State Codes and Statutes
Statutes > Mississippi > Title-27 > 29 > 27-29-35§ 27-29-35. Counties and municipalities required to reduce ad valorem taxes in a certain amount if they receive severance tax revenue from offshore drilling on the Mississippi Gulf Coast.
From and after July 1, 2004, the board of supervisors of a county shall reduce the ad valorem taxes levied by the county in an amount equal to one-half (1/2) of the county's share of the revenue derived from the oil and gas severance tax under Sections 27-25-505 and 27-25-705 as a result of offshore drilling on the Mississippi Gulf Coast. From and after July 1, 2004, the governing authorities of a municipality shall reduce the ad valorem taxes levied by the municipality in an amount equal to one-half (1/2) of the municipality's share of the revenue derived from the oil and gas severance tax under Sections 27-25-505 and 27-25-705 as a result of offshore drilling on the Mississippi Gulf Coast.
Sources: Laws, 2004, ch. 482, § 6, eff from and after July 1, 2004.
