MS HB1337

Authorizes counties to receive 18.5% of sales tax revenue collected from business activities within a Tax Increment Financing (TIF) redevelopment project area if the county has issued TIF bonds and a development valued at $10,000,000 or more is located there

Requires counties to certify to the Department of Revenue that eligibility requirements are met, including the amount of bonded indebtedness and expected payoff date, before receiving any diverted sales tax revenue

Revenue diversion begins the month after the Department of Revenue confirms eligibility and ends when the county's TIF bond indebtedness is fully satisfied

All diverted sales tax revenue must be deposited into the fund created under the tax increment financing plan and used solely to pay off the county's TIF bond debt

Amends the Tax Increment Financing Act to explicitly allow TIF bonds to be serviced using sales tax revenue allocated to counties under this new provision