MISSISSIPPI LEGISLATURE

1998 Regular Session

To: Ways and Means

By: Representative Livingston

AN ACT TO AMEND SECTION 75-76-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT NO MORE THAN FIVE MILLION DOLLARS OF THE FUNDS COLLECTED FROM THE STATE TAX COMMISSION PURSUANT TO THE FEE IMPOSED UNDER SECTION 75-76-195, MISSISSIPPI CODE OF 1972, WHICH EXCEED ONE HUNDRED TWENTY-THREE MILLION DOLLARS SHALL BE DEPOSITED INTO THE WILDLIFE HERITAGE FUND CREATED IN SECTION 49-5-77, MISSISSIPPI CODE OF 1972; TO PROVIDE THAT THE PROVISIONS OF THIS ACT SHALL BE REPEALED AFTER JUNE 30, 2003; AND FOR RELATED PURPOSES. 

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

SECTION 1. Section 75-76-129, Mississippi Code of 1972, is amended as follows:

75-76-129. (1) On or before the last day of each month all taxes, fees, interest, penalties, damages, fines or other monies collected by the State Tax Commission during that month under the provisions of this chapter, with the exception of (a) the local government fees imposed under Section 75-76-195, * * * (b) an amount equal to Three Million Dollars ($3,000,000.00) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), or an amount equal to twenty-five percent (25%) of the revenue collected pursuant to the fee imposed under Section 75-65-177(1)(c), whichever is the greater amount, and (c) the portion of taxes, fees, interest, penalties, damages, fines or other monies distributed under the provisions of subsection (2) of this Section 75-76-129, shall be paid by the State Tax Commission to the State Treasurer to be deposited in the State General Fund. The local government fees shall be distributed by the State Tax Commission pursuant to Section 75-76-197. An amount equal to Three Million Dollars ($3,000,000.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the State Tax Commission into the bond sinking fund created in Section 65-39-3. The revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) that is in excess of Three Million Dollars ($3,000,000.00), but is less than twenty-five percent (25%) of the amount of revenue collected during that month, shall be deposited into the State Highway Fund to be used exclusively for the reconstruction and maintenance of highways of the State of Mississippi.

(2) On or before the last day of fiscal year 1999, an amount of no more than Five Million Dollars ($5,000,000.00) of all taxes, fees, interest, penalties, damages, fines or other monies collected by the State Tax Commission at the end of fiscal year 1999, pursuant to the fee imposed under Section 75-76-177(1)(c), which exceeds One Hundred Twenty-Three Million Dollars ($123,000,000.00) shall be paid by the State Tax Commission to the State Treasurer to be deposited in the Wildlife Heritage Fund created in Section 49-5-77. This subsection (2) of Section 75-76-195 shall stand repealed from and after June 30, 2003.

75-76-129. On or before the last day of each month, all taxes, fees, interest, penalties, damages, fines or other monies collected by the State Tax Commission during that month under the provisions of this chapter, with the exception of the local government fees imposed under Section 75-76-195, shall be paid by the State Tax Commission to the State Treasurer to be deposited in the State General Fund. The local government fees shall be distributed by the State Tax Commission pursuant to Section 75-76-197.

SECTION 2. This act shall take effect and be in force from and after July 1, 1998.