MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Appropriations

By: Representative Green (34th)

AN ACT TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT PAID BY THE STATE TO COUNTIES BECAUSE OF HOMESTEAD EXEMPTION TAX LOSSES; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO INCREASE THE CAP ON HOMESTEAD EXEMPTION TAX LOSS REIMBURSEMENT TO TAXING UNITS; 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) Except as otherwise provided in subsection (2) of this section, beginning with the 1985 supplemental roll, and for each succeeding year's roll thereafter through the 1999 supplemental roll, 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.

(2) Beginning with the 1999 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 Seventy-five Dollars ($75.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Fifty Dollars ($150.00) 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.

Provided further, that 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.

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 for any calendar year through 1999 more than one hundred six percent (106%) or more than one hundred twenty percent (120%) for any calendar year after 1999, 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 * * *.

SECTION 3. This act shall take effect and be in force from and after July 1, 1999.