MS SB2072

Allows municipalities to treat pre-existing enterprises within newly annexed areas as "new enterprises" eligible for discretionary ad valorem tax exemptions under Mississippi Code Section 27-31-101.

Sets the exemption period start date as the effective date of municipal annexation rather than the original enterprise completion date, enabling up to 10 years of tax exemption from the annexation date.

Applies the same treatment to hotel and motel enterprises in annexed areas in coastal counties under Section 27-31-103.

Extends eligibility for fee-in-lieu agreements under Section 27-31-104 to enterprises annexed by municipalities, with the same $60 million capital investment threshold as new enterprises.

Updates application procedures in Section 27-31-107 to include "annexation" as a triggering event requiring exemption applications by June 1 of the following year.