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Bill > HB520
MS HB520
MS HB520Use tax; revise certain provisions regarding funds distributed to municipalities/counties for road improvements.
summary
Introduced
01/18/2021
01/18/2021
In Committee
02/16/2021
02/16/2021
Crossed Over
02/03/2021
02/03/2021
Passed
04/01/2021
04/01/2021
Dead
Signed/Enacted/Adopted
04/16/2021
04/16/2021
Introduced Session
2021 Regular Session
Bill Summary
An Act To Amend Section 27-67-35, Mississippi Code Of 1972, Which Creates Special Funds In The State Treasury To Be Used To Provide Funds To Assist Municipalities In Paying Costs Associated With Road And Bridge Improvements And Water And Sewer Infrastructure Improvements And To Assist Counties In Paying Costs Associated With Road And Bridge Improvements, To Provide That A Municipality Or County May Use Such Funds As A Pledge To Pay All Or A Portion Of Debt Service On Debt Issued By The Municipality Or County For Such Purposes; And For Related Purposes.
AI Summary
This bill amends Section 27-67-35 of the Mississippi Code to allow municipalities and counties to use the special funds created under this section as a pledge to pay all or a portion of the debt service on debt issued by the municipality or county for the purposes of repairing, maintaining, and/or reconstructing roads, streets, bridges, water infrastructure, and sewer infrastructure. The bill also provides that the Department of Revenue and the Department of Audit have the necessary powers to ensure the proper implementation of these provisions.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Approved by Governor (on 04/16/2021)
Official Document
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