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MS HB45
Bill
Status
2/25/2015
Primary Sponsor
Randal Rushing
Click for details
AI Summary
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Removes subsection (4)(d) from Mississippi Code Section 27-35-50, which previously prescribed specific appraisal procedures for affordable rental housing based on actual net operating income capitalized at market rates.
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Eliminates the requirement that affordable rental housing owners provide annual statements of actual net operating income to county tax assessors by April 1.
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Deletes the definitions of "affordable rental housing" (housing subject to Section 42 of the Internal Revenue Code or similar federal/state affordable housing programs) and "land use regulation" from the code.
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Updates references throughout the statute from "State Tax Commission" to "Department of Revenue" for consistency.
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Effective January 1, 2015.
Legislative Description
Ad valorem tax; remove the provision that prescribes the manner in which affordable rental housing must be appraised.
Last Action
Died In Committee
2/25/2015