MS HB35

Department of Revenue shall annually deposit one-half of insurance premium tax revenue collected on homeowners insurance policies into a new "County Fire Protection Assistance Fund" in the State Treasury.

Fund monies are distributed to counties based on the location of properties on which homeowners insurance policies were written, with each county receiving one-half of the tax revenue generated from policies on properties within that county.

Counties may use disbursed funds for fire protection service purposes including training expenses, equipment and fire truck purchases, repairs, capital construction, insurance on firefighting equipment, and fire protection service contracts.

Unexpended fund amounts do not lapse into the General Fund at fiscal year end, and interest earnings are deposited back into the fund.

Act takes effect July 1, 2019.