Bill Text: MS SB2981 | 2011 | Regular Session | Introduced

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Bill Title: Homestead exemption; repeal Section 27-33-79, which limits amount of reimbursement increases or decreases.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2011-02-01 - Died In Committee [SB2981 Detail]

Download: Mississippi-2011-SB2981-Introduced.html

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MISSISSIPPI LEGISLATURE

2011 Regular Session

To: Finance

By: Senator(s) Davis

Senate Bill 2981

AN ACT TO REPEAL SECTION 27-33-79, MISSISSIPPI CODE OF 1972, WHICH PROVIDES THAT NO TAXING UNIT SHALL BE REIMBURSED MORE THAN 106% OR LESS THAN THE AMOUNT OF THE REIMBURSEMENT MADE TO THE SAME TAXING UNIT FOR THE NEXT PRECEDING YEAR, UNLESS THE REIMBURSEMENT IS REDUCED AS A RESULT OF A REDUCTION IN APPROVED HOMESTEAD APPLICANTS; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  Section 27-33-79, Mississippi Code of 1972, which provides that no taxing unit shall be reimbursed more than one hundred six percent (106%) or less than the amount of the reimbursement made to the same taxing unit for the next preceding year, unless the reimbursement is reduced as a result of a reduction in approved homestead applicants, is repealed.

     SECTION 2.  This act shall take effect and be in force from and after July 1, 2011.