Loading chat...
MS HB1364
Bill
Status
2/4/2014
Primary Sponsor
Bobby Shows
Click for details
AI Summary
-
Removes subsection (d) from Section 27-35-50 of the Mississippi Code that prescribed specific appraisal procedures for affordable rental housing using net operating income capitalization methods.
-
Eliminates the requirement for affordable rental housing owners to provide annual statements of actual net operating income to county tax assessors by April 1.
-
Removes the definitions of "affordable rental housing" (residential units subject to federal low-income housing programs) and "land use regulation" (restrictions on resident income and rental rates) from the statute.
-
Updates references from "State Tax Commission" to "Department of Revenue" throughout the section regarding appraisal procedures and regulatory authority.
-
Effective date: January 1, 2014.
Legislative Description
Ad valorem tax; remove the provision that prescribes the manner in which affordable rental housing must be appraised.
Last Action
Died In Committee
2/4/2014