MS HB665

Creates a phased exemption from ad valorem (property) taxes for business personal property including furniture, fixtures, and equipment used solely on business premises

Exemption increases by 10% annually starting at 10% in 2024 and reaching 100% full exemption by 2033

Defines "eligible personal property" as furniture, fixtures, and equipment classified as personal property for ad valorem tax purposes

Excludes motor vehicles, Class IV property (public utilities), and property eligible for income tax credits under Section 27-7-22.5 from the exemption

Takes effect July 1, 2023, with the tax exemption beginning January 1, 2024