2005 Regular Session
By: Senator(s) Michel, Chaney, Posey, Kirby, Nunnelee, White, King, Dearing, Wilemon, Flowers, Walley, Williamson, Browning, Albritton, Davis, Clarke, Pickering, Hewes, Hyde-Smith, Jackson (15th), Doxey, Morgan, Brown, Ross
AN ACT TO PROVIDE THAT CERTAIN POLLUTION CONTROL EQUIPMENT MANDATED BY FEDERAL OR STATE LAW OR REGULATION SHALL BE EXEMPT FROM AD VALOREM TAXATION EXCEPT AD VALOREM TAXATION FOR SCHOOL DISTRICT PURPOSES, FOR A PERIOD OF TEN YEARS FROM THE DATE OF ACQUISITION OF THE EQUIPMENT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) Pollution control equipment purchased after July 1, 2005, by manufacturers or custom processors for industrial use shall be exempt from ad valorem taxation, except ad valorem taxes for school district purposes, for a period of ten (10) years from the date of acquisition of the equipment.
(2) As used in this section, "pollution control equipment" means equipment, devices, machinery or systems that are used exclusively and directly to prevent, control, monitor or reduce air, water or groundwater pollution, or solid or hazardous waste as required by federal or state law or regulation.
SECTION 2. This act shall take effect and be in force from and after July 1, 2005.