MS HB1063

Authorizes county boards of supervisors in qualifying counties to designate renewable energy projects investing at least $100 million as "transformative renewable energy projects" through December 31, 2022.

Establishes an 8% assessment ratio for property owned by designated transformative renewable energy projects, replacing the standard 15% assessment ratio for Class II and III property.

Limits qualifying counties to those located north of U.S. Highway 82 with 2010 and current populations between 9,000 and 19,000 residents.

Applies the 8% assessment ratio to fee-in-lieu of ad valorem taxes agreements and remains in effect for the duration of any agreement with the qualifying county.

Amends Section 27-35-4 to allow the reduced assessment ratio as an exception to standard property assessment rates and updates Section 27-31-104 effective July 1, 2021.