MS HB433

Allocates 18.5% of sales tax revenue collected from business activities outside municipalities in each county to that county, effective August 15, 2016.

Revenue diverted to counties excludes sales tax collected under specific sections (27-65-15, 27-65-19(3), 27-65-21, and 27-65-24).

County allocations are in addition to all other funds already allocated to counties under existing law.

Requires municipalities that expand limits or incorporate to notify the revenue commissioner 30 days in advance; failure results in forfeiture of revenue during the notification gap.

Amends Section 27-65-53 to allow counties (in addition to municipalities and state institutions) to adjust erroneous disbursements or have overpayments withheld from state funds owed to them.