Adopted

AMENDMENT NO 1 PROPOSED TO

House Bill No. 1142

BY: Representative Lamar

AMEND on line 31 by inserting "installing, remodeling, renovating," after "erecting".

AMEND further on line 33 by inserting "roof," after "building".

     AMEND further on line 46 by inserting the following after the period:  " The tax levied under this section upon the construction of a new residential dwelling structure shall be due within sixty (60) days after the date a certificate of occupancy is issued for the structure.  However, for the construction of a new residential dwelling structure where the structure is owned as part of land developed by the owner and is not constructed for use as a dwelling by the owner but for the purpose of the owner selling the land with the structure as part of the real property, the tax levied by this section shall be levied against the total sales price between the owner and purchaser, excluding the value of the land and any closing costs for the sale such as realtor fees and attorney fees paid for by the owner.  Every contractor issued an MPC for the construction of a new residential structure must file a report with the Department by January 20 of each year to report any dwelling that was completed but not sold within the prior calendar year."

     AMEND further on line 135 before the word "Any" and inserting in lieu thereof the following:  "Except as otherwise provided in this paragraph (c),".

     AMEND further on line 159 by inserting the following after the period:  "The requirement for a bond or prepayment of tax under this paragraph (c), shall not apply to the construction of a new residential dwelling structure."

     AMEND further on line 181 by striking "brought forward" and inserting in lieu thereof "amended".

     AMEND further by inserting the following after line 296:

          "(e)  On or before August 15, 2021, and each succeeding month thereafter, eighteen and one-half percent (18-1/2%) of the total sales tax revenue collected during the preceding month under the provisions of Section 27-65-21 from business activities for constructing, building, erecting, repairing or adding to any building, electrical system, air-conditioning system, heating system or any other improvement or structure which is used for or primarily in connection with a residence or dwelling place for human beings, shall be deposited into the special fund created in Section 3 of this act.  For the purposes of this paragraph (e), such residences shall include homes, mobile homes, summer cottages, fishing and hunting camp buildings and similar buildings, but shall not include apartment buildings, condominiums, hotels, motels, hospitals, nursing or retirement homes, tourist cottages or other commercial establishments." 

     AMEND further by inserting the following after line 649 and renumbering the succeeding sections accordingly:

     "SECTION 3.  There is hereby created a special fund in the State Treasury.  The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state.  The fund shall consist of monies deposited therein under Section 27-65-75(1)(e) and monies from any other source designated for deposit into such fund.  Monies in the fund shall be distributed by the Department of Revenue to municipalities based on the proportion that the amount of sales tax revenue collected under Section 27-65-17 in a municipality during the preceding fiscal year from sales by businesses with the North American Industry Classification System Code of 4441 bears to the total amount of sales tax revenue collected under Section 27-65-17 in all municipalities during the preceding fiscal year from sales by businesses with the North American Industry Classification System Code of 4441.  The Department of Revenue shall distribute funds under this section on an annual basis with distributions being made in the month of January."

     AMEND further the title on lines 7 through 10 by striking "TO BRING FORWARD SECTION 27-65-75, MISSISSIPPI CODE OF 1972, WHICH PROVIDES FOR THE DISTRIBUTION OF STATE SALES TAX REVENUE, FOR THE PURPOSES OF POSSIBLE AMENDMENT;" and inserting in lieu thereof the following:  "TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A PORTION OF STATE SALES TAX REVENUE DERIVED FROM THE CONTRACTOR'S TAX SHALL BE DEPOSITED INTO A SPECIAL FUND CREATED BY THIS ACT IN THE STATE TREASURY AND DISTRIBUTED TO MUNICIPALITIES;"