MS SB3107

Authorizes the City of Canton and Madison County Economic Development Authority to enter into agreements granting tax exemptions or fee-in-lieu arrangements for qualifying new or expanding enterprises locating on specified properties within two miles of Canton's municipal boundary.

Defines "qualified enterprise" to include new manufacturing enterprises, expansions of existing utilities or manufacturing operations, and any other persons or entities eligible for ad valorem tax exemptions under Mississippi state law.

Allows agreements to provide exemptions for up to 30 years in duration and binds successor governing authorities and boards for the full term, provided exemptions do not exceed limits set by state law.

Specifies five parcels of land totaling approximately 1,027.795 acres in Madison County where the agreement may apply upon annexation by the City of Canton, with detailed legal descriptions provided.

Takes effect immediately upon passage.