MS HB327

Exempts eligible personal property owned and used by business enterprises solely on their premises from ad valorem taxation, with exemptions increasing annually from 10% in 2014 to 100% by 2023.

Defines "eligible personal property" as furniture, fixtures, and equipment classified as personal property for ad valorem tax purposes, excluding motor vehicles, Class IV property, and property eligible for income tax credits.

Implements a ten-year phase-in schedule increasing by 10 percentage points annually: 10% (2014), 20% (2015), 30% (2016), 40% (2017), 50% (2018), 60% (2019), 70% (2020), 80% (2021), 90% (2022), and 100% (2023 and thereafter).

Preserves all existing claims, assessments, appeals, and liens for ad valorem taxes accrued before the effective date.

Becomes effective January 1, 2014.