Extends deadlines for 50% ad valorem tax exemption for certain energy projects and lowers minimum fee-in-lieu for qualified businesses.
Mississippi SB2824 extends the initial construction deadline for certain energy projects to be eligible for up to a 50% ad valorem tax exemption until December 31, 2036. It also extends the deadline for counties and municipalities to authorize such exemptions. The bill lowers the minimum fee-in-lieu amount for certain qualified businesses from one-third to one-tenth of the total ad valorem taxes payable. It allows for fee-in-lieu agreements for projects with a minimum capital investment of $60 million or $100 million, depending on the source of the capital.
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