MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Finance

By: Senator(s) Rayborn

AN ACT TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT TO COUNTIES FOR THE TAX LOSS CAUSED BY HOMESTEAD EXEMPTIONS; 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 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) After the 1999 supplemental roll, the amount of tax loss to be reimbursed because of exemptions provided for in this article shall be as follows:

(a) For the 2000 supplemental roll, Fifty-five Dollars ($55.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Ten Dollars ($110.00) per applicant qualifying for homestead exemption under this article.

(b) For the 2001 supplemental roll, Sixty Dollars ($60.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Twenty Dollars ($120.00) per applicant qualifying for homestead exemption under this article.

(c) For the 2002 supplemental roll, Sixty-five Dollars ($65.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Thirty Dollars ($130.00) per applicant qualifying for homestead exemption under this article.

(d) For the 2003 supplemental roll, Seventy Dollars ($70.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Forty Dollars ($140.00) per applicant qualifying for homestead exemption under this article.

(e) For the 2004 supplemental roll, 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.

(f) For the 2005 supplemental roll, Eighty Dollars ($80.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Sixty Dollars ($160.00) per applicant qualifying for homestead exemption under this article.

(g) For the 2006 supplemental roll, Eighty-five Dollars ($85.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Seventy Dollars ($170.00) per applicant qualifying for homestead exemption under this article.

(h) For the 2007 supplemental roll, Ninety Dollars ($90.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Eighty Dollars ($180.00) per applicant qualifying for homestead exemption under this article.

(h) For the 2008 supplemental roll, Ninety-five Dollars ($95.00) each for county taxes exempted and school taxes exempted for a total of One Hundred Ninety Dollars ($190.00) per applicant qualifying for homestead exemption under this article.

(i) For the 2009 supplemental roll, and for each succeeding year's roll thereafter, One Hundred Dollars ($100.00) each for county taxes exempted and school taxes exempted for a total of Two Hundred Dollars ($200.00) per applicant qualifying for homestead exemption under this article.

(3) 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.

(4) * * * 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 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. The one hundred six percent (106%) limitation on reimbursement of tax losses provided for in this section shall not apply to increases in the amount of the reimbursement provided for in Section 27-33-77(2).

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