Bill Text: MS HB1127 | 2011 | Regular Session | Introduced
Bill Title: Homestead exemption; revise reimbursement for ad valorem tax resulting from.
Spectrum: Partisan Bill (Republican 6-0)
Status: (Failed) 2011-02-01 - Died In Committee [HB1127 Detail]
Download: Mississippi-2011-HB1127-Introduced.html
MISSISSIPPI LEGISLATURE
2011 Regular Session
To: Ways and Means
By: Representatives Woods, Baker (8th), Hamilton (6th), Jennings, Mayhall, Mayo
House Bill 1127
AN ACT TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES FOR COUNTIES AND SCHOOL DISTRICTS; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES TO A TAXING UNIT MAY NOT BE MORE THAN ONE HUNDRED TEN PERCENT OF THE REIMBURSEMENT MADE TO THE TAXING UNIT FOR THE PRECEDING YEAR; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-33-77, Mississippi Code of 1972, is amended as follows:
27-33-77. Beginning with the 1985 supplemental roll, and for each succeeding year's roll thereafter, the amount of tax loss to be reimbursed because of exemptions provided for in this article shall be Fifty Dollars ($50.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Dollars ($100.00) per applicant qualifying for homestead exemption under this article. Beginning with the 2011 supplemental roll, and for each succeeding year's roll thereafter, the amount of tax loss to be reimbursed because of exemptions provided for in this article shall be Sixty Dollars ($60.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Twenty Dollars ($120.00) per applicant qualifying for homestead exemption under this article.
The reimbursement received by the county shall be distributed by the county treasurer to the general fund.
Provided further, that tax losses sustained by municipalities because of exemptions granted to homeowners described in subsection (2) of Section 27-33-67 shall be reimbursed up to the amount of the actual exemption allowed, not to exceed Two Hundred Dollars ($200.00) per qualified applicant.
The reimbursement received by a county, municipality or school district may be pledged as security for a loan if the reimbursement to the county or school district is otherwise authorized or required by law to be pledged as security for such a loan.
SECTION 2. Section 27-33-79, Mississippi Code of 1972, is amended as follows:
27-33-79. Notwithstanding the limitation imposed on reimbursement of tax losses in Section 27-33-77, no taxing unit shall be reimbursed more than one hundred ten percent (110%) or less than the amount of the reimbursement made to the same taxing unit, for the next preceding year, unless such reimbursement is reduced as a result of a reduction in approved homestead applicants; however, for the 1986 calendar year, no taxing unit shall be reimbursed less than the amount of the reimbursement made to the same taxing unit for the 1985 calendar year.
SECTION 3. This act shall take effect and be in force from and after July 1, 2011.
