New CodeSee Bill Text
27721Amended CodeSee Bill Text
27722New CodeSee Bill Text
27727New CodeSee Bill Text
2773New CodeSee Bill Text
277312New CodeSee Bill Text
2775Amended CodeSee Bill Text
371483New CodeSee Bill Text
371485New CodeSee Bill Text
571051New CodeSee Bill Text
576211Amended CodeSee Bill Text
576213New CodeSee Bill Text
57625New CodeSee Bill Text
57629Amended CodeSee Bill Text
57893New CodeSee Bill Text
57897New CodeSee Bill Text
57991Amended CodeSee Bill Text
579921New CodeSee Bill Text
579923New CodeSee Bill Text
579925New CodeSee Bill Text
579927New CodeSee Bill Text
57993Amended CodeSee Bill Text
57995Amended CodeSee Bill Text
57997New CodeSee Bill Text

Mississippi State Sources


Bill Comments

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