MS SB2014

Enterprises already operating in areas annexed by a municipality would qualify as "new enterprises" eligible for discretionary ad valorem tax exemptions for up to 10 years, with the exemption period beginning on the effective date of annexation

Eligible enterprise types include warehouses, distribution centers, manufacturers, research facilities, corporate headquarters, movie studios, air transportation facilities, recreational tourism facilities, data centers, and telecommunications enterprises

Hotels and motels in counties bordering the Gulf of Mexico that become annexed would also qualify as new enterprises eligible for municipal ad valorem tax exemptions

Annexed enterprises meeting the $60 million project threshold would be eligible for fee-in-lieu of ad valorem tax agreements, which can last up to 30 years with the fee set at no less than one-third of normal ad valorem taxes

Applications for exemptions on annexed enterprises must be filed by June 1 of the year following the annexation, with approval required from both local governing authorities and the Mississippi Department of Revenue