MS HB909

Limits the amount of public land any one person may purchase or contract to purchase in one year to 160 acres, replacing the previous limit of one-quarter section.

Exempts original owners, mortgagees of state-forfeited tax lands, drainage district boards, and the United States government from the 160-acre annual purchase limit.

Permits nonbanking corporations to purchase tax-forfeited public lands for the first time, subject to the same 160-acre acreage limitation imposed on individuals.

Allows banking corporations to purchase tax-forfeited public lands without acreage restrictions if they held a mortgage or deed of trust on the property at the time of state acquisition.

Takes effect July 1, 2014.