"Mississippi Forest and Agricultural Landowners' Fairness Act"; create.

HB 555, the "Mississippi Forest and Agricultural Landowners' Fairness Act," requires nonresident aliens and federally tax-exempt entities owning forest or agricultural land in Mississippi to pay the same property taxes and income/franchise taxes as regular businesses, ending their previous tax exemptions. It mandates these owners to publicly disclose full ownership details (including tract descriptions and ownership percentages) to the Secretary of State within six months, with future transfers requiring 90-day filings. The bill also changes tax assessments to use fair market value (not reduced value) for land owned by these entities, excluding timber/crop values. The bill died in committee on February 3, 2026, and was never enacted.