2007 Regular Session
To: Ways and Means
By: Representative Mayo, Hamilton (6th), Jennings, Mayhall
AN ACT TO REPEAL SECTION 27-33-79, MISSISSIPPI CODE OF 1972, WHICH PROVIDES THAT NO TAXING UNIT SHALL BE REIMBURSED MORE THAN 106% OR LESS THAN THE AMOUNT OF THE REIMBURSEMENT FOR HOMESTEAD EXEMPTION REVENUE LOSSES MADE TO THE SAME TAXING UNIT FOR THE NEXT PRECEDING YEAR, UNLESS THE REIMBURSEMENT IS REDUCED AS A RESULT OF A REDUCTION IN APPROVED HOMESTEAD APPLICANTS; 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, which provides that no taxing unit shall be reimbursed more than one hundred six percent (106%) or less than the amount of the reimbursement for homestead exemption revenue losses made to the same taxing unit for the next preceding year, unless the reimbursement is reduced as a result of a reduction in approved homestead applicants, is repealed.
SECTION 2. This act shall take effect and be in force from and after July 1, 2007.