Mississippi HB 207: Motor vehicle ad valorem tax credit; bring forward sections of law relating to.

Bill Text

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To: Ways and Means
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Scott

HOUSE BILL NO. 207

AN ACT TO BRING FORWARD SECTIONS 27-51-101, 27-51-103, 1
27-51-105 AND 27-51-107, MISSISSIPPI CODE OF 1972, WHICH ARE 2
SECTIONS OF LAW AUTHORIZING A MOTOR VEHICLE AD VALOREM TAX CREDIT, 3
FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO BRING FORWARD SECTION 4
27-65-75, MISSISSIPPI CODE OF 1972, WHICH PROVIDES FOR THE 5
DISTRIBUTION OF STATE SALES TAX REVENUE, FOR THE PURPOSES OF 6
POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES. 7
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 8
SECTION 1. Section 27-51-101, Mississippi Code of 1972, is 9
brought forward as follows: 10
27-51-101. As used in Sections 27-51-101 through 27-51-107, 11
unless the context requires otherwise: 12
(a) "Private carrier of passengers" shall have the 13
meaning ascribed to such term in Section 27-19-3, but shall not be 14
construed to include motorcycles. 15
(b) "Light carrier of property" means any motor vehicle 16
with a gross weight, as defined in Section 27-19-3, of ten 17
thousand (10,000) pounds or less that is designed and constructed 18
for the primary purpose of transporting property on the roads and 19
highways. 20

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(c) "Local taxing district" means any county, 21
municipality, school district or other local entity that levies an 22
ad valorem tax or for which an ad valorem tax is levied, to fund 23
all or a portion of its budget. 24
(d) "State fiscal year" means the period beginning on 25
July 1 and ending on June 30 of the following year. 26
(e) "Commission," "State Tax Commission" or 27
"department" means the Department of Revenue. 28
SECTION 2. Section 27-51-103, Mississippi Code of 1972, is 29
brought forward as follows: 30
27-51-103. (1) From and after January 1, 1995, through June 31
30, 1995, a taxpayer shall be allowed as a credit towards the tax 32
liability imposed by Chapter 51, Title 27, Mississippi Code of 33
1972, on the amount of ad valorem taxes due during the taxable 34
year on any private carrier of passengers and light carrier of 35
property owned by him, an amount equal to five percent (5%) of the 36
assessed value of the motor vehicle. 37
(2) From and after July 1, 1995, a taxpayer shall be allowed 38
as a credit against motor vehicle ad valorem taxes due under 39
Chapter 51, Title 27, Mississippi Code of 1972, on any private 40
carrier of passengers and light carrier of property owned by him, 41
an amount as provided for in subsection (3) of this section. 42
(3) (a) Except as otherwise provided in paragraph (b) of 43
this subsection, from and after July 1, 1995, the amount of the 44
credit that a taxpayer shall be allowed against motor vehicle ad 45

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valorem taxes due under Chapter 51, Title 27, Mississippi Code of 46
1972, shall be determined by the State Tax Commission for each 47
fiscal year. The amount of the credit shall be promulgated by the 48
commission on or before May 1 prior to each state fiscal year 49
beginning with the state fiscal year beginning on July 1, 1995. 50
In developing the credit, the commission shall establish credit 51
amounts that provide for an equal percentage of dollar credit 52
amounts for private carriers of passengers and light carriers of 53
property in proportion to their assessed value, based on the 54
projected amount of funds in the Motor Vehicle Ad Valorem Tax 55
Reduction Fund that will be available for distribution in such 56
state fiscal year. The commission may calculate the credit in 57
such a manner so as to have surplus funds available in the Motor 58
Vehicle Ad Valorem Tax Reduction Fund for cash-flow needs and 59
monthly shortfalls that might be incurred as a result of 60
unexpected revenue fluctuations; however, in the calculation of 61
the credit in order to make such surplus funds available, the 62
commission shall attempt to create a balance in the Motor Vehicle 63
Ad Valorem Tax Reduction Fund that does not exceed, at the end of 64
any state fiscal year, five percent (5%) of the projected amount 65
of funds that will be available in the Motor Vehicle Ad Valorem 66
Tax Reduction Fund for distribution during such state fiscal year. 67
(b) From and after July 1, 2009, through June 30, 2010, 68
a taxpayer shall be allowed as a credit towards the tax liability 69
imposed by Chapter 51, Title 27, Mississippi Code of 1972, on the 70

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amount of ad valorem taxes due during the taxable year on any 71
private carrier of passengers and light carrier of property owned 72
by him, an amount equal to four and twenty-five one-hundredths 73
percent (4.25%) of the assessed value of the motor vehicle. 74
(4) Tax credits provided for by this section may be used 75
against mo