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MS HB4004
MS HB4004Ad valorem tax; exempt certain tractors, agricultural implements and equipment, and vehicles.
summary
Introduced
02/18/2026
02/18/2026
In Committee
02/18/2026
02/18/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 27-31-1, Mississippi Code Of 1972, To Exempt From Ad Valorem Taxation Tractors, Agricultural Implements And Equipment, And Vehicles, Not Exempt Under Section 27-51-41(2), While In The Hands Of A Bona Fide Dealer As Merchandise On A Floor Plan, Consignment Or Other Basis; And For Related Purposes.
AI Summary
This bill amends Mississippi law to exempt certain agricultural equipment and vehicles from ad valorem taxes, which are taxes based on the value of property. Specifically, tractors, agricultural implements and equipment, and vehicles that are not already exempt under another section of law will be exempt from these taxes when they are held by a legitimate dealer as merchandise, whether on a floor plan (a type of financing where a dealer pays interest on inventory until it's sold), consignment (where a dealer sells goods owned by another party), or any other similar arrangement. This exemption is intended to provide tax relief to agricultural businesses and dealers.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred To Ways and Means (on 02/18/2026)
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/HB4004.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/4000-4099/HB4004IN.htm |
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