Senate Bill 3004

AN ACT TO AMEND SECTION 17-21-5, MISSISSIPPI CODE OF 1972, TO REDUCE TO 20,000 THE MINIMUM POPULATION ACCORDING TO THE LATEST FEDERAL DECENNIAL CENSUS THAT A MUNICIPALITY MUST HAVE TO GRANT AN AD VALOREM TAX EXEMPTION FOR PRIVATELY OWNED NEW STRUCTURES AND ANY NEW RENOVATIONS OF AND IMPROVEMENTS TO EXISTING STRUCTURES LYING WITHIN A DESIGNATED BUSINESS IMPROVEMENT DISTRICT, URBAN RENEWAL DISTRICT OR REDEVELOPMENT DISTRICT, AS DETERMINED BY THE MUNICIPALITY; TO AMEND SECTION 27-31-31, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A MUNICIPALITY TO GRANT AD VALOREM TAX EXEMPTIONS FOR NEW STRUCTURES OR IMPROVEMENTS TO OR RENOVATIONS OF EXISTING STRUCTURES LOCATED IN RESIDENTIAL RENEWAL DISTRICTS, AS DESIGNATED BY THE MUNICIPALITY; TO AMEND SECTION 27-31-32, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A MUNICIPALITY TO GRANT AD VALOREM TAX EXEMPTIONS FOR IMPROVEMENTS TO OR RENOVATIONS OF EXISTING RESIDENTIAL STRUCTURES OR EXISTING STRUCTURES CONVERTED FOR RESIDENTIAL USE THAT ARE LOCATED IN RESIDENTIAL RENOVATION DISTRICTS, AS DESIGNATED BY THE MUNICIPALITY; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 17-21-5, Mississippi Code of 1972, is amended as follows:

17-21-5. (1) The governing authorities of any municipality of this state may, in their discretion, exempt from any or all municipal ad valorem taxes, excluding ad valorem taxes for school district purposes, for a period of not more than seven (7) years, any privately owned new structures and any new renovations of and improvements to existing structures lying within a designated central business district or historic preservation district or on a historic landmark site, as determined by the municipality, but only in the event such structures shall have been constructed, renovated or improved pursuant to the requirements of an approved project of the municipality for the development of the central business district and/or the preservation and revitalization of historic landmark sites or historic preservation districts. The tax exemption authorized herein may be granted only after written application has been made to the governing authorities of the municipality by any person, firm or corporation claiming the exemption, and an order passed by the governing authorities of such municipality finding that the construction, renovation or improvement of said property is for the promotion of business, commerce or industry in the designated central business district or for the promotion of historic preservation.

(2) The governing authorities of any municipality of this state with a population of * * * ~~twenty‑five thousand (25,000)~~ twenty thousand (20,000) or more according to the latest federal decennial census, may, in their discretion, exempt from any or all municipal ad valorem taxes, excluding ad valorem taxes for school district purposes, for a period of not more than seven (7) years, any privately owned new structures and any new renovations of and improvements to existing structures lying within a designated business improvement district, urban renewal district or redevelopment district, as determined by the municipality, but only in the event such structures shall have been constructed, renovated or improved pursuant to the requirements of an approved project of the municipality for the development of the business improvement district, urban renewal district or redevelopment district. The tax exemption authorized herein may be granted only after written application has been made to the governing authorities of the municipality by any person, firm or corporation claiming the exemption, and an order passed by the governing authorities of such municipality finding that the construction, renovation or improvement of said property is for the promotion of business, commerce or industry in the designated business improvement district, urban renewal district or redevelopment district.

SECTION 2. Section 27-31-31, Mississippi Code of 1972, is amended as follows:

27-31-31. (1) The governing authorities of any municipality are authorized, in their discretion, to grant exemptions from ad valorem taxation, except ad valorem taxation for school district purposes, for new structures or improvements to or renovations of existing structures located in the designated central business district of the municipality or in a residential renewal district as designated by the municipality, for a period of not more than ten (10) years from the date of the completion of the new structure or the improvement to or renovation of the existing structure for which the exemption is granted.

(2) Any person, firm or corporation desiring to obtain the exemption authorized in this section shall first file a written application therefor with the governing authorities of the municipality, providing full information about the property for which the exemption is requested, including the true value of all such property, and the date from which the exemption is to begin. Any application for an exemption under this section must be made within twelve (12) months from the date of the completion of the new structure or the improvement to or renovation of the existing structure for which the exemption is requested. The governing authorities of the municipality may, by order spread on their minutes, approve such application for all or any part of the property for which the exemption is requested and for all or any part of the authorized period of exemption. The order shall specify the property to be exempted and the dates when such exemption begins and expires. The municipal clerk shall record the application and the order approving the same in a book kept in his office for that purpose, and shall file one (1) copy of the application and the order with the * * * ~~Chairman of the State Tax Commission~~ Commissioner of Revenue.

(3) Any exemption granted under this section shall be in lieu of ad valorem tax exemptions authorized under any other provision of law.

SECTION 3. Section 27-31-32, Mississippi Code of 1972, is amended as follows:

27-31-32. (1) The governing authorities of any municipality are authorized, in their discretion, to grant exemptions from ad valorem taxation, except ad valorem taxation for school district purposes, for improvements to or renovations of existing residential structures or existing structures converted for residential use that are located in the areas that are designated as blighted by the municipality or which are located in a residential renewal district, as designated by the municipality, for a period of not more than ten (10) years from the date of the completion of the improvement to or renovation of the existing structure for which the exemption is granted.

(2) Any person, firm or corporation desiring to obtain the exemption authorized in this section shall first file a written application for the exemption with the governing authorities of the municipality, providing full information about the property for which the exemption is requested, including the true value of the property, and the date from which the exemption is to begin. Any application for an exemption under this section must be made within twelve (12) months from the date of the completion of the improvement to or renovation of the existing structure for which the exemption is requested. The governing authorities of the municipality may, by order spread on their minutes, approve an application for all or any part of the property for which the exemption is requested and for all or any part of the authorized period of exemption. The order shall specify the property to be exempted and the dates when the exemption begins and expires. The municipal clerk shall record the application and the order approving the exemption in a book kept in his office for that purpose, and shall file one (1) copy of the application and the order with the Department of Revenue.

(3) Any exemption granted under this section shall be in lieu of ad valorem tax exemptions authorized under any other provision of law.

SECTION 4. This act shall take effect and be in force from and after July 1, 2018.