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MS SB3106
Bill
Status
2/23/2022
Primary Sponsor
Angela Turner-Ford
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AI Summary
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Authorizes county boards of supervisors and municipal authorities to grant fee-in-lieu of ad valorem taxes for owner-occupied homes, rental homes, and housing developments (both single-family and multifamily)
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Fee-in-lieu agreements for qualifying housing may last up to 5 years for standard projects, or up to 10 years for multifamily rental developments with at least 4 units or for properties incorporating solar power
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Housing developments must comply with applicable comprehensive land-use plans or zoning ordinances to qualify for the tax arrangement
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Properties receiving a fee-in-lieu agreement under this provision cannot receive any other financial incentive from the granting county or municipality
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Effective date is July 1, 2022
Legislative Description
Ad valorem tax; authorize fee-in-lieu of taxes for owner-occupied or rental housing, whether single-family or multifamily.
Last Action
Died In Committee
2/23/2022