SB2846

Mississippi SB2846 updates the Tax Increment Financing Act to allow optional taxpayer agreements for added security on obligations.

Mississippi SB2846 revises the Tax Increment Financing Act to authorize optional taxpayer agreements providing additional security for obligations under the act. The act allows municipalities to issue bonds for redevelopment projects, with proceeds secured by tax increments. The act defines redevelopment projects and outlines the process for approving tax increment financing plans. It also specifies the terms and conditions for bond issuance, including security agreements and the creation of special funds.