Bill
Bill > HB625
MS HB625
Ad valorem taxes; revise certain provisions regarding disposition of excess proceeds from sale of land for.
summary
Introduced
01/15/2025
01/15/2025
In Committee
01/15/2025
01/15/2025
Crossed Over
Passed
Dead
02/04/2025
02/04/2025
Introduced Session
2025 Regular Session
Bill Summary
An Act To Amend Section 27-41-77, Mississippi Code Of 1972, Which Relates To Land Sold For Nonpayment Of Taxes And The Disposition Of Any Excess In The Amount Bid For The Land, To Remove The Provision That Establishes A Period Of Two Years Within Which A Landowner May Request Payment To Him Of Such Excess Bid If The Land Is Not Redeemed; And For Related Purposes.
AI Summary
This bill modifies Mississippi state law regarding the handling of excess proceeds from land sales due to unpaid taxes. Currently, when land is sold for more than the amount of taxes owed, the excess funds are reported to the county chancery clerk and transferred to the county's general fund. The existing law allowed the original landowner to request payment of these excess funds within two years after the redemption period expired. The bill removes this two-year window provision, effectively meaning that if the landowner does not immediately request the excess funds after the property's redemption period, the county will permanently retain those funds. The change eliminates the previous time-limited opportunity for landowners to reclaim excess proceeds from tax sales. The bill is set to take effect on July 1, 2025, giving counties and potential landowners advance notice of this procedural change.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Died In Committee (on 02/04/2025)
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 | https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0625.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2025/html/HB/0600-0699/HB0625IN.htm |
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