Mississippi Legislature
2006 Regular Session

House Bill 1613

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Bill Text

History of Actions

Background

Title

Description: Homestead exemption; increase for persons 65 or older or totally disabled, revise reimbursements for homestead exemption revenue losses.

Bill Text: [Introduced]

History of Actions:

1 02/15 (H) Referred To Ways and Means
2 02/22 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2006
DispositionDead
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths

House Committee:

Principal Author: Davis

Additional Authors: Barnett, Chism, Denny, Fillingane, Moore, Rotenberry, Upshaw, Wells-Smith

Code Sections: A 027-0033-0075, A 027-0033-0077, A 027-0033-0079

Title: AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF HOMESTEAD EXEMPTION FOR PERSONS WHO ARE SIXTY-FIVE YEARS OF AGE OR OLDER OR WHO ARE TOTALLY DISABLED; TO PROVIDE THAT BEGINNING JANUARY 1, 2010, AND EVERY FOURTH YEAR THEREAFTER, THE AMOUNT OF SUCH HOMESTEAD EXEMPTION SHALL BE INCREASED BY A PERCENTAGE AMOUNT EQUAL TO THE CUMULATIVE UNITED STATES INFLATION RATE FOR THE PREVIOUS FOUR CALENDAR YEARS AS CERTIFIED BY THE CHAIRMAN OF THE STATE TAX COMMISSION; TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES TO A TAXING UNIT MAY NOT BE MORE THAN ONE HUNDRED FIFTEEN PERCENT OF THE REIMBURSEMENT MADE TO THE TAXING UNIT FOR THE PRECEDING YEAR; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/22/06 at 18:37.

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