Senate Bill 2017 Summary

• Removes ad valorem tax exemption for property belonging to foundations organized as nonprofit corporations under Section 501(c)(3) that receive and manage private support for state-supported higher education institutions, public community colleges, or nonprofit private universities and colleges in Mississippi.

• Removes ad valorem tax exemption for property belonging to entities wholly owned and controlled by such educational foundations.

• Removes ad valorem tax exemption for property belonging to federally qualified health centers.

• Effective date is July 1, 2023.