MISSISSIPPI LEGISLATURE

2014 Regular Session

To: Constitution

By: Representatives Evans (70th), Baria, Moak, Watson

House Concurrent Resolution 28

     A CONCURRENT RESOLUTION PROPOSING AMENDMENTS TO SECTIONS 32, 181, 182 AND 199, MISSISSIPPI CONSTITUTION OF 1890, TO PROVIDE THAT A CORPORATION SHALL NOT HAVE ANY RIGHT OR PRIVILEGE GRANTED TO THE PEOPLE OR TO AN INDIVIDUAL PERSON; TO PROVIDE THAT A CORPORATION SHALL NOT RECEIVE A PROPERTY OR INCOME TAX CREDIT, DEDUCTION OR EXEMPTION THAT IS NOT ALLOWED TO AN INDIVIDUAL PERSON; AND FOR RELATED PURPOSES.

     BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI, That the following amendments to the Mississippi Constitution of 1890 are proposed to the qualified electors of the state:

I.

     Amend Section 32, Mississippi Constitution of 1890, to read as follows:

     "Section 32.  The enumeration of rights in this Constitution shall not be construed to deny and impair others retained by, and inherent in, the people.  The enumeration of rights in this Constitution for the benefit of the people shall not be construed to give a corporation any right or privilege granted to the people or to an individual person."

II.

     Amend Section 181, Mississippi Constitution of 1890, to read as follows:

     "Section 181.  (1)  The property and income of all private corporations for pecuniary gain shall be taxed in the same way and to the same extent as the property and income of individuals  * * *but.  No such private corporation shall receive a credit, deduction or exemption pertaining to income or property taxation that is not allowed or provided to an individual person.

(2)  Except as otherwise provided in subsection (1) of this section, the Legislature may provide for the taxation of banks and banking capital, by taxing the shares according to the value thereof (augmented by the accumulations, surplus, and unpaid dividends), exclusive of real estate, which shall be taxed as other real estate. 

(3)  Exemptions from taxation to which corporations are legally entitled at the adoption of the amendments to this Constitution contained in House Concurrent Resolution No. ____ shall not remain in full force and effect * * * for the time of such exemption as expressed in their respective charters, or by general laws, unless * * *sooner repealed by the Legislature ratifies the exemptions by general law.  And, domestic insurance companies shall not be required to pay a greater tax in the aggregate than is required to be paid by foreign insurance companies doing business in this state, except to the extent of the excess of their ad valorem tax over the privilege tax imposed upon such foreign companies * * *.; and the legislature may impose privilege taxes on building and loan associations in lieu of all other taxes except on their real estate."

III.

     Amend Section 182, Mississippi Constitution of 1890, to read as follows:

     "Section 182.  (1)  The power to tax corporations and their property shall never be surrendered or abridged by any contract or grant to which the state or any political subdivision thereof may be a party * * *.

(2) If the Legislature * * *may grant has granted an exemption from taxation in the encouragement of manufactures and other new enterprises of public utility extending for a period of not exceeding ten (10) years on each such enterprise * * * hereafterconstructed, * * * and may grantor exemptions not exceeding ten (10) years on each addition thereto or expansion thereof, * * *and may grant or exemptions not exceeding ten (10) years on future additions to or expansions of existing manufactures and other enterprises of public utility * * *, before the adoption of the amendments to this Constitution contained in House Concurrent Resolution No._______, then such an exemption shall not remain in full force and effect unless the Legislature by general law ratifies such exemption for the remainder of the applicable term of the exemption.  If any such exemption is so ratified, then the time of each exemption shall have commenced from the date of completion of the new enterprise, and from the date of completion of each addition or expansion, for which an exemption is granted. * * *When the Legislature grants such exemptions for a period of ten (10) years or less, it shall be done by general laws, which shall distinctly enumerate the classes of manufactures and other new enterprises of public utility, entitled to such exemptions, and shall prescribe the mode and manner in which the right to such exemptions shall be determined."

IV.

     Amend Section 199, Mississippi Constitution of 1890, to read as follows:

     "Section 199.  The term "corporation" used in this article shall include all associations and all joint-stock companies for pecuniary gain having privileges not possessed by individuals or partnerships; however, the term shall not be construed to give a corporation any right or privilege granted to an individual person under Article 3 of the Mississippi Constitution of 1890, which is entitled 'Bill of Rights,' or to allow a corporation to claim any property or income tax credit, deduction or exemption that an individual person is not allowed to claim."

     BE IT FURTHER RESOLVED, That this proposed amendment shall be submitted by the Secretary of State to the qualified electors at an election to be held on the first Tuesday after the first Monday of November 2014, as provided by Section 273 of the Constitution and by general law.

     BE IT FURTHER RESOLVED, That the explanation of this proposed amendment for the ballot shall read as follows:  "This proposed constitutional amendment provides that a corporation shall not have any right or privilege granted to the people or an individual person, and a corporation shall not receive a property or income tax credit, deduction or exemption that is not allowed to an individual person."