MS SB2536

Amends Section 27-31-53 of the Mississippi Code to clarify when ad valorem tax exemptions for licensed free port warehouses become effective.

Specifies that any exemption granted to a licensed free port warehouse shall be effective as of the first calendar day of the taxable year in which the warehouse applies for exemption by submitting an application for licensure.

Applies to personal property in interstate commerce stored in free port warehouses or manufactured in Mississippi and stored in separate licensed facilities pending transit outside the state.

Ratifies and confirms all exemptions from ad valorem taxes granted before January 1, 2012.

Takes effect upon passage.