MS HB1586

Amends Section 27-65-111 of the Mississippi Code to add a new exemption from sales tax for sales of tangible personal property and services to the University of Mississippi Medical Center Research Development Foundation.

The exemption allows the foundation to purchase goods and services without paying Mississippi's state sales tax.

Does not affect any existing tax claims, assessments, or appeals that arose before the effective date of the act.

Takes effect on July 1, 2015.