AN ACT TO CREATE NEW SECTION 21-45-23, MISSISSIPPI CODE OF 1972, TO AUTHORIZE MUNICIPALITIES TO ENTER INTO VOLUNTARY TAXPAYER AGREEMENTS IN CONNECTION WITH TAX INCREMENT FINANCING REDEVELOPMENT PROJECTS; TO PROVIDE FOR OPTIONAL LIEN SECURITY FOR SUCH AGREEMENTS; TO AUTHORIZE CONDUIT BOND FINANCING SECURED BY TAXPAYER AGREEMENTS; TO PROVIDE THAT SUCH AGREEMENTS DO NOT CONSTITUTE TAXES, PUBLIC DEBT OR PLEDGES OF GOVERNMENTAL CREDIT; TO AMEND SECTION 21-45-3, MISSISSIPPI CODE OF 1972, TO DEFINE "TAXPAYER AGREEMENT" AND REVISE THE DEFINITION OF "REDEVELOPMENT PROJECT" FOR PURPOSES OF THIS ACT; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 21-45-1, 21-45-3, 21-45-5, 21-45-7, 21-45-9, 21-45-11, 21-45-13, 21-45-15, 21-45-17, 21-45-19, 21-45-21
Committee Substitute: 21-45-3
As Passed by the Senate: 21-45-3
Approved by the Governor: 21-45-3