2004 Regular Session
To: Public Utilities
By: Representative Weathersby
AN ACT TO PROVIDE THAT LANDOWNERS WHO LEASE REAL PROPERTY FOR COMMUNICATIONS TOWER PURPOSES SHALL BE ENTITLED TO TEN PERCENT OF THE VALUE OF ANY SUBLEASES ON THE SUBJECT PROPERTY; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) Whenever a landowner in the State of Mississippi enters into an agreement with another party granting that party a lease upon the landowner's real property for the purpose of constructing a communications tower, the landowner shall be entitled to an amount equal to ten percent (10%) of the value of any subleases on the subject property subsequently entered into by the leaseholder.
(2) This section shall remain in force regardless of whether the provisions of subsection (1) of this section are included in the terms of the lease agreement or not.
SECTION 2. This act shall take effect and be in force from and after July 1, 2004.