Did not become law. It stopped in the Senate's Finance Committee on February 3, 2009. The 2009 session has ended.
2009 Regular Session
Senate Bill 2874
Inventory tax; provide a rebate to businesses that pay ad valorem taxes on inventory.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO CREATE THE INVENTORY TAX REBATE ACT; TO PROVIDE THAT ANY MANUFACTURER, DISTRIBUTOR, WHOLESALE OR RETAIL MERCHANT WHO PAY AD VALOREM TAXES IMPOSED ON COMMODITIES, PRODUCTS, GOODS, WARES AND MERCHANDISE HELD FOR RESALE, SHALL BE ENTITLED TO A REBATE IN AN AMOUNT EQUAL TO THE AMOUNT OF AD VALOREM TAXES SO PAID; TO CREATE IN THE STATE TREASURY A SPECIAL FUND TO BE KNOWN AS THE "INVENTORY TAX REBATE FUND"; TO REQUIRE THE LEGISLATURE TO APPROPRIATE A CERTAIN AMOUNT OF MONEY INTO THE FUND; TO PROVIDE THAT MONEY IN THE FUND SHALL BE UTILIZED BY THE STATE TAX COMMISSION TO MAKE THE PAYMENTS REQUIRED BY THIS ACT; TO PROVIDE THE MANNER OF APPLYING FOR THE REBATE; TO PROVIDE THAT THE STATE TAX COMMISSION SHALL VERIFY CLAIMS AND MAKE THE PAYMENTS TO ELIGIBLE BUSINESSES; TO CREATE A STUDY COMMITTEE TO REVIEW CURRENT LAW AND PROPOSED LEGISLATION ON AD VALOREM TAXATION OF BUSINESS INVENTORIES IN THIS STATE AND TO MAKE RECOMMENDATIONS TO THE LEGISLATURE WHICH IDENTIFY LONG-TERM STRATEGIES TO ELIMINATE AD VALOREM TAXATION OF BUSINESS INVENTORIES WHILE ENSURING THE LOCAL GOVERNMENTS DO NOT EXPERIENCE FISCAL HARM AS A RESULT OF THE ELIMINATION OF THE TAX; TO AMEND SECTION 27-7-22.5, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT BUSINESSES UTILIZING A CERTAIN INCOME TAX CREDIT SHALL NOT BE ELIGIBLE FOR THE REBATE; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the Senate
Sponsor
Its course
January 19 to February 3, 2009, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the SenateJan 19 to Feb 3 · stopped15 days
FinanceJan 19 to Feb 3 · stopped15 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.