MS HB1677

Authorizes the City of Ridgeland governing authorities to impose a special sales tax of up to 1% on gross proceeds of sales or gross income from activities taxed at 7% or more under Mississippi Sales Tax Law.

Tax must be approved by at least 3/5 of voters in a municipal election, and an economic analysis study must be conducted and made public before the election is held.

Exempts from the tax: sales under specific Mississippi Sales Tax Law sections, restaurants, hotels/motels, retail food, cable/telecommunications services, and prescription drugs and medicines.

Revenue collected shall be placed in a separate municipal fund and used exclusively for redevelopment projects in the Southeast Ridgeland Redevelopment District, including infrastructure improvements such as streets, utilities, curbs, gutters, and drainage.

Department of Revenue collects the tax, retains 3% for administrative costs, and pays the city monthly; proceeds must be audited annually by an independent certified public accountant; the tax authorization expires July 1, 2015.