MISSISSIPPI LEGISLATURE

2006 Regular Session

To: Ways and Means

By: Representative Watson

House Bill 997

AN ACT TO AMEND SECTION 27-69-75, MISSISSIPPI CODE OF 1972, AS AMENDED BY SENATE BILL NO. 2310, 2006 REGULAR SESSION, TO INCREASE THE AMOUNT OF REVENUE FROM THE TOBACCO EXCISE TAX THAT IS DEPOSITED INTO THE MUNICIPAL TOBACCO TAX DIVERSION FUND; AND FOR RELATED PURPOSES.

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

     SECTION 1.  Section 27-69-75, Mississippi Code of 1972, as amended by Senate Bill No. 2310, 2006 Regular Session, is amended as follows:

     27-69-75.  (1)  All taxes levied by this chapter shall be payable to the commissioner in cash, or by personal check, cashier's check, bank exchange, post office money order or express money order, and shall be deposited by the commissioner in the State Treasury on the same day collected.  No remittance other than cash shall be a final discharge of liability for the tax assessed and levied under this chapter, unless and until it has been paid in cash to the commissioner.

     (2)  Of the revenue collected monthly as a result of the tax assessed and levied under this chapter:

          (a)  (i)  Through June 30, 2007, One Million Eight Hundred Thousand Dollars ($1,800,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (ii)  From and after July 1, 2007, through June 30, 2008, Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (iii)  From and after July 1, 2008, through June 30, 2009, Two Million Eight Hundred Fifty Thousand Dollars ($2,850,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (iv)  From and after July 1, 2009, through June 30, 2010, Three Million Two Hundred Thousand Dollars ($3,200,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (v)  From and after July 1, 2010, through June 30, 2011, Three Million Five Hundred Seventy-five Thousand Dollars ($3,575,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (vi)  From and after July 1, 2011, through June 30,2012, Three Million Nine Hundred Thousand Dollars ($3,900,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (vii)  From and after July 1, 2012, through June 30, 2013, Four Million Two Hundred Ninety Thousand Dollars ($4,290,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (viii)  From and after July 1, 2013, through June 30, 2014, Four Million Six Hundred Forty Thousand Dollars ($4,640,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

              (ix)  From and after July 1, 2014, Five Million Five Hundred Thousand Dollars ($5,500,000.00) shall be deposited by the commissioner into the Municipal Tobacco Tax Diversion Fund created under Section 5 of Senate Bill No. 2310, 2006 Regular Session.

          (b)  (i)  Through June 30, 2007, One Million Eighty Thousand Dollars ($1,080,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (ii)  From and after July 1, 2007, through June 30, 2008, One Million Five Hundred Twelve Thousand Dollars ($1,512,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (iii)  From and after July 1, 2008, through June 30, 2009, One Million Seven Hundred Twenty-eight Thousand Dollars ($1,728,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (iv)  From and after July 1, 2009, through June 30, 2010, One Million Nine Hundred Forty-four Thousand Dollars ($1,944,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (v)  From and after July 1, 2010, through June 30,2011, Two Million One Hundred Sixty Thousand Dollars ($2,160,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (vi)  From and after July 1, 2011, through June 30, 2012, Two Million Three Hundred Seventy-six Thousand Dollars ($2,376,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (vii)  From and after July 1, 2012, through June 30, 2013, Two Million Five Hundred Ninety-two Thousand Dollars ($2,592,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (viii)  From and after July 1, 2013, through June 30, 2014, Two Million Eight Hundred Eight Thousand Dollars ($2,808,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

              (ix)  From and after July 1, 2014, Three Million Twenty-four Thousand Dollars ($3,024,000.00) shall be deposited by the commissioner into the Education Enhancement Fund created under Section 37-61-33.

          (c)  (i)  Through June 30, 2007, Two Hundred Seventy Thousand Dollars ($270,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (ii)  From and after July 1, 2007, through June 30, 2008, Three Hundred Seventy-eight Thousand Dollars ($378,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (iii)  From and after July 1, 2008, through June 30, 2009, Four Hundred Thirty-two Thousand Dollars ($432,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (iv)  From and after July 1, 2009, through June 30, 2010, Four Hundred Eighty-six Thousand Dollars ($486,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (v)  From and after July 1, 2010, through June 30, 2011, Five Hundred Forty Thousand Dollars ($540,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (vi)  From and after July 1, 2011, through June 30, 2012, Five Hundred Ninety-four Thousand Dollars ($594,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (vii)  From and after July 1, 2012, through June 30, 2013, Six Hundred Forty-eight Thousand Dollars ($648,000.00)shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (viii)  From and after July 1, 2013, through June 30, 2014, Seven Hundred Two Thousand Dollars ($702,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

              (ix)  From and after July 1, 2014, Seven Hundred Fifty-six Thousand Dollars ($756,000.00) shall be deposited by the commissioner into the School Ad Valorem Tax Reduction Fund created under Section 37-61-35.

     (3)  Except as otherwise provided in subsection (2) of this section, all tobacco taxes collected, including tobacco license taxes, shall be deposited into the State Treasury to the credit of the General Fund.

     (4)  Wholesalers who are entitled to purchase stamps at a discount, as provided by Section 27-69-31, may have consigned to them, without advance payment, those stamps, if and when thewholesaler gives to the commissioner a good and sufficient bond executed by some surety company authorized to do business in this state, conditioned to secure the payment for the stamps so consigned.  The commissioner shall require payment for thosestamps not later than thirty (30) days from the date the stamps were consigned.

     SECTION 2.  This act shall take effect and be in force from and after July 1, 2006.