Bill Text | History of Actions | Background | Title |
Description: Homestead exemption; increase for persons 65 or older or totally disabled, revise reimbursements for homestead exemption revenue losses.
Bill Text: [Introduced]
| 1 | 02/15 (H) Referred To Ways and Means | |
| 2 | 02/22 (H) Died In Committee |
| Effective date | July 1, 2006 | |
| Disposition | Dead | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Davis
Additional Authors: Barnett, Chism, Denny, Fillingane, Moore, Rotenberry, Upshaw, Wells-Smith
Code Sections: A 027-0033-0075, A 027-0033-0077, A 027-0033-0079
Title: AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF HOMESTEAD EXEMPTION FOR PERSONS WHO ARE SIXTY-FIVE YEARS OF AGE OR OLDER OR WHO ARE TOTALLY DISABLED; TO PROVIDE THAT BEGINNING JANUARY 1, 2010, AND EVERY FOURTH YEAR THEREAFTER, THE AMOUNT OF SUCH HOMESTEAD EXEMPTION SHALL BE INCREASED BY A PERCENTAGE AMOUNT EQUAL TO THE CUMULATIVE UNITED STATES INFLATION RATE FOR THE PREVIOUS FOUR CALENDAR YEARS AS CERTIFIED BY THE CHAIRMAN OF THE STATE TAX COMMISSION; TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT REIMBURSEMENT OF HOMESTEAD EXEMPTION REVENUE LOSSES TO A TAXING UNIT MAY NOT BE MORE THAN ONE HUNDRED FIFTEEN PERCENT OF THE REIMBURSEMENT MADE TO THE TAXING UNIT FOR THE PRECEDING YEAR; AND FOR RELATED PURPOSES.
End Of Document
2006/html/History/HB/HB1613.htm