Bill
Bill > HB697
MS HB697
MS HB697Ad valorem taxes; extend reverter on authority for late payment without penalty or interest when exemption was inadvertently extended.
summary
Introduced
02/06/2020
02/06/2020
In Committee
05/11/2020
05/11/2020
Crossed Over
03/10/2020
03/10/2020
Passed
06/22/2020
06/22/2020
Dead
Signed/Enacted/Adopted
06/29/2020
06/29/2020
Introduced Session
2020 Regular Session
Bill Summary
An Act To Amend Section 27-35-157, Mississippi Code Of 1972, To Remove The Reverter On The Provision That If Property Is Found To Have Escaped Ad Valorem Taxation Due To A County Board Of Supervisors Having Granted An Ad Valorem Tax Exemption Authorized By Law And Then Inadvertently Allowing The Exemption To Extend Beyond The Period Authorized By Law For The Exemption, A Taxpayer May Pay The Ad Valorem Taxes, Without Any Penalty Or Interest, Which Otherwise Would Have Been Levied On The Property Had It Not Been Inadvertently Exempted From Ad Valorem Taxation By The County Board Of Supervisors; And For Related Purposes.
AI Summary
This bill extends the reverter on the authority for late payment of ad valorem taxes without penalty or interest when a property tax exemption was inadvertently extended beyond the authorized period. Specifically, it removes the June 30, 2020 expiration date on the provision that allows taxpayers to pay the back taxes without penalty or interest in such cases. This provides an ongoing exemption from penalties and interest in situations where a county board of supervisors mistakenly allowed a property tax exemption to continue longer than it was authorized.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Approved by Governor (on 06/29/2020)
Official Document
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