House Bill 1863

AN ACT TO AUTHORIZE THE MAYOR AND BOARD OF ALDERMEN OF THE CITY OF SOUTHAVEN TO ESTABLISH A MUNICIPAL TAX REBATE PROGRAM UNDER WHICH THE CITY WILL REFUND TO THE TAXPAYERS OF THE CITY UP TO TWENTY-FIVE PERCENT OF THE SURPLUS FUNDS IN THE GENERAL FUND OF THE CITY; AND FOR RELATED PURPOSES.

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

SECTION 1. The Mayor and Board of Aldermen of the City of Southaven, Mississippi, in their discretion, may establish a municipal tax rebate program under which the city will refund to the taxpayers of the city, in the form of rebate payments, up to twenty-five percent (25%) of the surplus funds in the general fund of the city. The municipal tax rebate program established under this section shall be operated in accordance with rules and regulations adopted by the mayor and board of aldermen of the city.

SECTION 2. This act shall take effect and be in force from and after its passage.