MS HB967

Amends Mississippi Code sections 27-31-51 and 27-31-53 to clarify that manufacturers maintaining separate facilities for temporary storage and handling of personal property pending export are eligible to be licensed as "free port warehouses."

Allows personal property manufactured in Mississippi and stored in manufacturer-licensed free port facilities pending shipment to destinations outside the state to be exempt from ad valorem taxation.

Ratifies and confirms any free port warehouse licenses issued to manufacturers and any tax exemptions granted under these provisions before the bill's effective date.

Governs the exemption through discretionary authority granted to county boards of supervisors and municipal governing authorities, which may exempt all or part of assessed value for periods they prescribe.

Effective January 1, 2012, with a two-phase implementation of section 27-31-53 (current rules through June 30, 2013, then modified version after July 1, 2013).