MS HB1692

Extends sales tax exemptions to limited liability companies (LLCs) or other entities that are wholly owned by a railroad authority created under Mississippi's Railroad Authorities Law

Requires the LLC or entity to use purchased personal property and services solely in the operation of or as part of railroad properties and facilities in Mississippi to qualify for the exemption

The exemption applies to the same extent as sales tax exemptions already granted to railroad authorities themselves

"Railroad properties and facilities" is defined by reference to Section 19-29-5 of the Mississippi Code

Effective date of July 1, 2017