Senate Bill 2604

AN ACT TO PROVIDE THAT AN AMOUNT EQUAL TO A 18-1/2% OF THE USE TAX REVENUE COLLECTED UNDER THE MISSISSIPPI USE TAX LAW FROM VOLUNTARY TAXPAYERS SHALL BE DISTRIBUTED TO MUNICIPALITIES; AND FOR RELATED PURPOSES.

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

SECTION 1. (1) (a) The Department of Revenue shall allocate and distribute an amount equal to eighteen and one-half percent (18-1/2%) of the total amount of use tax revenue collected from voluntary taxpayers during the preceding fiscal year under this article to municipalities in this state in the manner provided in this section. The Department of Revenue shall distribute the funds among municipalities based on the proportion that the amount of sales tax revenue distributed to a municipality during the preceding fiscal year under Section 27-65-75(1)(a) bears to the total amount of sales tax revenue distributed to all municipalities during the preceding fiscal year under Section 27-65-75(1)(a). The department shall make the distributions on or before January 31, 2019, and each succeeding January 31 thereafter. The distributions shall be made from use tax collections.

SECTION 2. Section 1 of this act shall be codified as a new section in Article 1, Chapter 67, Title 27, Mississippi Code of 1972.

SECTION 3. This act shall take effect and be in force from and after July 1, 2018.