MS SB2903

Authorizes the City of Ridgeland governing authorities to impose a special sales tax of up to 1% on gross proceeds of sales or gross income from activities taxed at 7% or more under Mississippi Sales Tax Law.

Tax requires approval by at least 3/5 of votes cast in a municipal election, with notice published for at least three consecutive weeks before the vote.

Exempts restaurants, hotels/motels, food for human consumption, cable/telecommunications services, prescription drugs and medicines, and certain other sales already exempt under state law.

Revenue collected must be placed in a separate municipal fund and expended solely for redevelopment projects in the Southeast Ridgeland Redevelopment District, including infrastructure improvements like streets, utilities, curbs, gutters, and drainage.

Department of Revenue retains 3% of proceeds for collection costs; tax revenue must be audited annually by an independent certified public accountant with reports filed to the Secretary of the Senate and Clerk of the House; provision expires July 1, 2017.