Amendment_Report_for

House Amendments to Senate Bill No. 2021

TO THE SECRETARY OF THE SENATE:

THIS IS TO INFORM YOU THAT THE HOUSE HAS ADOPTED THE AMENDMENTS SET OUT BELOW:

AMENDMENT NO. 1

Amend by striking all after the enacting clause and inserting in lieu thereof the following:

SECTION 1. Section 27-51-20, Mississippi Code of 1972, is amended as follows:

27-51-20. (1) Any assessment schedule prepared and adopted by the State Tax Commission pursuant to Section 27-51-19, Mississippi Code of 1972, shall have:

(a) The same depreciation periods and methods of valuation as used in the assessment schedule used for valuation of motor vehicles for the 1993 fiscal year; and

(b) The same assessed value for motor vehicles at the end of such depreciation periods as contained in the assessment schedule used for valuation of motor vehicles during the 1993 fiscal year.

(2) The difference between the assessment of a motor vehicle at true value and the assessment of such motor vehicle under an assessment schedule meeting the criteria established pursuant to subsection (1) of this section, shall be exempt from ad valorem taxation.

(3) Within fourteen (14) days after passage, in determining the true value of a motorcycle or trailer for the purpose of assessing the amount of ad valorem tax due, that portion of the true value that exceeds the true value of the vehicle as determined under methods used by the State Tax Commission for determining true value before September 1, 2005, shall be exempt from ad valorem tax. For the purposes of this subsection (3), the term "trailer" means every vehicle without motive power, designed to carry property or passengers wholly on its structure and which is drawn by a motor vehicle and upon which the owner is required to pay the annual highway privilege tax levied in Section 27-19-17. The term "trailer" shall include horse trailers, agricultural livestock trailers and utility trailers but shall not include semitrailers as defined in Section 27-19-3.

SECTION 2. (1) Any resident of this state who is in active service as a volunteer fire fighter for any municipality, county or fire district in the state may apply for a tax credit against ad valorem taxes due on one (1) motor vehicle owned by such person. The tax credit shall be in the amount of One Hundred Dollars ($100.00) or the amount of ad valorem taxes due on such vehicle, whichever is the lesser amount. To receive the tax credit, such person must make application, under oath, with the county fire coordinator on a form prepared by the State Tax Commission, and present evidence that he or she is actively serving as a volunteer fire fighter and has continuously served in such capacity for at least three (3) consecutive years before making application for the tax credit under this section. The county fire coordinator shall review all such applications and shall certify to the county tax collector each person whom he determines to qualify for the tax credit. The State Fire Marshal shall promulgate rules and regulations to assist county fire coordinators in defining and prescribing those persons who may qualify for the tax credit under this section as active service volunteer fire fighters.

(2) On or before October 1 of each year, the State Tax Commission, from monies made available through appropriations of the Legislature, shall reimburse each county and municipality for their actual loss in ad valorem taxes resulting from the tax credit authorized under subsection (1) of this section. Such reimbursements shall be made in the same manner, as nearly as practicable, as provided by law for the reimbursement of ad valorem taxes lost by counties and municipalities resulting from homestead exemption.

SECTION 3. Section 1 of this act shall take effect and be in force from and after July 1, 2006, and Section 2 of this act shall take effect and be in force from and after October 1, 2006.

AN ACT TO AMEND SECTION 27-51-20, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A CERTAIN PORTION OF THE TRUE VALUE OF A MOTORCYCLE OR TRAILER AS DETERMINED BY THE STATE TAX COMMISSION FOR ASSESSMENT PURPOSES SHALL BE EXEMPT FROM AD VALOREM TAXES; TO AUTHORIZE A VOLUNTEER FIRE FIGHTER IN ACTIVE SERVICE AS A VOLUNTEER FIRE FIGHTER FOR ANY MUNICIPALITY, COUNTY OR FIRE DISTRICT IN THE STATE, UPON APPLICATION FILED WITH THE COUNTY FIRE COORDINATOR, TO RECEIVE A TAX CREDIT AGAINST AD VALOREM TAXES DUE ON ONE MOTOR VEHICLE OWNED BY SUCH PERSON; TO PROVIDE THAT THE STATE FIRE MARSHAL SHALL PROMULGATE RULES AND REGULATIONS TO ASSIST COUNTY FIRE COORDINATORS IN DEFINING AND PRESCRIBING THOSE PERSONS WHO MAY QUALIFY FOR THE TAX CREDIT; TO PROVIDE THAT THE STATE TAX COMMISSION, FROM MONIES MADE AVAILABLE THROUGH APPROPRIATIONS OF THE LEGISLATURE, SHALL REIMBURSE EACH COUNTY AND MUNICIPALITY FOR THEIR ACTUAL LOSS IN AD VALOREM TAXES RESULTING FROM THE TAX CREDIT AUTHORIZED UNDER THIS ACT; AND FOR RELATED PURPOSES.