MISSISSIPPI LEGISLATURE
2014 Regular Session
To: Public Property
By: Representative Weathersby
AN ACT TO AMEND SECTION 29-1-73, MISSISSIPPI CODE OF 1972, TO LIMIT THE AMOUNT OF PUBLIC LANDS ANY ONE PERSON MAY PURCHASE OR CONTRACT TO PURCHASE IN ONE YEAR TO 160 ACRES; TO AMEND SECTION 29-1-75, MISSISSIPPI CODE OF 1972, TO PERMIT NONBANKING CORPORATIONS TO PURCHASE TAX-FORFEITED PUBLIC LANDS NOT TO EXCEED 160 ACRES; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 29-1-73, Mississippi Code of 1972, is amended as follows:
29-1-73. One person may
purchase or contract to purchase as much as * * * one hundred
sixty (160) acres of * * * thepublic lands in one (1) year, and no more (except Lowry
Island lands, which are not to be limited as to amount purchased); and all lands
acquired, directly or indirectly, by any person in contravention of this
chapter shall escheat to the state, and all monies and fees paid therefor shall
be forfeited.
The restrictions herein
contained limiting to * * * one hundred sixty (160) acres the quantity of
land which may be purchased by any person in one (1) year shall not apply in
any manner to the original owner or mortgagee of state forfeited tax lands at
the time title matured in the state, nor to his heirs, executors, or
administrators; nor shall such restriction apply to the board of drainage
commissioners of any drainage district in the purchase of lands situated in
such drainage district, as provided in Section 51-33-45, nor to the United
States government in the purchase of lands under the provisions of Section 3-5-11,
or under the provisions of other laws authorizing the sale of such lands to the
United States government.
SECTION 2. Section 29-1-75, Mississippi Code of 1972, is amended as follows:
29-1-75. (1) Except as otherwise provided in this section, neither a corporation nor a nonresident alien, nor any association of persons composed in whole or in part of nonresident aliens, shall directly or indirectly purchase or become the owner of any of the public lands; and every patent issued in contravention hereof shall be void.
(2) This section shall not apply to:
(a) A banking
corporation owning * * *
public tax-forfeited lands or holding a mortgage or deed of trust
thereon at the time of the sale to the state, and whose mortgage or deed of
trust is still in force and effect, may purchase such lands, regardless of
acreage, owned by it as aforesaid or on which it held a mortgage or deed of
trust. In event of a purchase by such corporation as a mortgagee, such lands
shall be held for the benefit of the mortgagor subject to all the terms and
conditions of the mortgage or deed of trust held by the purchasing banking
corporation and, upon payment of the debt secured by such mortgage or deed of
trust, together with interest and incidents, such banking corporation shall in
that event recovery such lands to the original mortgagor, his heirs or assigns.
(b) Any other nonbanking corporation may purchase lands sold or forfeited to the state for delinquent taxes under any provision of Chapter 1, Title 29, Mississippi Code of 1972, specifically relating to the sale of such tax-forfeited lands by the Secretary of State. Any nonbanking corporation purchasing land sold or forfeited to the state shall be subject to the acreage limitations imposed under Section 29-1-73.
(c) Nonresident aliens may acquire and hold not to exceed three hundred twenty (320) acres of public lands in this state for the purpose of industrial development thereon. In addition, any nonresident alien may acquire and hold not to exceed five (5) acres of public lands for residential purposes. If any land acquired by a nonresident alien for the purpose of industrial development ceases to be used for industrial development, it shall escheat to the public body that sold such land to the nonresident alien.
SECTION 3. This act shall take effect and be in force from and after July 1, 2014.