Loading chat...
MS HB1276
Bill
Status
Failed
2/25/2026
Primary Sponsor
Jeffery Harness
Click for details
AI Summary
- Removes the existing 66⅔% ad valorem tax exemption for nuclear fuel, nuclear fuel by-products, and related materials used in electricity generation by public utilities
- Creates a tiered distribution system for ad valorem taxes from high-risk facilities: 65% to the host county, 10% to adjacent counties, and 25% to the State General Fund
- Requires utility companies operating high-risk facilities like nuclear plants to make annual Payments in Lieu of Taxes (PILOT) consisting of a $5,000,000 base payment plus $0.01 per kilowatt-hour of electricity generated
- Mandates host counties allocate revenues for specific purposes: 40% for public infrastructure, 30% for education, 20% for healthcare and emergency preparedness, and 10% for economic development
- Requires the Department of Revenue to oversee implementation, with annual reporting requirements for utility companies on tax payments and counties on expenditures
Legislative Description
Statewide Utility Tax Reform Act; create.
Last Action
Died In Committee
2/25/2026
Committee Referrals
Public Utilities1/19/2026
Full Bill Text
No bill text available