MS HC89

Suspends Joint Rules deadlines to allow introduction and passage of legislation amending Mississippi Code sections 27-7-5, 27-13-5, and 27-13-7

Conditions initial scheduled tax rate reductions for phasing out income taxation on the first $5,000 of taxable income and the corporation franchise tax on two consecutive fiscal years with no state fiscal officer agency allocation reductions under Section 27-104-13

Prevents subsequent scheduled tax rate reductions from taking effect if agency allocation reductions occur in any fiscal year after an initial reduction becomes operable, requiring one full fiscal year without such reductions before the next reduction can proceed

Allows tax rate reductions to carry forward to the next calendar year if requirements are not met in the originally scheduled year, regardless of what tax rate reduction was scheduled for that subsequent year