MS HB432

Revises procedures for all taxing entities to hold public budget hearings, requiring advertisements of at least 1/4 page with 18-point font in a prominent newspaper section (not with legal notices) once weekly for two weeks before the hearing.

Hearing must occur at least 7 days after first advertisement is published, be open to the public, and allow interested parties reasonable time for oral testimony; taxing entities must notify county or municipal governing bodies of hearing dates to prevent scheduling conflicts.

Establishes two required advertisement forms: one for tax levies not exceeding current fiscal year rates, and another for proposed tax increases that must clearly state the millage increase amount and its impact on taxpayers.

Prohibits taxing entities from expending funds for the fiscal year until strictly complying with all advertisement and public hearing requirements.

Repeals Section 27-39-205 and amends Sections 21-33-45 and 27-39-317 to conform municipal and county tax levy procedures to the new budget hearing requirements; effective July 1, 2012.