MS SB2628

Amends Section 27-13-63 of the Mississippi Code to add savings and loan associations to the list of organizations exempt from franchise taxation.

Exemption applies only to savings and loan associations organized under Mississippi state law or United States federal law that have no outstanding capital stock.

Adds the exemption to subsection (b) alongside existing exemptions for mutual savings banks and farm loan associations operating on a nonprofit basis.

Takes effect upon passage.