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 Exempt From Ad Valorem Taxation 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 exempts certain business personal property from ad valorem (property) taxation in Mississippi. Starting in 2024, the exemption will gradually increase from 10% of the assessed value to the full 100% exemption by 2033 and thereafter. The term "eligible personal property" refers to furniture, fixtures, and equipment used solely on the business premises, excluding motor vehicles, certain Class IV property, and property on which an income tax credit may be claimed. The bill 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/HB0665.xml |
| BillText | http://billstatus.ls.state.ms.us/documents/2023/html/HB/0600-0699/HB0665IN.htm |
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