MS HB140

Amends Section 21-45-19 to include operation and maintenance costs of property rights (rights-of-way, easements, or other property interests) purchased by a municipality as part of redevelopment project costs, if authorized in the redevelopment plan.

Requires tax increment financing plans to reference Section 21-45-19 when estimating redevelopment project costs.

Replaces references to "State Tax Commission" with "Department of Revenue" in Sections 21-45-21 for consistency with current state agency structure.

Clarifies that captured assessed value may be used to finance costs described in Section 21-45-19, including operation and maintenance of acquired property rights.

Effective date: July 1, 2017.