MS HB9

Exempts eligible personal property owned and used by businesses on their premises from ad valorem taxation through a phased implementation starting January 1, 2015.

Increases exemption percentages annually: 10% in 2015, 20% in 2016, escalating by 10% per year until 100% exemption in 2024 and thereafter.

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

Preserves all existing ad valorem tax claims, assessments, and liens that accrued before the act's effective date.

Takes effect January 1, 2015.