Mississippi legislation · 2026 Regular Session
Mississippi SB2824: Ad valorem tax; extend deadlines for 50% exemption and lower fee-in-lieu minimum for certain projects and qualified businesses.
Status: Signed into law, March 25, 2026
AN ACT TO AMEND SECTION 27-31-46.1, MISSISSIPPI CODE OF 1972, TO EXTEND THE INITIAL CONSTRUCTION DEADLINE FOR PURPOSES OF ELIGIBILITY OF CERTAIN ENERGY PROJECTS FOR CERTAIN AD VALOREM TAX EXEMPTIONS OF UP TO 50% OF THE TOTAL ASSESSED VALUE OF THE PROJECTS; TO EXTEND THE DEADLINE BY WHICH COUNTIES AND MUNICIPALITIES MAY AUTHORIZE SUCH EXEMPTIONS; TO AMEND SECTION 27-31-104, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE BY WHICH A FEE-IN-LIEU AGREEMENT MAY BE ENTERED WITH CERTAIN QUALIFIED BUSINESSES FOR PURPOSES OF THE MINIMUM FEE-IN-LIEU AMOUNT OF 1/10 OF THE TOTAL OF ALL AD VALOREM TAXES OTHERWISE PAYABLE AS ANNUALLY DETERMINED; TO EXTEND THE DATE OF THE REVERTER ON THE STATUTE; AND FOR RELATED PURPOSES.
What the bill says
An act to amend section 27-31-46.1, mississippi code of 1972, to extend the initial construction deadline for purposes of eligibility of certain energy projects for certain ad valorem tax exemptions of up to 50% of the total assessed value of the projects; to extend the deadline by which counties and municipalities may authorize such exemptions…
From the enrolled text, March 19, 2026:
AN ACT TO AMEND SECTION 27-31-46.1, MISSISSIPPI CODE OF 1972, TO EXTEND THE INITIAL CONSTRUCTION DEADLINE FOR PURPOSES OF ELIGIBILITY OF CERTAIN ENERGY PROJECTS FOR CERTAIN AD VALOREM TAX EXEMPTIONS OF UP TO 50% OF THE TOTAL ASSESSED VALUE OF THE PROJECTS; TO EXTEND THE DEADLINE BY WHICH COUNTIES AND MUNICIPALITIES MAY AUTHORIZE SUCH EXEMPTIONS; TO AMEND SECTION 27-31-104, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE BY WHICH A FEE-IN-LIEU AGREEMENT MAY BE ENTERED WITH CERTAIN QUALIFIED BUSINESSES FOR PURPOSES OF THE MINIMUM FEE-IN-LIEU AMOUNT OF 1/10 OF THE TOTAL OF ALL AD VALOREM TAXES OTHERWISE PAYABLE AS ANNUALLY DETERMINED; TO EXTEND THE DATE OF THE REVERTER ON THE STATUTE; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 27-31-46.1, Mississippi Code of 1972, is amended as follows: 27-31-46.1. A project that is eligible for an ad valorem tax exemption under Section 27-31-46, and for which initial construction begins on or after July 1, 2022, but not later than December 31, * * * 2031, may be allowed an exemption from ad valorem taxation as provided in this section. For such a project, one-half (1/2) of the true value of property of the project that is subject to a fee-in-lieu of ad valorem taxes pursuant to an agreement under Section …
Sponsors
- Harkins, Josh (R, 20) · primary sponsor
Latest actions
- : Approved by Governor
- : Enrolled Bill Signed
- : Returned For Enrolling
- : Passed
- : Title Suff Do Pass
- : Referred To Ways and Means
- : Transmitted To House
- : Passed
- : Committee Substitute Adopted
- : Title Suff Do Pass Comm Sub
Votes
- Passed (March 17, 2026): 118 yea, 1 nay, passed
- Passed (February 25, 2026): 46 yea, 3 nay, passed
Subjects: Ad valorem tax
Common questions
- What is SB2824?
- SB2824 is a bill in the Mississippi Legislature (2026 Regular Session): Ad valorem tax; extend deadlines for 50% exemption and lower fee-in-lieu minimum for certain projects and qualified businesses.
- What does SB2824 do?
- In its own words: An act to amend section 27-31-46.1, mississippi code of 1972, to extend the initial construction deadline for purposes of eligibility of certain energy projects for certain ad valorem tax exemptions of up to 50% of the total assessed value of the projects; to extend the deadline by which counties and municipalities may authorize such exemptions…
- What is the status of SB2824?
- Signed into law as of March 25, 2026. Latest action: Approved by Governor (March 25, 2026).
- Who sponsored SB2824?
- Harkins, Josh (R, 20).
- Where is the official record for SB2824?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2824.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.