MS HB59

Reduces the sales tax rate on food for human consumption (not purchased with food stamps) that would be exempt if purchased with food stamps, from the standard 7% rate to 5% effective July 1, 2010 through June 30, 2012.

Further reduces the tax rate on the same eligible food items to 3% effective July 1, 2012 and thereafter.

Applies to food products that meet the definition of items exempt under the food stamp program but are purchased with regular currency instead.

Preserves all existing tax claims, assessments, and enforcement actions for taxes accrued before the effective date of the law.

Takes effect July 1, 2010.