MS HB230

Expands the definition of "cost of a redevelopment project" under Mississippi's Tax Increment Financing Act to include operation and maintenance expenses for property rights (rights-of-way, easements, or other property interests) purchased by a municipality, if authorized in the redevelopment plan.

Amends Section 21-45-11 to require that tax increment financing plans specifically describe cost estimates in accordance with Section 21-45-19.

Replaces references to "State Tax Commission" with "Department of Revenue" in Sections 21-45-21 to reflect current state agency structure for certifying assessed values and sales tax collections.

Clarifies in Section 21-45-21 that municipalities may use captured assessed value to finance redevelopment project costs as defined in Section 21-45-19, including the newly added operation and maintenance costs for property rights.

Effective date: July 1, 2018.