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MS HB648
Bill
Status
2/5/2019
Primary Sponsor
Manly Barton
Click for details
AI Summary
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Amends Section 29-3-63, Mississippi Code of 1972, to allow boards of education to lease or extend leases on sixteenth section land classified as industrial, commercial, or recreational to municipalities or county boards of supervisors below the standard minimum rental rate.
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Permits leases at rates less than five percent of current market value when the municipality or county uses the land for a public purpose, rather than requiring the standard five percent minimum rental compensation.
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Applies only to leases with municipal or county governing authorities for public purposes; the five percent minimum rental requirement remains in effect for all other lessees and land classifications.
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Takes effect July 1, 2019.
Legislative Description
Sixteenth section land; authorize leasing of certain land by municipalities/counties for less than minimum percentage if land leased for public purpose.
Last Action
Died In Committee
2/5/2019