MS HB1617

Authorizes county boards of supervisors and municipal governing authorities in counties with a major musical heritage museum (as designated by Mississippi Development Authority) to exempt new hotels and motels from ad valorem taxation.

Exemption applies to tangible property except motor vehicles used in hotel or motel operations that are completed and opened for initial commercial operations after July 1, 2014.

Exemption period may not exceed 10 years.

Effective date is July 1, 2014.