MS SB2471

Increases the state sales tax revenue diverted to municipalities from 18.5% to 20%, effective September 15, 2024, for business activities within municipal corporation limits.

Creates a new 20% diversion of state sales tax revenue to counties for business activities occurring outside municipalities within the county, effective September 15, 2024, with funds dedicated solely to repair, maintenance, and reconstruction of roads, streets, and bridges.

Amends Section 27-65-53 to clarify that counties, in addition to municipalities and state institutions of higher learning, may be subject to adjustment or withholding of funds for overpayments of tax.

County funds received under the new diversion shall not be considered general fund revenue but must be expended exclusively for road, street, and bridge infrastructure.