Bill
Bill > HB1635
summary
Introduced
01/19/2026
01/19/2026
In Committee
01/19/2026
01/19/2026
Crossed Over
Passed
Dead
02/03/2026
02/03/2026
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 27-31-104, Mississippi Code Of 1972, To Provide That For Any Project With A Capital Investment In Excess Of $1,000,000,000.00 For Which A Fee-in-lieu Of Ad Valorem Tax Agreement Is Entered Into After July 1, 2026, A Portion Of The Sum Allowed As A Fee-in-lieu On The Portion Of The Project In Excess Of $1,000,000,000.00 Shall Be Deposited Into The Mississippi Strategic Development Fund Created In This Act; To Extend The Date Of The Reverter On The Section Of Law; To Create The "mississippi Strategic Development Fund" As A Special Fund In The State Treasury; To Provide That Monies In The Fund Shall Be Expended By The Mississippi Development Authority, Upon Appropriation By The Legislature, To Provide Assistance Related To Projects In Mississippi For Making Strategic Infrastructure Investments, Furthering Economic Development And Making Quality Of Life Improvements Statewide; To Bring Forward Section 27-31-105, Mississippi Code Of 1972, Which Authorizes County Boards Of Supervisors And Municipal Authorities To Grant A Fee-in-lieu Of Ad Valorem Taxes For Expansions Of Facilities Or Properties, For The Purposes Of Possible Amendment; And For Related Purposes.
AI Summary
This bill modifies the "fee-in-lieu of ad valorem tax" program in Mississippi, which allows businesses to pay a fixed fee instead of property taxes. Specifically, for large projects with a capital investment exceeding $1 billion, a portion of the fee paid on the amount exceeding $1 billion will now be directed to a newly created "Mississippi Strategic Development Fund." This fund, managed by the Mississippi Development Authority, will be used for strategic infrastructure investments, economic development, and quality of life improvements across the state, with legislative appropriation required for its use. The bill also extends the expiration date for certain provisions related to this program and brings forward existing law regarding fee-in-lieu agreements for expansions of facilities to allow for potential future amendments.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/03/2026)
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/HB1635.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/1600-1699/HB1635IN.htm |
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