Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 31 - AD VALOREM TAXES-GENERAL EXEMPTIONS (§§ 27-31-1 — 27-31-NEW) › NEW FACTORIES AND ENTERPRISES (§§ 27-31-101 — 27-31-NEW) › Section 27-31-105 - Additions to or expansions of facilities or properties or replacement of equipment used in connection with certain enterprises

(1)
Any person, firm or corporation who owns or operates a manufacturing or other enterprise of public utility as enumerated in Section
27-31-101
and who makes additions to or expansions of the facilities or properties or replaces equipment used in connection with or necessary to the operation of such enterprise may be granted an exemption from ad valorem taxation, except state ad valorem taxation, ad valorem taxes for school district purposes, and ad valorem taxes on the products thereof or on automobiles and trucks belonging thereto and operating on and over the highways of the State of Mississippi, upon each addition to or expansion of the facility or property or replacement of equipment, used in connection with, or necessary to, the operation of an enterprise enumerated in Section
27-31-101
, whether or not such property is owned, leased, subleased, licensed or otherwise obtained by such enterprise, irrespective of the taxpayer to which any such leased property is assessed for ad valorem tax purposes, within the discretion of the county board of supervisors and municipal authorities; however, such governing authorities shall not exempt ad valorem taxes for school district purposes on such additions or expansions of the facility or property, or replacement of equipment. If an exemption is granted pursuant to this subsection (1) with respect to any leasehold interest under a lease, sublease or license of tangible property used in connection with, or necessary to, the operation of an enterprise enumerated in Section
27-31-101
, the corresponding ownership interest of the owner, lessor and sublessor of such tangible property shall similarly and automatically be exempt without any action being required to be taken by such owner, lessor or sublessor. In order to obtain the exemptions authorized by this section, a person, firm or corporation shall follow the same procedure prescribed for obtaining an exemption on a new enterprise, except as otherwise provided in this section. For any additions, expansions or replacements with reference to any particular new enterprise, which have been completed during any calendar year, only one (1) request must be made for the exemptions sought for the additions, expansions or replacements. The time of the exemption shall commence from the date of completion of the additions, expansions or replacements, and shall extend for a period not to exceed ten (10) years thereafter; however, boards of supervisors and municipal authorities, in lieu of granting the exemption for one (1) period of ten (10) years, may grant the exemption in consecutive periods of five (5) years each, but the total of such consecutive periods shall not exceed ten (10) years. The initial request for an exemption must be made in writing by June 1 of the year immediately following the year in which the additions, expansions or replacements are completed. If the initial request for the exemption is not timely made, the board of supervisors or municipal authorities may grant a subsequent request for the exemption and, in such case, the exemption shall begin on the anniversary date of completion of the additions, expansions or replacements in the year in which the request is made and may be for a period of time extending not more than ten (10) years from the date of completion of the additions, expansions or replacements. Any subsequent request for the exemption must be made in writing by June 1 of the year in which it is granted. Any exemption from ad valorem taxes granted under this subsection (1) before March 28, 2019, and consistent herewith, is hereby ratified, approved and confirmed.
(2)
For expansions of facilities or properties, or replacement of equipment, county boards of supervisors and municipal authorities may grant a fee in lieu of taxes in the same manner, to the same extent, and with the same qualifying threshold as provided for projects under Section
27-31-104
, Mississippi Code of 1972. Any fee-in-lieu of taxes granted under this subsection (2) before March 28, 2019, and consistent herewith, is hereby ratified, approved and confirmed.
Codes, 1942, § 9706.5; Laws, 1952, ch. 420, § 5; Laws, 1960, ch. 468; Laws, 1961, 2nd Ex. ch. 5, § 1; Laws, 1986, ch. 407, § 2; Laws, 1989, ch. 524, § 17; Laws, 1992, ch. 518, § 3; Laws, 1994, ch. 571, § 2; Laws, 1995, ch. 544, § 1; Laws, 2000, ch. 591, § 2; Laws, 2006, ch. 459, § 1, eff. 3/23/2006.
Amended by Laws, 2019, ch. 422, HB 1668,§ 3, eff. 3/28/2019.