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Bill > HB1063
MS HB1063
MS HB1063Transformative renewable energy projects; authorize boards of supervisors to designate as such for certain tax purposes.
summary
Introduced
01/18/2021
01/18/2021
In Committee
02/18/2021
02/18/2021
Crossed Over
02/04/2021
02/04/2021
Passed
Dead
03/02/2021
03/02/2021
Introduced Session
2021 Regular Session
Bill Summary
An Act To Authorize The Board Of Supervisors Of Any County To Designate Projects As Transformative Renewable Energy Projects; To Provide The Assessment Ratio For Property Owned By Transformative Energy Projects; To Bring Forward Section 27-35-4, Mississippi Code Of 1972, Which Relates To Rates Of Assessment For Property, For Purposes Of Amendment; To Bring Forward Section 27-31-104, Mississippi Code Of 1972, Which Relates To Grant Of Fee-in-lieu Of Taxes For Certain Projects, For Purposes Of Amendment; And For Related Purposes.
AI Summary
This bill authorizes the board of supervisors of any county in Mississippi located north of U.S. Highway 82 with a population between 9,000 and 19,000 to designate certain renewable energy projects as "transformative renewable energy projects." These designated projects would be assessed at 8% of their true value for ad valorem tax purposes, rather than the standard 15% assessment ratio for Class II and III property. This special assessment ratio would be in effect for as long as any fee-in-lieu of ad valorem taxes agreement between the project and the qualifying county remains in effect. The authority of the board of supervisors to designate such projects expires on December 31, 2022.
Committee Categories
Agriculture and Natural Resources
Sponsors (2)
Last Action
Died In Committee (on 03/02/2021)
Official Document
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