2005 Regular Session
To: Municipalities; County Affairs
By: Representative Ellington
AN ACT TO PROVIDE THAT THE BOARD OF SUPERVISORS OF ANY COUNTY AND THE GOVERNING AUTHORITIES OF ANY MUNICIPALITY MAY AUTHORIZE ANY PERSON WHO INCURS REMEDIATION COSTS RELATING TO A BROWNFIELD PROPERTY TO RECEIVE A CERTAIN PERCENT OF THE ADDED INCREMENTS OF MUNICIPAL AND COUNTY ADVALOREM TAX REVENUES DERIVED FROM THE PROPERTY BECAUSE OF THE REMEDIATION; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The board of supervisors of any county and the governing authorities of any municipality may authorize any person, as defined by Section 17-17-3, who incurs remediation costs for activities relating to a brownfield property under Sections 49-35-1 through 49-35-25, as approved by the Department of Environmental Quality, to receive fifty percent (50%) of the added increments of municipal and county advalorem tax revenues derived from the property because of the remediation. If more than one person incurs such remediation costs for a brownfield property, the fifty percent (50%) of added increments of such advalorem tax revenues shall be distributed proportionately among such persons on a proportionate basis, based on their costs incurred for remediation of the property.
(2) Any request for a payment under this section must be made in writing on an application form prescribed by the supervisors or governing authorities, providing full information about the property for which the application is made, documentation verifying that the costs comply with Sections 49-35-1 through 49-35-25, and any other information required by the board of supervisors or governing authorities.
SECTION 2. This act shall take effect and be in force from and after July 1, 2005.