1998 Regular Session
By: Senator(s) Johnson (19th), Kirby, White (29th)
Senate Bill 2711
AN ACT TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT FOR TAX LOSSES SUSTAINED BY COUNTIES BECAUSE OF HOMESTEAD EXEMPTION; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-33-77, Mississippi Code of 1972, is amended as follows:
27-33-77. (1) Beginning with the 1985 supplemental roll, and for each succeeding year's roll thereafter, the amount of tax loss to be reimbursed because of exemptions provided for in this article shall be Fifty Dollars ($50.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Dollars ($100.00) per applicant qualifying for homestead exemption under this article.
(2) In addition to the amount necessary to fund the reimbursement provided for in subsection (1) of this section, the following amounts shall be appropriated to the commission to reimburse counties for the tax loss sustained because of exemptions provided for in this article for county taxes:
(a) 1998 supplemental roll -- Five Million Dollars ($5,000,000.00);
(b) 1999 supplemental roll -- Ten Million Dollars ($10,000,000.00);
(c) 2000 supplemental roll -- Fifteen Million Dollars ($15,000,000.00);
(d) 2001 supplemental roll -- Twenty Million Dollars ($20,000,000.00);
(e) 2002 supplemental roll -- Twenty-five Million Dollars ($25,000,000.00);
(f) 2003 supplemental roll -- Thirty Million Dollars ($30,000,000.00);
(g) 2004 supplemental roll -- Thirty-five Million Dollars ($35,000,000.00);
(h) 2005 supplemental roll -- Forty Million Dollars ($40,000,000.00);
(i) 2006 supplemental roll -- Forty-five Million Dollars ($45,000,000.00); and
(j) 2007 supplemental roll and for each year's succeeding roll thereafter -- Fifty Million Dollars ($50,000,000.00).
(3) The additional amounts required to be appropriated pursuant to subsection (2) of this section shall be distributed by the commission to each county in the proportion that the number of homestead exemption applications allowed in each county bears to the total number of homestead exemption applications allowed in all counties of the state; provided, however, that in no event shall any county be reimbursed pursuant to this section an amount greater than the tax loss such county actually sustains as a result of exemptions provided for in this article.
(4) The reimbursement received by the county shall be distributed by the county treasurer to the general fund. Such reimbursement may be pledged as security for any loan received by the county for the purpose of capital improvements as authorized under Section 57-1-303, or for the purpose of loans as authorized under Section 17-24-7, or for the purpose of water systems improvements as authorized under Section 41-3-16.
(5) Provided further, that tax losses sustained by municipalities because of exemptions granted to homeowners described in subsection (2) of Section 27-33-67 shall be reimbursed up to the amount of the actual exemption allowed, not to exceed Two Hundred Dollars ($200.00) per qualified applicant.
SECTION 2. Section 27-33-79, Mississippi Code of 1972, is amended as follows:
27-33-79. Notwithstanding the limitation imposed on reimbursement of tax losses in Section 27-33-77, no taxing unit shall be reimbursed more than one hundred six percent (106%), except as otherwise provided in this section, or less than the amount of the reimbursement made to the same taxing unit, for the next preceding year, unless such reimbursement is reduced as a result of a reduction in approved homestead applicants; however, for the 1986 calendar year, no taxing unit shall be reimbursed less than the amount of the reimbursement made to the same taxing unit for the 1985 calendar year. However, the limitation on reimbursement of tax losses imposed in this section shall not apply to the reimbursement of tax losses authorized in Section 27-33-77(2).
SECTION 3. This act shall take effect and be in force from and after July 1, 1998.