MS HB1145

Amends Section 21-45-19 to include operation and maintenance costs of property rights (rights-of-way, easements, or other property rights) purchased by a municipality as part of redevelopment project costs under tax increment financing, if authorized in the redevelopment plan.

Modifies Section 21-45-11 to require tax increment financing plans to describe cost estimates using the definition provided in Section 21-45-19.

Changes references in Section 21-45-21 from "State Tax Commission" to "Department of Revenue" for certification of assessed values and sales tax amounts.

Specifies that municipalities may retain captured assessed value to finance redevelopment project costs as described in Section 21-45-19 and to establish necessary reserves for revenue bonds.

Effective date: July 1, 2015.