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 2986
Ad valorem tax; require millage rate reduction for purposes of calculating proposed increase where assessed value increases.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO AMEND SECTIONS 21-33-45, 27-39-305, 27-39-307, 27-39-317, 27-39-320 AND 27-39-321, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IF, BECAUSE OF AN INCREASE IN THE ASSESSED VALUATION OF A MUNICIPALITY OR COUNTY, THE AD VALOREM TAX MILLAGE RATE FOR THE EXISTING FISCAL YEAR WILL GENERATE FUNDS FOR THE NEXT FISCAL YEAR IN EXCESS OF THAT GENERATED FOR THE EXISTING FISCAL YEAR, THEN FOR PURPOSES OF DETERMINING WHETHER THE RATE OR LEVY PROPOSED FOR THE NEXT FISCAL YEAR IS AN INCREASE FROM THE PREVIOUS YEAR, THE GOVERNING AUTHORITIES OF THE MUNICIPALITY OR BOARD OF SUPERVISORS OF THE COUNTY SHALL REDUCE THE AD VALOREM TAX MILLAGE RATE AS IT APPLIES TO ALL PROPERTY EXCEPT NEWLY CONSTRUCTED PROPERTIES OR EXISTING PROPERTIES ADDED TO THE TAX ROLLS BY THE NECESSARY AMOUNT TO PROVIDE THAT THE REVENUE GENERATED FOR THE NEXT FISCAL YEAR IS THE SAME AS THAT GENERATED FOR THE EXISTING FISCAL YEAR AND USE SUCH REDUCED MILLAGE RATE AS THE BASIS TO DETERMINE WHETHER THE RATE OR LEVY PROPOSED FOR THE NEXT FISCAL YEAR IS AN INCREASE FROM THE PREVIOUS YEAR AND TO DETERMINE WHETHER ANY PROPOSED INCREASE IN REVENUE FOR THE NEXT FISCAL YEAR COMPLIES WITH CERTAIN LIMITATIONS ON AD VALOREM TAX REVENUE INCREASES; 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.