MS SB2343

Authorizes municipalities to impose a special sales tax of up to 1% on gross proceeds of sales or business income taxed at 7% or more under Mississippi Sales Tax Law.

Requires approval by at least three-fifths of votes cast in a referendum before tax can be imposed, with notice published for at least three consecutive weeks.

Allows tax revenue to fund capital projects including recreational complexes, senior centers, libraries, major street projects, water and sewage systems, gas lines, and multipurpose buildings.

Permits municipalities to incur indebtedness for capital projects with debt service funded by special sales tax proceeds, excluding such debt from standard municipal indebtedness limits.

Requires tax to be discontinued upon project completion and retirement of related debt, but cannot continue more than 10 years without voter approval; Department of Revenue retains 3% of proceeds for collection costs.