Bill Text: MS HB1617 | 2014 | Regular Session | Introduced

Mississippi House Bill 1617 (Prior Session Legislation)

Introduced

Bill Title: Ad valorem taxes; authorize certain counties/municipalities to exempt new hotels/motels.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2014-02-26 - Died In Committee [HB1617 Detail]

Download: Mississippi-2014-HB1617-Introduced.html

MISSISSIPPI LEGISLATURE

2014 Regular Session

To: Ways and Means

By: Representative Thomas

House Bill 1617

AN ACT TO AMEND SECTION 27-31-103, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD OF SUPERVISORS OF ANY COUNTY AND THE GOVERNING AUTHORITIES OF ANY MUNICIPALITY IN WHICH THERE IS LOCATED A MAJOR MUSICAL HERITAGE MUSEUM AS DESIGNATED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY TO EXEMPT FROM COUNTY OR MUNICIPAL AD VALOREM TAXATION, AS THE CASE MAY BE, ALL TANGIBLE PROPERTY, EXCEPT MOTOR VEHICLES, USED IN OR NECESSARY TO THE OPERATION OF NEW ENTERPRISES THAT ARE COMMONLY OR USUALLY DESIGNATED AS HOTELS OR MOTELS AND COMPLETED AND OPENED FOR INITIAL COMMERCIAL OPERATIONS AFTER JULY 1, 2014; TO PROVIDE THAT AN EXEMPTION GRANTED UNDER THIS ACT MAY NOT EXCEED TEN YEARS; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 27-31-103, Mississippi Code of 1972, is amended as follows:

27-31-103. (1) (a) County boards of supervisors and municipal authorities in counties bordering on the Gulf of Mexico are hereby authorized and empowered, in their discretion, to grant exemption from ad valorem taxation in addition to those enumerated in Section 27-31-101, except state ad valorem taxation, on all tangible property, excepting motor vehicles, used in or necessary to the operation of new enterprises completed after May 6, 1958, which enterprises are commonly or are usually designated as hotels, motels, or both.

(b) In the case of the county board of supervisors, the exemption shall not exceed five (5) years and in the case of the municipal authorities, the exemption shall not exceed ten (10) years. Said exemption may be granted in the case of domestic corporations, without regard to the date of its charter, and in the case of foreign corporations, without regard to the date on which it qualified to do business, and is authorized to do business, and in the case of an individual enterprise, said exemption shall be granted from the date said work is commenced.

(c) No new exemption from ad valorem taxes levied for school district purposes shall be granted pursuant to this * * *~~section~~ subsection from and after July 1, 1990.

(2) The board of supervisors of any county and the governing authorities of any municipality, as the case may be, in which there is located a major musical heritage museum, as designated by the Mississippi Development Authority, may exempt from county or municipal ad valorem taxation, as the case may be, all tangible property, except motor vehicles, used in or necessary to the operation of new enterprises that are (a) commonly or usually designated as hotels or motels, or both, and (b) completed and opened for initial commercial operations after July 1, 2014. An exemption granted under this subsection may not exceed ten (10) years.

SECTION 2. This act shall take effect and be in force from and after July 1, 2014.