Bill Text: MS HB263 | 2019 | Regular Session | Introduced
Bill Title: Ad valorem tax; reimburse City of Jackson for tax loss that results from state ownership of property.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2019-02-05 - Died In Committee [HB263 Detail]
Download: Mississippi-2019-HB263-Introduced.html
MISSISSIPPI LEGISLATURE
2019 Regular Session
To: Ways and Means
By: Representative Calhoun
House Bill 263
AN ACT TO PROVIDE THAT THE STATE OF MISSISSIPPI SHALL REIMBURSE THE CITY OF JACKSON, MISSISSIPPI, FOR THE AD VALOREM TAX LOSS SUSTAINED BY THE CITY AS A RESULT OF OWNERSHIP OF PROPERTY BY THE STATE IN THE CITY; TO PROVIDE THAT THE MONIES REIMBURSED TO THE CITY OF JACKSON UNDER THIS ACT SHALL BE USED BY THE CITY TO PAY INCREASED INFRASTRUCTURE AND LAW ENFORCEMENT AND OTHER PUBLIC SAFETY COSTS THE CITY INCURS AS A RESULT OF BEING THE SEAT OF STATE GOVERNMENT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) Beginning July 1, 2020, and each succeeding July 1 thereafter, the State of Mississippi shall reimburse the City of Jackson, Mississippi, for the ad valorem tax loss that the city sustains as a result of the ownership of the property described in Section 27-31-1(b), Mississippi Code of 1972, by the State of Mississippi. The term "ad valorem tax loss" as used in this section means the amount of ad valorem tax revenue that the City of Jackson would have received from ad valorem taxation of the property described in Section 27-31-1(b), Mississippi Code of 1972, if such property was not exempt from ad valorem taxation as a result of its ownership by the State of Mississippi. The monies reimbursed to the City of Jackson under this section shall be used by the city to pay increased infrastructure and law enforcement and other public safety costs the city incurs as a result of being the seat of state government.
(2) For the purposes of this section, the property described in Section 27-31-1(b), Mississippi Code of 1972, that is owned by the State of Mississippi shall be assessed as nearly as is practicable in the same manner and in accordance with the same procedure for the assessment of property under Sections 27-35-1 through 27-35-167, Mississippi Code of 1972.
SECTION 2. This act shall take effect and be in force from and after July 1, 2019.
