MS HB387

Exempts all commodities, products, goods, wares and merchandise held for resale from ad valorem taxation, effective January 1, 2013.

Applies to manufacturers, distributors, wholesale merchants, and retail merchants holding inventory for resale purposes.

Does not affect ad valorem tax claims, assessments, appeals, or liens for taxes accrued before the effective date of January 1, 2013.

Preserves existing ad valorem tax laws for collection and enforcement of taxes owed prior to the exemption's effective date.