SB 2995 Mississippi Senate · 2025 Regular Session

Ad valorem taxes; authorize local governments to grant exemptions for raw materials and work in progress inventory.

SB 2995 would allow Mississippi counties and municipalities to exempt raw materials and work-in-progress inventory from local property taxes (excluding school taxes) for qualifying manufacturers and distributors. The exemption could last up to 10 years per business, requiring written requests to local governing bodies, and would ratify existing exemptions granted before July 1, 2025. It specifically excludes finished products, school taxes, and vehicles from the exemption. The bill died in committee on March 18, 2025, and is not currently law.

Issues: ✗ Budget & Taxes

Bill status died 3 of 5 stages cleared

Introduction

Feb 2025

Committee Review

Mar 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Feb 28, 2025 Last action Mar 18, 2025

Maddy AI version diff · 1 comparison

What changed between versions

As Introduced → Current version · 5 edits

MODERATE

This bill updates Mississippi's tax exemption laws for businesses, clarifying when exemptions apply and adding specific categories of eligible enterprises. It also changes the effective date of the legislation from July 1, 2025 to June 30, 2025, which appears to be an error that needs correction.

Scope change

The bill expands the list of eligible businesses for tax exemptions to include specific categories like data centers, telecommunications enterprises, and controlled environment agriculture, while maintaining the 10-year maximum exemption period.

TIMELINE

The effective date was changed from July 1, 2025 to June 30, 2025, which creates a contradiction since the law cannot take effect before it is repealed.

ELIGIBILITY

Added specific enterprise categories including data centers, telecommunications, and controlled environment agriculture to the list of businesses eligible for tax exemptions.

DEFINITION

Clarified that telecommunications enterprises includes various digital media and data services but excludes traditional broadcast radio and television stations.

REQUIREMENT

Updated ratification dates for previous exemptions from March 28, 2019 to July 1, 2025, extending the window for validating prior tax exemptions.

TECHNICAL

Removed formatting inconsistencies and page markers from the original legislative document.

Floor votes · Senate Feb 26, 2025

How they voted

44–0

Passed · 7 other

Total votes 51

Feb 26, 2025

D Democratic16

10 Yea 6

62% Yea

R Republican35

34 Yea 1

97% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 3, 2025

Committee

Referred To Ways and Means;Accountability, Efficiency, Transparency

lower

Feb 28, 2025

Introduced

Transmitted To House

upper

Feb 26, 2025

Upper · Passed

Passed As Amended

upper

Feb 26, 2025

Upper · Passed

Amended

upper

Feb 20, 2025

Upper · Passed

Title Suff Do Pass

upper

Feb 12, 2025

Committee

Referred To Finance

upper

1 primary · 0 co-sponsors