MS HB1063

Expands the definition of "project" eligible for ad valorem tax exemptions to include battery energy storage system facilities, whether standalone or co-located with generation facilities, in addition to existing renewable energy facilities (wind, water, biomass, solar).

Extends the initial construction deadline for energy projects to qualify for up to 50% ad valorem tax exemptions from December 31, 2027 to December 31, 2036.

Extends the deadline for counties and municipalities to authorize ad valorem tax exemptions for qualifying energy projects from July 1, 2026 to July 1, 2035.

Adds battery energy storage system facilities to the enumerated list of new enterprises eligible for up to 10-year ad valorem tax exemptions from county boards of supervisors and municipal authorities.

Extends the reverter date on Sections 27-31-101 and 27-31-104 from June 30, 2026 to June 30, 2029, and extends the deadline for entering fee-in-lieu agreements with a minimum fee of 1/10 (instead of 1/3) of ad valorem taxes from July 1, 2026 to July 1, 2035.