HB 1942: Tax Increment Financing Act; authorize conduit bond issuance to finance redevelopment projects.

Summary

An Act To Create A New Code Section To Be Codified As Section 21-45-23, Mississippi Code Of 1972, To Authorize Municipalities To Issue Bonds, Notes Or Other Obligations As A Conduit Issuer To Finance The Costs Of A Redevelopment Project Under The Tax Increment Financing Act, And To Secure Such Financing By Taxpayer Agreements; To Authorize Municipalities To Enter Into Taxpayer Agreements In Connection With Tax Increment Financing Of Redevelopment Projects For The Purpose Of Securing Such Financing; To Provide For Optional Lien Security For Taxpayer Agreements; To Provide That Taxpayer Agreements Do Not Constitute Taxes, Public Debt Or Pledges Of Governmental Credit; To Amend Section 21-45-3, Mississippi Code Of 1972, To Define The Term "taxpayer Agreement" And To Revise The Definition Of The Term "redevelopment Project" Under The Tax Increment Financing Act; To Bring Forward Sections 21-45-5, 21-45-7, 21-45-9, 21-45-11, 21-45-13, 21-45-15, 21-45-17, 21-45-19 And 21-45-21, Mississippi Code Of 1972, Which Are Sections Of The Tax Increment Financing Act, For The Purpose Of Possible Amendment; And For Related Purposes.

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Mar 17, 2026

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