MS HB708

Repeals the ad valorem tax exemption for nuclear generating plants owned or operated by public utilities on July 1, 2025, ending the current in-lieu payment system.

Brings forward related statutes governing in-lieu payments to counties with nuclear plants, ad valorem tax limitations, the Grand Gulf Disaster Assistance Trust Fund, and school district funding formulas for possible amendment.

Maintains current in-lieu payment requirements and distributions until the July 1, 2025 repeal date, including $3,040,000 annually to Claiborne County and $160,000 annually to Port Gibson.

Requires review and potential amendment of tax limitation provisions (Sections 27-39-305 and 27-39-320), school funding formula provisions (Sections 37-57-105, 37-151-87, and 37-151-211), and the Grand Gulf Disaster Assistance Trust Fund (Section 33-15-51).

Takes effect July 1, 2025.