Bill Text: MS HB1728 | 2016 | Regular Session | Introduced
Bill Title: Free port warehouse; revise property stored in that is eligible for exemption from ad valorem taxes.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2016-03-16 - Died In Committee [HB1728 Detail]
Download: Mississippi-2016-HB1728-Introduced.html
MISSISSIPPI LEGISLATURE
2016 Regular Session
To: Ways and Means
By: Representative Reynolds
House Bill 1728
AN ACT TO AMEND SECTION 27-31-53, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT PERSONAL PROPERTY THAT IS CONSIGNED OR TRANSFERRED TO A LICENSED FREE PORT WAREHOUSE, PUBLIC OR PRIVATE, WITHIN THE STATE OF MISSISSIPPI, FOR STORAGE PENDING TRANSIT TO ONE OTHER LOCATION IN THIS STATE FOR PRODUCTION OR PROCESSING INTO A COMPONENT OR PART THAT IS THEN TRANSPORTED TO A FINAL DESTINATION OUTSIDE OF THE STATE OF MISSISSIPPI, IS ELIGIBLE FOR EXEMPTION FROM AD VALOREM TAXES; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-31-53, Mississippi Code of 1972, is amended as follows:
27-31-53. All personal
property in transit through this state which is (a) moving in interstate
commerce through or over the territory of the State of Mississippi, (b) which
was consigned or transferred to a licensed "free port warehouse,"
public or private, within the State of Mississippi for storage in transit to a
final destination outside the State of Mississippi, whether specified when
transportation begins or afterward, * * * (c) manufactured in the State of Mississippi
and stored in separate facilities, structures, places or areas maintained by a
manufacturer, licensed as a free port warehouse, for temporary storage or handling
pending transit to a final destination outside the State of Mississippi, or
(d) consigned or transferred to a licensed free port warehouse, public or
private, within the State of Mississippi, for storage pending transit to one
(1) other location in this state for production or processing into a component
or part that is then transported to a final destination outside of the State of
Mississippi, may, in the discretion of the board of supervisors of the
county wherein the warehouse or storage facility is located, and in the
discretion of the governing authorities of the municipality wherein the
warehouse or storage facility is located, as the case may be, be exempt from
all ad valorem taxes imposed by the respective county or municipality and the
property exempted therefrom shall not be deemed to have acquired a situs in the
State of Mississippi for the purposes of such taxation. Any exemption granted
to a licensed "free port warehouse" pursuant to this section shall be
effective as of the first calendar day of the taxable year in which the
warehouse applied for the exemption by virtue of submitting the application for
licensure, and shall remain in effect for such period of time as the respective
governing authority may prescribe. Such property shall not be deprived of
exemption because while in a warehouse the property is bound, divided, broken
in bulk, labeled, relabeled or repackaged. Any exemption from ad valorem taxes
granted before January 1, 2012, is hereby ratified, approved and confirmed.
SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the ad valorem tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the ad valorem tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.
SECTION 3. This act shall take effect and be in force from and after January 1, 2016.
