Mississippi HB1635 revises fee-in-lieu of ad valorem tax agreements for certain projects.
Mississippi HB1635 amends the Mississippi Code to revise the distribution of fees-in-lieu of ad valorem taxes for certain projects. The bill specifies that for projects with a capital investment exceeding $1 billion, a portion of the fee-in-lieu sum will be deposited into the Mississippi Strategic Development Fund. The fund, created by the bill, will be used for strategic infrastructure investments, economic development, and quality of life improvements.
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