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MS SB2593
Bill
AI Summary
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State of Mississippi shall provide annual payments to City of Jackson as compensation for ad valorem tax revenue lost due to state-owned property exemptions.
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Annual payment amount equals 50% of the ad valorem tax revenue that would be due on all state-owned property within Jackson city limits if the property were not tax-exempt.
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Funds may be used by the city for road maintenance and law enforcement purposes to offset increased infrastructure and public safety costs from being the state capital.
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Effective date is July 1, 2012.
Legislative Description
City of Jackson; require payments in lieu of taxes on state-owned property located in the city.
Last Action
Died In Committee
3/6/2012
Full Bill Text
No bill text available