Loading chat...
MS HB1573
Bill
Status
2/23/2016
Primary Sponsor
Kathy Sykes
Click for details
AI Summary
-
Adds a new subsection (23) to Section 27-65-75 requiring 10% of sales tax revenue from business activities in Jackson, Mississippi to be allocated to the city beginning August 15, 2016
-
Designates these funds specifically to help Jackson offset ad valorem tax losses from state property ownership and increased infrastructure and public safety costs as the state capital
-
Requires Jackson to expend funds exclusively on road and street repair/reconstruction/resurfacing, water/sewer/drainage infrastructure projects, and police and fire protection services
-
Specifies this payment is in addition to the 18.5% municipal allocation Jackson already receives under existing law
-
Effective July 1, 2016
Legislative Description
Sales tax; provide additional diversion to Jackson to defray ad valorem tax loss and increased costs incurred as seat of state government.
Last Action
Died In Committee
2/23/2016