MS HB493

Eliminates school boards' authority to increase ad valorem taxes for school district purposes without voter approval through referendum, effective for the 2011 fiscal year and thereafter.

Requires a referendum before tax increases can be implemented, with school boards needing to hold public meetings and advertise their intention to request an election before adopting any order for a tax increase.

Establishes that voter approval requires three-fifths (3/5) of qualified electors voting in favor, with ballot language stating "For the School Tax Increase" or "Against the School Tax Increase" and the specific amount of the proposed increase.

Exempts certain millage from the limitation, including taxes for bond payments, emergency leasing, school building leases, shortfall promissory notes, and constructions outside the district, as well as new programs mandated by the Legislature in their first year.

Requires school boards to pay all costs incurred by the levying authority in calling and holding any referendum election under this act.