Senate Bill 2530

(As Sent to Governor)

AN ACT TO AMEND SECTION 27-35-703, MISSISSIPPI CODE OF 1972, TO REQUIRE AIRLINE COMPANIES TO ANNUALLY FILE WITH THE STATE TAX COMMISSION A SCHEDULE OF THE AIRCRAFT IT OPERATES IN THIS STATE; TO PRESCRIBE THE PENALTY FOR FAILURE TO FILE SUCH SCHEDULE; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 27-35-703, Mississippi Code of 1972, is amended as follows:

27-35-703. (1) The commission shall annually assess, adjust, equalize and apportion the valuation of all aircraft of each airline company of a type or model operated in this state by such airline company by such type or model. Such aircraft shall be valued by the commission in the same manner as other personal property in the state is valued.

(2) Each airline company shall file with the commission, on or before the first Monday in April of each year, a complete schedule of all aircraft of a type or model operated in this state by such company. Such schedule shall be made under oath on forms prescribed and furnished by the commission. If any airline company shall fail, refuse or neglect to file the required schedules, such company may be penalized in the manner provided for in Section 27-35-305.

SECTION 2. This act shall take effect and be in force from and after its passage.