MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Public Property; Finance

By: Senator(s) Dickerson, Moffatt, Hawks, Robertson, Rayborn, Bean

Senate Bill 2805

AN ACT TO AMEND SECTION 49-5-87, MISSISSIPPI CODE OF 1972, TO REIMBURSE GEORGE COUNTY, JACKSON COUNTY AND THE SCHOOL DISTRICTS IN SUCH COUNTY FOR THE AD VALOREM TAX LOSS THEY SUSTAIN AS A RESULT OF THE TRANSFER OF THE TITLE TO CERTAIN PROPERTY TO THE STATE OF MISSISSIPPI; AND FOR RELATED PURPOSES. 

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

SECTION 1. Section 49-5-87, Mississippi Code of 1972, is amended as follows:

49-5-87. (1) The committee shall have the power and is hereby authorized to purchase and take title in the name of the State of Mississippi, the following described land under the terms and conditions hereinafter provided, to wit:

Land presently owned by the Pascagoula Hardwood Company totaling some thirty-one thousand nine hundred sixteen (31,916) acres, more or less, situated as follows:

(a) Seventeen thousand two hundred seventy-eight (17,278) acres, more or less, in George County, Mississippi; and

(b) Fourteen thousand six hundred twenty-eight (14,628) acres, more or less, in Jackson County, Mississippi.

(2) The purchase price of such land shall not exceed its fair market value of Sixteen Million Five Hundred Thousand Dollars ($16,500,000.00) as of December 1, 1975, as determined by three (3) appraisals made by appraisers selected by the committee.

(3) Transfer of title to such property shall be by warranty deed or deeds vesting title in fee simple, excepting mineral rights where necessary, in the name of the State of Mississippi.

(4) The committee is hereby authorized and empowered to exercise on the lands described in subsection (1) of this section the same rights, powers and privileges as authorized and empowered under the provisions of "The Nongame and Endangered Species Conservation Act," being Sections 49-5-101 through 49-5-119.

(5) Individual leaseholders of the lands described in subsection (1) of this section, shall not be dispossessed of such lands prior to April 15, 1978, unless found to be in violation of the law and/or land management principles of Sections 49-5-101 through 49-5-119, or any other law, rule or regulation relating to the management of said lands.

(6) Beginning July 1, 1998, and each succeeding July 1 thereafter, George County, Jackson County and the school districts in such counties shall be reimbursed by the State of Mississippi for the ad valorem tax loss that such counties and school districts sustain as a result of the ownership of the property described in subsection (1) of this section by the State of Mississippi. The term "tax loss" as used in this subsection means the amount of ad valorem tax revenue that such counties or school districts would have received from ad valorem taxation of the property described in subsection (1) if such property was not exempt from ad valorem taxation as a result of its ownership by the State of Mississippi.

SECTION 2. This act shall take effect and be in force from and after July 1, 1997.