House Bill 828

AN ACT TO AMEND SECTION 19-9-151, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF NUCLEAR GENERATING IN-LIEU TAX PAYMENTS THAT ARE PAID INTO THE GENERAL FUND OF THE STATE THAT ARE REQUIRED TO BE DISTRIBUTED TO THE COUNTY IN WHICH THE NUCLEAR GENERATING PLAN IS LOCATED; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 19-9-151, Mississippi Code of 1972, is amended as follows:

19-9-151. The in-lieu payments made to the * * *~~State Tax Commission~~ Department of Revenue pursuant to Section 27-35-309(3)(b), excluding payments made in excess of Sixteen Million Dollars ($16,000,000.00) which are required to be paid into the General Fund of the state, shall be distributed by the * * *~~State Tax Commission~~ Department of Revenue as follows:

(a) For fiscal year 1987, fifty percent (50%) of such payment shall be paid to the situs county wherein such nuclear generating plant is located;

(b) For fiscal year 1988, forty-five percent (45%) of such payment shall be paid to the situs county wherein such nuclear generating plant is located;

(c) For fiscal year 1989, forty percent (40%) of such payment shall be paid to the situs county wherein such nuclear generating plant is located;

(d) For fiscal year 1990, thirty-five (35%) of such payment shall be paid to the situs county wherein such nuclear generating plant is located;

(e) For fiscal year 1991 * * *~~and thereafter~~ through fiscal year 2013, thirty percent (30%) of such payment shall be paid to the situs county wherein such nuclear generating plant is located * * *.;

(f) For fiscal year 2014 and thereafter, sixty percent (60%) of such payment shall be paid to the situs county wherein such nuclear generating plant is located.

SECTION 2. This act shall take effect and be in force from and after July 1, 2013.