MS SB2922

Extends motor vehicle ad valorem tax credit eligibility to motorcycle owners beginning July 1, 2012, allowing them to receive the same credit percentage as private carriers of passengers and light carriers of property.

Lowers sales tax rate on motorcycles legally operable on public highways and subject to road and bridge privilege tax from 7% to 5%, effective July 1, 2017.

Directs sales and use tax revenue collected from qualifying motorcycle sales and rentals to be deposited into the Motor Vehicle Ad Valorem Tax Reduction Fund after diversions, beginning July 15, 2017.

Authorizes the Department of Revenue to establish equal percentage dollar credit amounts for private carriers of passengers, light carriers of property, and motorcycles proportional to their assessed values based on projected fund availability.

Effective date: July 1, 2017.