MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Ways and Means

By: Representative Endt

AN ACT TO REPEAL SECTION 27-31-34, MISSISSIPPI CODE OF 1972, WHICH GRANTS AN AD VALOREM TAX EXEMPTION FOR POSSESSORY AND LEASEHOLD INTERESTS OF LESSEES UNDER CERTAIN LEASE CONTRACTS, LEASES OR LEASEHOLDS; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 27-31-34, Mississippi Code of 1972, which grants an ad valorem tax exemption for possessory and leasehold interests of lessees under certain lease contracts, leases or leaseholds, is repealed.

SECTION 2. This act shall take effect and be in force from and after January 1, 2000.