House Bill 1698

AN ACT TO AMEND SECTION 27-3-46, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF THE AD VALOREM TAX EXEMPTION THAT A COUNTY BOARD OF SUPERVISORS MAY ALLOW FOR A RENEWABLE ENERGY PROJECT; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 27-31-46, Mississippi Code of 1972, is amended as follows:

27-31-46. (1) As used in this section, "project" means a facility, placed in operation after April 16, 2021, generating energy through the use of a renewable energy source such as wind, water, biomass or solar.

(2) In any project with a capital investment from private sources of not less than One Hundred Million Dollars ($100,000,000.00), all property, whether real, personal or mixed, including fixtures and leaseholds utilized in the project, including, but not limited to, operational and environmental property utilized in the project, may be exempted by the county board of supervisors from ad valorem taxation up to an amount not to exceed * * *~~fifty percent (50%)~~ sixty percent (60%) of the total assessed value of the project.

SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the ad valorem tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the ad valorem tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.

SECTION 3. This act shall take effect and be in force from and after January 1, 2022.