House Bill 1442

AN ACT TO AMEND SECTION 17-21-7, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD OF SUPERVISORS OF ANY COUNTY TO EXEMPT FROM COUNTY AD VALOREM TAXES FOR UP TO SEVEN YEARS CERTAIN PRIVATELY OWNED NEW STRUCTURES AND NEW RENOVATIONS OF AND IMPROVEMENTS TO EXISTING STRUCTURES WITHIN OR OUTSIDE OF A MUNICIPALITY IN THE COUNTY; TO CREATE NEW SECTION 27-31-31.1, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD OF SUPERVISORS OF ANY COUNTY TO EXEMPT FROM COUNTY AD VALOREM TAXES FOR UP TO TEN YEARS CERTAIN NEW STRUCTURES AND NEW RENOVATIONS OF AND IMPROVEMENTS TO EXISTING STRUCTURES WITHIN OR OUTSIDE OF A MUNICIPALITY IN THE COUNTY; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 17-21-7, Mississippi Code of 1972, is amended as follows:

17-21-7. (1) The board of supervisors of any county * * * may, in its discretion, exempt from any or all county ad valorem taxes, excluding ad valorem taxes for school district purposes, for a period of not more than seven (7) years, any of the following structures:

(a) Any privately owned new structures and any new renovations of and improvements to existing structures * * * (i) within a designated central business district in a municipality that is located in the county, (ii) in a historic preservation district that is located within or outside of a municipality in the county, (iii) on a historic landmark site that is located within or outside of a municipality in the county, but only if those structures 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, or pursuant to the requirements of an approved project of the municipality or the county for the preservation and revitalization of historic landmark sites or historic preservation districts; and

(b) Any privately owned new structures and any new renovations of and improvements to existing structures outside of a municipality in the county that are used for business purposes, but only if those structures have been constructed, renovated or improved pursuant to the requirements of an approved project of the county for the development or promotion of business, commerce or industry in the county.

(2) The exemption from county ad valorem taxes authorized in this section may be granted only * * *~~upon~~ after written application has been made to the board of supervisors of the county by any person, firm or corporation claiming the exemption, and for structures described in subsection (1)(a) of this section, an order passed by the board of supervisors finding that the construction, renovation or improvement of the property is for the promotion of business, commerce or industry within a designated central business district in a municipality or for the promotion of historic preservation within or outside of a municipality, or for structures described in subsection (1)(b) of this section, an order passed by the board of supervisors finding that the construction, renovation or improvement of the property is for the development or promotion of business, commerce or industry in the county. * * *

SECTION 2. The following shall be codified as Section 27-31-31.1, Mississippi Code of 1972:

27-31-31.1. (1) The board of supervisors of any county 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 within a designated central business district in a municipality that is located in the county, or for new structures or improvements to or renovations of existing structures outside of a municipality in the county that are used for business purposes, 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) The board of supervisors of any county are authorized, in their discretion, to grant exemptions from ad valorem taxation, except ad valorem taxation for school district purposes, for improvement to or renovation of county designated residential renewal districts, for a period of not more than ten (10) years from the date of the completion of the improvement to or renovation of the designated residential renewal district for which the exemption is granted.

(3) Any person, firm or corporation desiring to obtain the exemption authorized in this section shall first file a written application therefor with the board of supervisors, 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 board of supervisors may, by order spread on its 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 chancery clerk shall record the application and the order approving the same in a book kept in his or her office for that purpose, and shall file one (1) copy of the application and the order with the Chairman of the Department of Revenue.

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

SECTION 3. This act shall take effect and be in force from and after July 1, 2021.