1997 Regular Session
By: Representative Young
House Bill 378
AN ACT TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE TAX LOSSES SUSTAINED BY MUNICIPALITIES WITH A POPULATION OF 5,000 OR LESS AS A RESULT OF HOMESTEAD EXEMPTION AND THE AD VALOREM TAX EXEMPTION FOR PERSONS 65 YEARS OF AGE OR OLDER OR WHO ARE TOTALLY DISABLED, SHALL BE REIMBURSED UP TO THE AMOUNT OF THE ACTUAL EXEMPTION ALLOWED; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-33-77, Mississippi Code of 1972, is amended as follows:
27-33-77. (1) Beginning with the 1985 supplemental roll, and for each succeeding year's roll thereafter, the amount of tax loss to be reimbursed because of exemptions provided for in this article shall be Fifty Dollars ($50.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Dollars ($100.00) per applicant qualifying for homestead exemption under this article.
The reimbursement received by the county shall be distributed by the county treasurer to the general fund. Such reimbursement may be pledged as security for any loan received by the county for the purpose of capital improvements as authorized under Section 57-1-303, or for the purpose of loans as authorized under Section 17-24-7, or for the purpose of water systems improvements as authorized under Section 41-3-16.
(2) * * * Tax losses sustained by municipalities because of exemptions granted to homeowners described in subsection (2) of Section 27-33-67, shall be reimbursed up to the amount of the actual exemption allowed, not to exceed Two Hundred Dollars ($200.00) per qualified applicant. Beginning with reimbursements made for the 1997 tax year, tax losses sustained by municipalities with a population of five thousand (5,000) or less according to the latest federal decennial census, because of exemptions provided for in this article, shall be reimbursed up to the amount of the actual exemption allowed.
SECTION 2. Section 27-33-79, Mississippi Code of 1972, is amended as follows:
27-33-79. Notwithstanding the limitation imposed on reimbursement of tax losses in Section 27-33-77, no taxing unit shall be reimbursed more than one hundred six percent (106%) or less than the amount of the reimbursement made to the same taxing unit, for the next preceding year, unless such reimbursement is reduced as a result of a reduction in approved homestead applicants; however, for the 1986 calendar year, no taxing unit shall be reimbursed less than the amount of the reimbursement made to the same taxing unit for the 1985 calendar year.
Beginning with reimbursements made for the 1997 tax year, the provisions of this section shall not apply to municipalities with a population of five thousand (5,000) or less according to the latest federal decennial census.
SECTION 3. This act shall take effect and be in force from and after January 1, 1997.