State Codes and Statutes
Statutes > Mississippi > Title-27 > 31 > 27-31-43§ 27-31-43. Property constituting part of project or facility authorized by Mississippi Wayport Authority Act.
All real and personal property belonging to the United States constituting a part of the project or a facility related to the project as defined in the Mississippi Wayport Authority Act shall be exempt from ad valorem taxation; however, the Authority may negotiate and grant a fee in lieu of ad valorem taxes. The minimum sum allowable as a fee in lieu shall not be less than one-third (1/3) of the ad valorem levy, including ad valorem taxes for school district purposes, and the sum allowed shall be apportioned between the county or municipality, as appropriate, and the school districts in such amounts as may be determined by the county board of supervisors or municipal governing authority, as the case may be, however, from the sum allowed the apportionment to school districts shall not be less than the school districts' pro rata share based upon the proportion that the millage imposed for the school districts by the appropriate levying authority bears to the millage imposed by such levying authority for all other county or municipal purposes.
Sources: Laws, 1989, ch. 535, § 9, eff from and after passage (approved April 17, 1989).
