MS HB1539

Amends Mississippi Code Section 27-33-19 to expand the definition of "home" or "homestead" for homestead exemption purposes by adding paragraphs (x) and (y).

Paragraph (x) allows homestead exemption for dwellings and eligible land under a 99-year lease from the Tennessee Valley Authority at or near Pickwick Lake in Tishomingo County, Mississippi, when actually occupied as a primary residence.

Paragraph (y) allows homestead exemption for dwellings and eligible land under a sublease on TVA-leased land for 99 years at or near Pickwick Lake in Tishomingo County, Mississippi, when actually occupied as a primary residence.

Both new provisions limit exemption eligibility to one homestead per family group or person, consistent with existing homestead exemption restrictions.

Takes effect January 1, 2011.