summary
Introduced
01/19/2026
01/19/2026
In Committee
02/20/2026
02/20/2026
Crossed Over
02/04/2026
02/04/2026
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Provide That The Department Of Finance And Administration Shall Establish A Program To Make Grants To Farmers To Assist With The Purchase Of New Farm Tractors And Parts And Labor Used To Maintain And/or Repair Such Tractors, And New Farm Implements Taxed At The Rate Of 1.5% Under Section 27-65-17; To Provide An Application Process For The Program; To Create The "farm Equipment Grant Fund" As A Special Fund In The State Treasury; To Provide That Monies In The Fund Shall Be Used By The Department Of Finance And Administration, Upon Appropriation By The Legislature, To Make Grants Under This Act; To Amend Section 27-65-75, Mississippi Code Of 1972, To Provide That A Portion Of The State Sales Tax Revenue Collected From The Retail Sales Of Farm Tractors And Parts And Labor Used To Maintain And/or Repair Such Tractors, And Farm Implements Taxed At The Rate Of 1.5% Under Section 27-65-17, Shall Be Deposited Into The Farm Equipment Grant Fund Created In This Act; And For Related Purposes.
AI Summary
This bill establishes a new grant program managed by the Department of Finance and Administration to help farmers purchase new farm tractors and implements, as well as cover parts and labor for maintaining and repairing these tractors. To fund this program, a portion of the state sales tax revenue collected from the retail sales of these specific farm equipment items will be deposited into a newly created "Farm Equipment Grant Fund." Farmers applying for these grants will need to provide documentation of their farming status, a description of their needs, the costs involved, and the amount of assistance requested, with a maximum grant limit of $50,000 per recipient per year, and recipients cannot apply in consecutive years. The bill also amends existing law to specify how this sales tax revenue will be directed to the new fund, ensuring that money collected from these agricultural purchases will directly support the grant program.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred To Finance (on 02/20/2026)
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/2026/pdf/history/HB/HB1523.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/1500-1599/HB1523PS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/1500-1599/HB1523CS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/1500-1599/HB1523IN.htm |
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