MS HB1701

Brings forward multiple Mississippi tax code sections relating to sales tax, use tax, fuel tax, gaming fees, and income tax for purposes of possible amendment by the legislature.

Includes provisions on sales tax rates (ranging from 1% to 7% depending on product type), use tax distribution formulas, fuel excise taxes (gasoline at 18 cents/gallon reducing to 14.4 cents, diesel at varying rates), and gaming license fees (4-8% of gross revenue).

Establishes distribution mechanisms for tax revenue to state and local funds, including allocations to education, highways, municipalities, and various special funds created under Mississippi law.

Modifies individual income tax rates with scheduled reductions through 2026, including elimination of tax on first $5,000 of income beginning 2022 and progressive reductions on income above $10,000 from 5% to 4% by 2026.

Takes effect July 1, 2024, and serves primarily as a procedural mechanism to bring tax statutes before the legislature for potential modification rather than implementing substantive tax changes.