Bill Text | History of Actions | Background | Title |
Description: Master lease-purchase program; authorize DFA to develop program for counties and municipalities.
Bill Text: [Introduced]
| 1 | 01/16 (S) Referred To Fees, Salaries and Administration | |
| 2 | 01/31 (S) Died In Committee |
| Effective date | July 1, 2006 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
Senate Committee:
Principal Author: Morgan
Code Sections: A 031-0007-0010, A 027-0033-0077, A 027-0051-0107, A 027-0065-0075
Title: AN ACT TO AMEND SECTION 31-7-10, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO DEVELOP A MASTER LEASE-PURCHASE PROGRAM FOR COUNTIES AND MUNICIPALITIES AND, PURSUANT TO THAT PROGRAM, EXECUTE ON BEHALF OF COUNTIES AND MUNICIPALITIES MASTER LEASE-PURCHASE AGREEMENTS FOR EQUIPMENT TO BE USED BY THE COUNTIES AND MUNICIPALITIES; TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO AUTHORIZE COUNTIES AND MUNICIPALITIES TO PLEDGE AMOUNTS APPROPRIATED FOR HOMESTEAD EXEMPTION REIMBURSEMENT AS SECURITY FOR SUMS DUE UNDER THE MASTER LEASE-PURCHASE PROGRAM; TO AMEND SECTION 27-51-107, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A COUNTY TO PLEDGE FUNDS DUE TO BE PAID TO IT FROM THE MOTOR VEHICLE AD VALOREM TAX REDUCTION FUND AS SECURITY FOR SUMS DUE UNDER THE MASTER LEASE-PURCHASE PROGRAM; TO PROVIDE THAT UPON NOTIFICATION BY THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION OF A COUNTY'S DELINQUENCY UNDER THE MASTER LEASE-PURCHASE PROGRAM, THE STATE TAX COMMISSION SHALL HALT SUCH PAYMENTS TO THE COUNTY AND PAY THE COUNTY'S SHARE OF SUCH PAYMENTS TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION UNTIL SUCH TIME AS THE AMOUNT DUE UNDER THE MASTER LEASE-PURCHASE PROGRAM IS SATISFIED; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A MUNICIPALITY TO PLEDGE SALES TAX REVENUE ALLOCATED TO IT AS SECURITY FOR SUMS DUE UNDER THE MASTER LEASE-PURCHASE PROGRAM AND TO PROVIDE THAT UPON NOTIFICATION BY THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION OF A MUNICIPALITY'S DELINQUENCY UNDER THE MASTER LEASE-PURCHASE PROGRAM, THE STATE TAX COMMISSION SHALL HALT SUCH PAYMENTS TO THE MUNICIPALITY AND MAKE SUCH PAYMENTS TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION UNTIL SUCH TIME AS THE AMOUNT DUE UNDER THE MASTER LEASE-PURCHASE PROGRAM IS SATISFIED; AND FOR RELATED PURPOSES.
End Of Document
2006/pdf/History/SB/SB2721.htm