MS SB2910

Brings forward Section 27-31-19 of the Mississippi Code of 1972 for possible amendment regarding ad valorem tax exemptions.

Exempts oil, gas, and petroleum products from all ad valorem taxes levied by the state, counties, municipalities, and other taxing districts when owned by refinery operators and either in transit to, situated at, being refined at, or refined at a Mississippi refinery.

Extends the exemption to oil, gas, and petroleum products owned by corporations that control, are controlled by, or are under common control with a refinery operator.

Excludes finished petroleum products held at marketing bulk plants or retail service stations from the exemption.

Takes effect July 1, 2024.