2020 Regular Session Fee-in-lieu of ad valorem taxes; revise certain provisions regarding school ad valorem taxes. AN ACT TO AMEND SECTION 27-31-104, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES COUNTY BOARDS OF SUPERVISORS AND MUNICIPAL AUTHORITIES TO ENTER INTO FEE-IN-LIEU OF AD VALOREM TAX AGREEMENTS, TO PROVIDE THAT A COUNTY BOARD OF SUPERVISORS AND MUNICIPAL AUTHORITIES MAY ENTER INTO A FEE-IN-LIEU AGREEMENT WITH AN ENTERPRISE, PRIVATE COMPANY OR OTHER BUSINESS PARTY, AND GRANT A FEE-IN-LIEU OF AD VALOREM TAXES, EXCLUDING AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES, TOGETHER WITH AN EXEMPTION FROM ALL AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES WITHOUT REQUIRING ANY ANNUAL FEE-IN-LIEU AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES; PROVIDED THAT THE MINIMUM SUM ALLOWABLE UNDER SUCH AGREEMENT AS A FEE-IN-LIEU OF AD VALOREM TAXES, EXCLUDING AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES, SHALL NOT BE LESS THAN ONE-THIRD OF THE AD VALOREM LEVY, EXCLUDING AD VALOREM TAXES FOR SCHOOL DISTRICT PURPOSES AND SUCH AGREEMENT SHALL CONTRACTUALLY OBLIGATE THE ENTERPRISE, PRIVATE COMPANY OR OTHER BUSINESS PARTY TO SUCH AGREEMENT TO MAKE ONE OR MORE ANNUAL GIFTS OR OTHER DONATIONS TO THE SCHOOL DISTRICT THAT WOULD OTHERWISE BE SUBJECT TO SUCH AGREEMENT IF IT WERE ENTERED INTO PURSUANT TO OTHER PROVISIONS OF LAW; AND FOR RELATED PURPOSES. 11/13/20 at 09:08 H B 1572 House Bill 1572 HB 1572 H Dead Revenue Yes Three/Fifths July 1, 2020 Ways and Means F ../../House_cmtes/WM.xml Finance T ../../Senate_cmtes/FI.xml Steverson ../../House_authors/Steverson.xml A

027-0031-0104

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