MS HB450

Eliminates school board authority to increase ad valorem taxes for school district purposes without voter approval through referendum, regardless of millage rate.

Requires school boards to call referendums whenever the millage rate necessary to generate requested tax dollars exceeds the current year's millage rate.

Changes the tax increase limitation effective with the 2017 fiscal year from a 7% cap (with exceptions) to a requirement that aggregate receipts cannot exceed the prior fiscal year amount without voter approval.

Requires school boards to advertise intention to request an election on tax increases and hold public meetings per Section 27-39-207 before adopting orders requesting elections.

Effective July 1, 2016; maintains existing exemptions for bonds, notes, disaster emergency relief, and legislatively mandated programs from referendum requirements.