Mississippi Senate Bill 2550 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 12 2015 - 100% progression
Action: 2015-02-12 - Died On Calendar
Text: Latest bill text (Comm Sub) [HTML]

An Act To Amend Section 21-45-13, Mississippi Code Of 1972, To Provide That If The Assessed Value Of Property Included In A Tax Increment Financing Plan Is Reduced And The Debt Service On The Tax Increment Bonds Issued Pursuant To The Plan Cannot Be Satisfied When Due By The Revenues Payable County Or Municipality Under The Plan, The Governing Body May Elect To Pay From The General Fund Of The Municipality The Difference Between The Amount Of The Revenue Payable To The Municipality Pursuant To The Tax Increment Financing Plan And The Debt Service Payment That Is Due; To Amend Section 27-35-81, Mississippi Code Of 1972, To Provide That If The Assessed Value Of Property Included In A Tax Increment Financing Plan Is Reduced And Tax Increment Bonds Have Been Issued For The Redevelopment Project In The Plan, The Assessor Shall File Along With The Roll Or Rolls Required To Be Filed With The Clerk Of The Board Of Supervisors, A List Of Such Property That Contains The Amount The Assessed Value Was Reduced; And For Related Purposes.

Tax increment financing bonds; authorize counties and municipalities to pay a portion of the debt service from their general fund under certain circumstances.

Sen. Joey Fillingane [R]

Date	Chamber	Action
2015-02-12	Senate	Died On Calendar
2015-02-03	Senate	Title Suff Do Pass Comm Sub
2015-01-19	Senate	Referred To Finance

Type	Source
Summary	https://billstatus.ls.state.ms.us/2015/pdf/history/SB/SB2550.xml
Text	https://billstatus.ls.state.ms.us/documents/2015/html/SB/2500-2599/SB2550IN.htm
Text	https://billstatus.ls.state.ms.us/documents/2015/html/SB/2500-2599/SB2550CS.htm