Bill
Bill > SB2824
MS SB2824
MS SB2824Ad valorem tax; extend deadlines for 50% exemption and lower fee-in-lieu minimum for certain projects and qualified businesses.
summary
Introduced
01/19/2026
01/19/2026
In Committee
01/19/2026
01/19/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 27-31-46.1, Mississippi Code Of 1972, To Extend The Initial Construction Deadline For Purposes Of Eligibility Of Certain Energy Projects For Certain Ad Valorem Tax Exemptions Of Up To 50% Of The Total Assessed Value Of The Projects; To Extend The Deadline By Which Counties And Municipalities May Authorize Such Exemptions; To Amend Section 27-31-104, Mississippi Code Of 1972, To Extend The Date By Which A Fee-in-lieu Agreement May Be Entered With Certain Qualified Businesses For Purposes Of The Minimum Fee-in-lieu Amount Of 1/10 Of The Total Of All Ad Valorem Taxes Otherwise Payable As Annually Determined; To Extend The Date Of The Reverter On The Statute; And For Related Purposes.
AI Summary
This bill extends deadlines for certain tax incentives for businesses in Mississippi, specifically by pushing back the initial construction deadline for energy projects eligible for up to a 50% ad valorem tax exemption from December 31, 2027, to December 31, 2031, and the deadline for counties and municipalities to authorize these exemptions from July 1, 2026, to July 1, 2030. Additionally, it extends the date by which certain qualified businesses can enter into a "fee-in-lieu" agreement, which allows them to pay a reduced amount of property taxes, from July 1, 2026, to July 1, 2030, ensuring that the minimum fee remains one-tenth of the otherwise payable ad valorem taxes for projects that qualify for both the exemption and the fee-in-lieu agreement. The bill also adjusts the reverter date on the statute, which is the date after which the provisions of the law would expire, to align with these extended deadlines.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Title Suff Do Pass Comm Sub (on 02/19/2026)
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/SB/SB2824.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2800-2899/SB2824CS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2800-2899/SB2824IN.htm |
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