MS SB2824

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, 2031.

Extends the deadline for county boards of supervisors and municipal authorities to authorize these 50% tax exemptions from July 1, 2026 to July 1, 2030.

Extends the deadline for entering fee-in-lieu agreements with qualified businesses at the reduced minimum rate of 1/10 (instead of 1/3) of ad valorem taxes from July 1, 2026 to July 1, 2030.

Extends the statutory reverter date on Section 27-31-104 from July 1, 2026 to July 1, 2028, maintaining the fee-in-lieu provisions for qualifying projects.

Applies to projects eligible under Section 27-31-46, which covers certain energy and economic development projects with initial construction beginning on or after July 1, 2022.