MS SB2886

Requires all taxing entities to hold public hearings before adopting annual budgets and tax levies, with advertisements published weekly for two weeks preceding the hearing in at least 1/4 page format with 18-point type

Mandates different public notice formats depending on whether tax levies will increase: a standard notice for no increase, and a "NOTICE OF A TAX INCREASE" format when millage rates exceed the current year's certified tax rate

Prohibits taxing entities from scheduling hearings at the same time as overlapping taxing entities in the same county, with the county or municipal governing body resolving any scheduling conflicts

Bars any taxing entity from expending funds for the fiscal year until it has strictly complied with the advertisement and public hearing requirements

Repeals Section 27-39-205, which previously contained separate procedures for certified tax rate increases, consolidating those requirements into the revised Section 27-39-203