2007 Regular Session
By: Senator(s) Horhn, Frazier
AN ACT TO PROVIDE THAT THE STATE OF MISSISSIPPI SHALL PROVIDE FUNDS BY LEGISLATIVE APPROPRIATION OR FROM ANY OTHER SOURCE, IN THE AMOUNT OF $10,000,000.00, ANNUALLY, TO THE CITY OF JACKSON, MISSISSIPPI, FOR THE PURPOSE OF ASSISTING THE CITY TO DEFRAY THE AD VALOREM TAX LOSS SUSTAINED BY THE CITY AS A RESULT OF THE STATE OWNERSHIP OF PROPERTY IN THE CITY, AND FOR DEFRAYING INCREASED INFRASTRUCTURE AND PUBLIC SAFETY COSTS INCURRED BY THE CITY AS A RESULT OF BEING THE SEAT OF STATE GOVERNMENT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Beginning July 1, 2007, and each succeeding July 1 thereafter, the State of Mississippi shall provide funds by legislative appropriation or from any other source, in the amount of Ten Million Dollars ($10,000,000.00), annually, to the City of Jackson, Mississippi, for the purpose of assisting the city to defray the ad valorem tax loss the city sustains as a result of the state ownership of property described in Section 27-31-1(b), and for defraying increased infrastructure and law enforcement and other public safety costs the city incurs as a result of being the seat of state government.
SECTION 2. This act shall take effect and be in force from and after July 1, 2007.