Senate Bill 2540 Summary

• Extends the repeal date of the Mississippi Health Care Industry Zone Act from July 1, 2025 to July 1, 2026, allowing continued operation of the program for an additional year.

• Extends the deadline for county boards of supervisors and municipal authorities to grant ad valorem tax exemptions to health care industry facilities from July 1, 2025 to July 1, 2026, and removes the reverter on the statute.

• Extends the deadline for granting fee-in-lieu of ad valorem taxes to qualified health care businesses under the Act from July 1, 2025 to July 1, 2026, and removes the reverter on the statute.

• Extends the repeal date for sales tax exemptions on materials used in construction of health care industry facilities and machinery/equipment used in those facilities from July 1, 2025 to July 1, 2026.

• Brings forward related sections of the Health Care Industry Zone Act (Sections 57-117-1 through 57-117-9) for purposes of possible amendment; takes effect June 30, 2025.