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MS HB278
Bill
Status
6/9/2020
Primary Sponsor
Manly Barton
Click for details
AI Summary
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Amends Section 29-3-63 of Mississippi Code to allow boards of education to lease or extend leases on sixteenth section land classified as industrial, commercial, or recreational to municipalities or counties at rates below the standard 5% minimum of current market value.
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Permits reduced lease rates only when the municipality or county uses the leased land for a public purpose.
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Maintains the standard 5% minimum annual rental requirement for leases with private parties and non-public entities.
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Takes effect July 1, 2020.
Legislative Description
Sixteenth section land; authorize leasing of certain land by cities/counties for less than minimum percentage of market value under certain circumstances.
Last Action
Died In Committee
6/9/2020