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MS SB2714
Bill
AI Summary
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State of Mississippi shall provide annual payments to City of Jackson as compensation for ad valorem tax revenue lost due to state-owned property exempt from taxation.
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Annual payment amount equals 50% of the ad valorem tax revenue that would be owed on all state-owned property within Jackson city limits if the property were taxable.
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Payments intended to help Jackson offset tax losses and increased infrastructure, law enforcement, and public safety costs resulting from being the state capital.
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City of Jackson must use appropriated funds for road maintenance and law enforcement purposes.
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Effective date: July 1, 2015.
Legislative Description
City of Jackson; require payments in lieu of taxes on state-owned property located in the city.
Last Action
Died In Committee
2/3/2015