MS SB2209

Allows municipalities to treat enterprises already operating in annexed areas as "new enterprises" eligible for discretionary ad valorem tax exemptions under Chapter 27-31.

Sets the start date for initial exemption periods as the effective date of annexation rather than the original date the enterprise began operations.

Applies this treatment to enterprises enumerated in Section 27-31-101 (warehouses, manufacturing, research facilities, data centers, etc.) and hotels/motels under Section 27-31-103.

Allows annexed enterprises to qualify for fee-in-lieu agreements under Section 27-31-104 if they meet capital investment thresholds ($60 million for new enterprises, $100 million for private companies in disaster areas).

Makes conforming amendments to Sections 27-31-104, 27-31-105, 27-31-107, and 27-31-115 to reference annexed enterprises; contains dual effective dates with substantive provisions taking effect July 1, 2025.