MISSISSIPPI LEGISLATURE

2000 Regular Session

To: Ways and Means

By: Representative Denny

AN ACT TO PROVIDE AN INCOME TAX CREDIT FOR AN INDIVIDUAL TAXPAYER WHO PAYS HOME SECURITY EXPENSES FOR HIS PRIMARY RESIDENCE; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) For any individual taxpayer who pays home security expenses for his primary residence, a credit against the taxes imposed by this chapter shall be allowed in the amount provided in subsection (2) of this section. For the purposes of this section, "home security expenses" means any expenses incurred in providing or enhancing the security of the taxpayer's primary residence. Such expenses include, but shall not be limited to, (a) the cost of installing and maintaining a home electronic or computerized alarm system, and/or (b) the cost of belonging to a homeowners' association which has as one (1) of its goals the enhancement of the security and safety of the neighborhood, or which has hired a professional security or law enforcement organization or business to deter the presence of crime and to police the neighborhood comprising the homeowners' association.

(2) Any individual taxpayer shall be allowed a credit against the taxes imposed by this chapter in the amount equal to the actual home security expenses incurred for each taxable year, not to exceed Two Thousand Dollars ($2,000.00) per taxable year.

SECTION 2. Section 1 of this act shall be codified as a separate Code section in Article 1, Chapter 7, Title 27, Mississippi Code of 1972.

SECTION 3. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the income tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the income tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.

SECTION 4. This act shall take effect and be in force from and after January 1, 2000.