MS SB3026

Expands ad valorem tax exemption eligibility to personal property stored in licensed free port warehouses that is later transported to one other location within Mississippi for production or processing into a component or part, provided the final product is then shipped outside the state

Maintains existing exemptions for property moving through Mississippi in interstate commerce, property stored for transit to destinations outside the state, and goods manufactured in Mississippi and temporarily stored pending out-of-state shipment

Grants county boards of supervisors and municipal governing authorities discretion to approve or deny the tax exemption for qualifying warehouses in their jurisdiction

Preserves all tax claims, assessments, and enforcement actions for taxes due before the act's effective date

Effective date of January 1, 2017