Bill Text | History of Actions | Background | Title |
Description: Ad valorem tax; require cities/counties to reduce millage rate for purposes of calculating proposed increase where assessed value increases.
Bill Text: [Introduced]
| 1 | 02/21/00 | (H) | Referred To Ways and Means | |
| 2 | 03/07/00 | (H) | Died In Committee |
| Effective date | July 1, 2000 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | Yes |
House Committee:
Principal Author: Simpson
Additional Author: Barnett (116th)
Code Sections: A 021-0033-0045, A 027-0039-0307, A 027-0039-0317, A 027-0039-0320, A 027-0039-0321
Title: AN ACT TO AMEND SECTIONS 21-33-45, 27-39-307, 27-39-317, 27-39-320 AND 27-39-321, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IF BECAUSE OF AN INCREASE IN THE ASSESSED VALUATION OF A MUNICIPALITY OR COUNTY THE AD VALOREM TAX MILLAGE RATE FOR THE EXISTING FISCAL YEAR WILL GENERATE FUNDS FOR THE NEXT FISCAL YEAR IN EXCESS OF THAT GENERATED FOR THE EXISTING FISCAL YEAR, THEN FOR PURPOSES OF DETERMINING WHETHER THE RATE OR LEVY PROPOSED FOR THE NEXT FISCAL YEAR IS AN INCREASE FROM THE PREVIOUS YEAR, THE GOVERNING AUTHORITIES OF THE MUNICIPALITY OR BOARD OF SUPERVISORS OF THE COUNTY SHALL REDUCE THE AD VALOREM TAX MILLAGE RATE BY THE NECESSARY AMOUNT TO PROVIDE THAT THE REVENUE GENERATED FOR THE NEXT FISCAL YEAR IS THE SAME AS THAT GENERATED FOR THE EXISTING FISCAL YEAR AND USE SUCH REDUCED MILLAGE RATE AS THE BASIS TO DETERMINE WHETHER THE RATE OR LEVY PROPOSED FOR THE NEXT FISCAL YEAR IS AN INCREASE FROM THE PREVIOUS YEAR AND TO DETERMINE WHETHER ANY PROPOSED INCREASE IN REVENUE FOR THE NEXT FISCAL YEAR COMPLIES WITH CERTAIN LIMITATIONS ON AD VALOREM TAX REVENUE INCREASES; AND FOR RELATED PURPOSES.
End Of Document
2000/html/History/HB/HB1336.htm