2006 Regular Session
To: Ways and Means
By: Representative Watson
AN ACT TO AMEND SECTION 27-31-105, MISSISSIPPI CODE OF 1972, TO AUTHORIZE BOARDS OF SUPERVISORS AND MUNICIPAL AUTHORITIES TO GRANT AD VALOREM TAX EXEMPTIONS FOR ADDITIONS TO OR EXPANSIONS OF THE FACILITIES OR PROPERTY OR REPLACEMENT OF EQUIPMENT FOR CERTAIN ENTERPRISES WHEN THE INITIAL REQUEST FOR EXEMPTION IS NOT TIMELY MADE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-31-105, Mississippi Code of 1972, is amended as follows:
27-31-105. (1) Any person, firm or corporation who owns or operates a manufacturing or other enterprise of public utility as enumerated in Section 27-31-101 and who makes additions to or expansions of the facilities or properties or replaces equipment used in connection with or necessary to the operation of such enterprise may be granted an exemption from ad valorem taxation, except state ad valorem taxation, upon each * * * addition to or expansion of the facility or property or replacement of equipment, within the discretion of the county board of supervisors and municipal authorities; * * * however, such governing authorities shall not exempt ad valorem taxes for school district purposes on such additions or expansions of the facility or property, or replacement of equipment * * *. In order to obtain the exemptions authorized by this section, a person, firm or corporation shall follow the same procedure prescribed for obtaining an exemption on a new enterprise, except as otherwise provided in this section. For any additions, expansions or replacements with reference to any particular new enterprise, which * * * have been completed during any calendar year, only one (1) request must be made for the exemptions sought for the additions, expansions or replacements. The time ofthe exemptionshall commence from the date of completion of the additions, expansions or replacements, and shall extend for a period not to exceed ten (10) years thereafter; however, boards of supervisors and municipal authorities, in lieu of granting the exemption for one (1) period of ten (10) years, may grant the exemption in consecutive periods of five (5) years each, but the total of such consecutive periods shall not exceed ten (10) years. The initial request for an exemption must be made in writing by June 1 of the year immediately following the year in which the additions, expansions or replacements are completed. If the initial request for the exemption is not timely made, the board of supervisors or municipal authorities may grant a subsequent request for the exemption and, in such case, the exemption shall begin on the anniversary date of completion of the additions, expansions or replacements in the year in which the request is made and may be for a period of time extending not more than ten (10) years from the date of completion of the additions, expansions or replacements. Any subsequent request for the exemption must be made in writing by June 1 of the year in which it is granted.
(2) For expansions of facilities or properties or replacement of equipment, county boards of supervisors and municipal authorities may grant a fee in lieu of taxes in the same manner, to the same extent, and with the same qualifying threshold as provided for projects under Section 27-31-104, Mississippi Code of 1972.
SECTION 2. This act shall take effect and be in force from and after its passage.