Mississippi Senate Bill 2458 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 9 2023 - 100% progression
Action: 2023-02-09 - Died On Calendar
Text: Latest bill text (Comm Sub) [HTML]

An Act To Create New Section 27-7-5.1, Mississippi Code Of 1972, To Establish The 2023 Mississippi Tax Rebate Fund In The State Treasury; To Provide That Up To $270,000,000.00, Less Administrative Costs, Shall Be Distributed By The Department Of Revenue To Pay Rebates To Taxpayers, Which Monies Shall Be Continuously Appropriated; To Provide That, After Filing A 2022 Mississippi Income Tax Return, Any Taxpayer Who Also Filed A 2021 Mississippi Income Tax Return Shall Receive A One-time, Nontaxable Income Tax Rebate In An Amount Equal To The Lesser Of The 2021 Income Tax Amount Due, If Any, Before The Application Of Any Tax Credits, Or A Set Figure Depending On The Taxpayer's 2021 Filing Status, That Figure Being $250.00 For Single Taxpayers And Married Taxpayers Filing Separately, $375.00 For Heads Of Families And $500.00 For A Married Couple Filing Jointly; To Provide For Proration Of The Rebate For Nonresidents And Part-year Residents; To Provide That The Rebate Shall Not Be Greater Than The Taxpayer's 2021 Individual Income Tax Liability; To Require That The Rebate First Be Credited Against Any Outstanding Tax Liability Existing At The Time The Rebate Is To Be Issued; To Prohibit The Rebate From Accruing Interest For The Benefit Of The Taxpayer Or From Being Refunded Or Credited To The Taxpayer With Interest; To Provide That The Amount Due To Be Refunded Or Credited Shall Be Subject To Setoff Debt Collection Provisions; To Authorize The Commissioner Of Revenue To Promulgate Any Rules Or Regulations Necessary To Implement And Administer The Rebate And Its Fund; To Direct The State Fiscal Officer To Transfer Funds Out Of The State General Fund To The 2023 Mississippi Tax Rebate Fund Created In This Act; To Amend Section 27-7-15, Mississippi Code Of 1972, To Exclude Rebates Received Under This Act From The Definition Of The Term "gross Income" For Purposes Of The State Income Tax Law; And For Related Purposes.

2023 Mississippi Tax Rebate Fund; establish and provide for one-time income tax rebate from.

Sen. Josh Harkins [R]

Date	Chamber	Action
2023-02-09	Senate	Died On Calendar
2023-01-31	Senate	Title Suff Do Pass Comm Sub
2023-01-16	Senate	Referred To Finance

Chapter	Article	Section	Citation Type	Statute Text
27	7	15	Amended Code	See Bill Text

Type	Source
Summary	https://billstatus.ls.state.ms.us/2023/pdf/history/SB/SB2458.xml
Text	https://billstatus.ls.state.ms.us/documents/2023/html/SB/2400-2499/SB2458IN.htm
Text	https://billstatus.ls.state.ms.us/documents/2023/html/SB/2400-2499/SB2458CS.htm