MS HB133

Increases the percentage of sales tax revenue from business activities diverted to municipalities in four phases: 19% (August 2017-July 2018), 19.5% (August 2018-July 2019), 20% (August 2019 onward), up from the previous 18.5% rate.

Applies these increases to sales tax revenue collected under specified sections of Mississippi Code, excluding certain taxes on specific business activities.

Maintains existing provisions allowing municipalities to pledge allocated tax revenue as security for loans and requiring municipalities to notify the state 30 days before expanding limits or incorporating.

Preserves the 10% withholding of municipal allocations if the State Auditor issues a certificate of noncompliance under Section 21-35-31.

Becomes effective July 1, 2017.