MS SB2959

Establishes an 8% assessment ratio for ad valorem taxes on property owned by "transformative renewable energy projects," compared to the standard 15% rate for similar property classes

Defines transformative renewable energy projects as those investing at least $100,000,000 in generating renewable energy within a qualifying county and designated by the county board of supervisors

Limits qualifying counties to those bordering the Mississippi River at the intersection of U.S. Highway 61 and State Highway 4 (Coahoma County)

Allows the reduced assessment ratio to remain in effect for the duration of any fee-in-lieu of ad valorem taxes agreement between the project and county

Sets December 31, 2022 as the deadline for county boards of supervisors to designate transformative renewable energy projects under this provision