Bill Text: MS HB862 | 2020 | Regular Session | Engrossed
Bill Title: Ad valorem tax; revise penalty for failure of public service corporations to render schedules of property to Department of Revenue for assessment purposes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2020-06-09 - Died In Committee [HB862 Detail]
Download: Mississippi-2020-HB862-Engrossed.html
MISSISSIPPI LEGISLATURE
2020 Regular Session
To: Ways and Means
By: Representative Lamar
House Bill 862
(As Passed the House)
AN ACT TO AMEND SECTION 27-35-305, MISSISSIPPI CODE OF 1972, TO REVISE THE PENALTY FOR FAILURE OF A RAILROAD OR OTHER PUBLIC SERVICE CORPORATION TO RENDER SCHEDULES OF PROPERTY WITH THE DEPARTMENT OF REVENUE FOR AD VALOREM TAX ASSESSMENT PURPOSES AS REQUIRED BY LAW; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-35-305, Mississippi Code of 1972, is amended as follows:
27-35-305. If any company,
corporation, firm or person, who is required by law to render schedules of its,
their or his property to the * * * Department of Revenue,
as provided by Section 27-35-303, Mississippi Code of 1972, for the purposes of
assessment for taxation, shall fail, refuse or neglect to render the schedules,
as required, such company, corporation, firm or person shall pay a penalty * * * in the amount of ten percent (10%)
of the assessment as computed by the * * * Department of Revenue,
and in case of such failure, refusal or neglect, the * * * department shall make out
such schedules from the best information obtainable.
SECTION 2. This act shall take effect and be in force from and after July 1, 2020.
