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Bill > HB278
MS HB278
MS HB278Sixteenth section land; authorize leasing of certain land by cities/counties for less than minimum percentage of market value under certain circumstances.
summary
Introduced
01/27/2020
01/27/2020
In Committee
05/12/2020
05/12/2020
Crossed Over
03/05/2020
03/05/2020
Passed
Dead
06/09/2020
06/09/2020
Introduced Session
2020 Regular Session
Bill Summary
An Act To Amend Section 29-3-63, Mississippi Code Of 1972, To Provide That If A Board Of Education Leases Or Extends A Lease On Sixteenth Section Land That Is Classified As Industrial, Commercial Or Recreational With The Governing Authorities Of Any Municipality Or County, Then The Board May Lease Or Extend The Lease For Less Than The Minimum Acceptable Percentage, Which Is Five Percent Of The Current Market Value, As Long As The Lease Of The Land Is Utilized By The Governing Authorities For A Public Purpose; And For Related Purposes.
AI Summary
This bill amends Mississippi law to allow the Board of Education to lease or extend a lease on sixteenth section land classified as industrial, commercial, or recreational to a municipality or county for less than the minimum acceptable percentage of 5% of the current market value, as long as the land is utilized by the municipality or county for a public purpose. The bill provides an exception to the general requirement that such land must be leased at a rate of at least 5% of the current market value, excluding any buildings or improvements not owned by the school district.
Committee Categories
Education, Government Affairs
Sponsors (2)
Last Action
Died In Committee (on 06/09/2020)
Official Document
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