House Bill 438 Summary

• Increases the percentage of total sales tax revenue from business activities diverted to Mississippi municipalities from 18.5% to 19% effective August 15, 2016 through July 15, 2017.

• Further increases the municipal diversion percentage to 19.5% effective August 15, 2017 through July 15, 2018.

• Raises the municipal diversion percentage to 20% effective August 15, 2018 and continuing thereafter.

• Applies the increased percentages to sales tax revenue collected under specified sections of Mississippi Code, excluding certain provisions related to contractors' taxes and specific exemptions.

• Takes effect July 1, 2016.