l9n/ Mississippi

2015 Regular Session

House Bill 1592

Taxes; exempt public property or facilities financed by New Market Tax Credit transactions from certain taxes.

Did not become law. It stopped in the Senate's Finance Committee on March 17, 2015. The 2015 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 57-105-1, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM ALL TAXATION IN THE STATE OF MISSISSIPPI EXCEPT THE CONTRACTORS TAX ALL MORTGAGES OR DEEDS OF TRUST EXECUTED AS SECURITY FOR PUBLIC PROPERTY OR FACILITIES BY PUBLIC BENEFIT CORPORATIONS, ALL LEASE, LOAN OR PURCHASE AGREEMENTS MADE BY PUBLIC BENEFIT CORPORATIONS FOR PUBLIC PROPERTY OR FACILITIES, AND ALL PURCHASES REQUIRED TO ESTABLISH THE PUBLIC PROPERTY OR FACILITIES FINANCED BY THE PROCEEDS FROM NEW MARKETS TAX CREDIT TRANSACTIONS OR RELATED TRANSACTIONS; TO EXEMPT FROM ALL TAXATION IN THE STATE OF MISSISSIPPI ALL PUBLIC PROPERTY OR FACILITIES FINANCED BY THE PROCEEDS FROM NEW MARKETS TAX CREDIT TRANSACTIONS OR RELATED TRANSACTIONS AND THE REVENUE DERIVED FROM ANY LEASE THEREOF FROM ALL TAXATION IN THE STATE OF MISSISSIPPI, EXCEPT THE CONTRACTOR'S TAX AND INCOME TAX; TO PROVIDE THAT NO AD VALOREM TAX EXEMPTION AUTHORIZED UNDER THIS ACT SHALL BE GRANTED UNLESS APPROVED BY THE APPROPRIATE LOCAL TAXING AUTHORITY; TO PROVIDE THAT THERE SHALL BE NO EXEMPTION FROM AD VALOREM TAXES LEVIED FOR SCHOOL DISTRICT PURPOSES; TO PROVIDE THAT AD VALOREM TAX EXEMPTIONS AUTHORIZED UNDER THIS ACT SHALL NOT EXCEED 10 YEARS FROM THE DATE OF THE COMPLETION OF THE PUBLIC PROPERTY OR FACILITY; TO AMEND SECTION 27-65-105, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; 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 House of Representatives

Its course

February 18 to March 17, 2015, 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 action6 actions on 5 days

In the House of RepresentativesFeb 18 to Feb 246 days

Ways and MeansFeb 18 to Feb 246 days

In the SenateFeb 24 to Mar 17 · stopped21 days

FinanceMar 4 to Mar 17 · stopped13 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.

In the House of Representatives Feb 18 – Feb 24

  1. Feb 18Referred to the House committee on Ways and Means
  2. Feb 24Reported from committee in the House: title sufficient, do pass
  3. Passed the House

In the Senate Feb 25 – Mar 17

  1. Feb 25Sent to the Senate
  2. Mar 4Referred to the Senate committee on Finance
  3. Mar 17Died in committee in the Senate
All 6 actions, as published
  1. Feb 18Referred To Ways and MeansHouse of Representatives
  2. Feb 24Title Suff Do PassHouse of Representatives
  3. Feb 24PassedHouse of Representatives
  4. Feb 25Transmitted To SenateHouse of Representatives
  5. Mar 4Referred To FinanceSenate
  6. Mar 17Died In CommitteeSenate