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Bill > HB663
MS HB663
MS HB663Ad valorem taxation; provide partial exemption for certain business personal property.
summary
Introduced
01/16/2023
01/16/2023
In Committee
01/16/2023
01/16/2023
Crossed Over
Passed
Dead
02/22/2023
02/22/2023
Introduced Session
2023 Regular Session
Bill Summary
An Act To Provide A Partial Ad Valorem Tax Exemption For Certain Personal Property That Is Owned By A Business Enterprise And Used By The Business Enterprise Solely On The Premises Of The Business Enterprise In The Operation Of The Enterprise; And For Related Purposes.
AI Summary
This bill provides a partial ad valorem (property) tax exemption for certain business personal property, such as furniture, fixtures, and equipment, used solely on the business premises. The exemption applies to up to $20,000 of the assessed value of the eligible personal property. The bill excludes motor vehicles, certain types of Class IV property, and property for which an income tax credit can be claimed. The exemption will take effect on January 1, 2024, and the bill itself will take effect on July 1, 2023.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/22/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://billstatus.ls.state.ms.us/2023/pdf/history/HB/HB0663.xml |
| BillText | http://billstatus.ls.state.ms.us/documents/2023/html/HB/0600-0699/HB0663IN.htm |
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