2006 Regular Session
To: Ways and Means
By: Representative Cummings
AN ACT TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO DELETE THE PROVISION PROVIDING THAT REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES TO A TAXING UNIT MAY NOT BE MORE THAN ONE HUNDRED SIX PERCENT OF THE REIMBURSEMENT MADE TO THE TAXING UNIT FOR THE PRECEDING YEAR; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-33-79, Mississippi Code of 1972, is amended as follows:
27-33-79. Notwithstanding the limitation imposed on reimbursement of tax losses in Section 27-33-77, no taxing unit shall be reimbursed * * * less than the amount of the reimbursement made to the same taxing unit, for the next preceding year, unless such reimbursement is reduced as a result of a reduction in approved homestead applicants; however, for the 1986 calendar year, no taxing unit shall be reimbursed less than the amount of the reimbursement made to the same taxing unit for the 1985 calendar year.
SECTION 2. This act shall take effect and be in force from and after July 1, 2006.