Loading chat...

MS HB88

Bill

Official Source

Status

Failed

2/25/2015

Primary Sponsor

William Shirley

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Exempts eligible personal property owned and used by business enterprises on their premises from ad valorem taxation on a phased schedule beginning January 1, 2016.
  • Exemption percentages increase annually from 10% in 2016 to 100% by 2025 and thereafter.
  • Eligible personal property is limited to furniture, fixtures, and equipment classified as personal property for tax purposes.
  • Excludes motor vehicles, Class IV property, and property subject to income tax credits under Section 27-7-22.5.
  • Does not affect tax claims or assessments for taxes accrued before the effective date of January 1, 2016.

Legislative Description

Ad valorem tax; exempt certain business personal property from.

Last Action

Died In Committee

2/25/2015

Committee Referrals

Ways and Means1/6/2015

Full Bill Text

No bill text available