Income tax; exclude payment for property taken by eminent domain from gross income.

Mississippi's HB 211 amends the state income tax law to exclude compensation received for property taken through eminent domain or condemnation from taxable "gross income." This applies specifically to property owners who purchased the property at least five years before it was taken by the government. The change means eligible property owners will not pay state income tax on the compensation received for their seized property. The bill directly affects Mississippi residents who sell property to the government after holding it for a minimum of five years.