AN ACT TO AMEND SECTION 27-33-77, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF REIMBURSEMENT OF TAX LOSSES SUSTAINED BY COUNTIES BECAUSE OF HOMESTEAD EXEMPTION; TO AMEND SECTION 27-33-79, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
(j) 2007 supplemental roll and for each year's succeeding roll thereafter -- Fifty Million Dollars ($50,000,000.00).
27-33-79. Notwithstanding the limitation imposed on reimbursement of tax losses in Section 7 of this act, no taxing unit shall be reimbursed more than one hundred six percent (106%), except as otherwise provided in this section, or less than the amount of the reimbursement made to the same taxing unit, for the next preceding year, unless such reimbursement is reduced as a result of a reduction in approved homestead applicants; however, for the 1986 calendar year, no taxing unit shall be reimbursed less than the amount of the reimbursement made to the same taxing unit for the 1985 calendar year. However, the limitation on reimbursement of tax losses imposed in this section shall not apply to the reimbursement of tax losses authorized in Section 27-33-77(2).