MS HB1568

Amends Section 21-45-19 to include operation and maintenance costs of property rights (rights-of-way, easements, or other property interests) purchased by a municipality as part of redevelopment project costs, if authorized in the redevelopment plan.

Modifies Section 21-45-11 to require tax increment financing plans to reference Section 21-45-19 when estimating redevelopment project costs.

Updates Section 21-45-21 to replace references to "State Tax Commission" with "Department of Revenue" for certifying assessed values and sales tax amounts.

Clarifies that captured assessed value can be used to finance redevelopment project costs including those described in Section 21-45-19 and necessary reserves for revenue bonds.

Effective July 1, 2016.