MISSISSIPPI LEGISLATURE

2020 Regular Session

To: Ways and Means

By: Representative Lamar

House Bill 862

(As Passed the House)

AN ACT TO AMEND SECTION 27-35-305, MISSISSIPPI CODE OF 1972, TO REVISE THE PENALTY FOR FAILURE OF A RAILROAD OR OTHER PUBLIC SERVICE CORPORATION TO RENDER SCHEDULES OF PROPERTY WITH THE DEPARTMENT OF REVENUE FOR AD VALOREM TAX ASSESSMENT PURPOSES AS REQUIRED BY LAW; AND FOR RELATED PURPOSES.

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

     SECTION 1.  Section 27-35-305, Mississippi Code of 1972, is amended as follows:

     27-35-305.  If any company, corporation, firm or person, who is required by law to render schedules of its, their or his property to the * * *State Tax Commission Department of Revenue, as provided by Section 27-35-303, Mississippi Code of 1972, for the purposes of assessment for taxation, shall fail, refuse or neglect to render the schedules, as required, such company, corporation, firm or person shall pay a penalty * * *up to in the amount of ten percent (10%) of the assessment as computed by the * * *tax commission Department of Revenue, and in case of such failure, refusal or neglect, the * * *commission department shall make out such schedules from the best information obtainable.

     SECTION 2.  This act shall take effect and be in force from and after July 1, 2020.

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