SB 2846

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.