MS HB1122

Increases the percentage of sales tax revenue diverted to municipalities from 18.5% to 19% effective August 15, 2015, then to 19.5% on August 15, 2016, and finally to 20% on August 15, 2017.

The increased diversion applies to sales tax revenue collected on business activities within municipal corporations, excluding certain specified tax sections (27-65-15, 27-65-19(3), 27-65-21, and 27-65-24).

Applies the same percentage increases to state institutions of higher learning and community/junior colleges whose campuses are not located within municipal corporate limits.

Effective date is July 1, 2015, with the first increase taking effect August 15, 2015.