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MS HB4004

Bill

Official Source

Status

Failed

2/25/2026

Primary Sponsor

Jody Steverson

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Exempts tractors, agricultural implements and equipment, and vehicles from ad valorem (property) taxation when held by bona fide dealers as merchandise on floor plan, consignment, or other basis
  • Applies only to items not already exempt under existing Section 27-51-41(2) of Mississippi Code
  • Amends Section 27-31-1 of Mississippi Code of 1972, which lists all property exempt from taxation in Mississippi
  • Does not affect any tax claims, assessments, or suits for taxes accrued before the effective date
  • Takes effect January 1, 2027

Legislative Description

Ad valorem tax; exempt certain tractors, agricultural implements and equipment, and vehicles.

Last Action

Died In Committee

2/25/2026

Committee Referrals

Ways and Means2/18/2026

Full Bill Text

No bill text available