MS HB1092

Amends Section 61-3-21 of the Mississippi Code to restrict ad valorem tax exemptions for structures and improvements on airport property to those with direct aeronautical use.

Tax exemptions now apply only if the current, primary use of structures, improvements, and facilities have a real, substantial, and direct relation to aircraft takeoff or other aeronautical purposes.

Specifies aeronautical purposes include manufacturing or maintaining aircraft or component parts, shipping or transporting freight by aircraft, and providing transportation to airline passengers.

Applies to all contracts, leases, and arrangements for airport or air navigation facilities owned or controlled by airport authorities established under the Airport Authorities Law.