MS HB1156

Amends Section 27-65-75 to limit recovery of erroneously disbursed sales tax funds to municipalities to a three-year period from the first erroneous disbursement, rather than allowing indefinite recovery.

Reduces the recovery period to one year if a municipality provides written notice to the Department of Revenue within the three-year period indicating the erroneous disbursement.

Brings forward Sections 27-65-51 and 27-65-53 regarding refunds of overpaid or improperly collected sales taxes for purposes of amendment and clarification.

Applies to sales tax revenue diversions made under subsection (1) of Section 27-65-75, which pertains to municipal distributions of eighteen and one-half percent of collected sales tax revenue.

Effective date: July 1, 2015.