HB 1523
Farm equipment grant program; create.
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Bill overview
An act to provide that the department of finance and administration shall establish a program to make grants to farmers to assist with the purchase of new farm tractors and parts and labor used to maintain and/or repair such tractors, and new farm implements taxed at the rate of 1.5% under section 27-65-17; To provide an application process for the program; To create the "farm equipment grant fund" as a special fund IN the state treasury; To provide that monies IN the fund shall be used by the department of finance and administration, upon appropriation by the legislature, to make grants under this act; To amend section 27-65-75, mississippi code of 1972, to provide that a portion of the state sales tax revenue collected from the retail sales of farm tractors and parts and labor used to maintain and/or repair such tractors, and farm implements taxed at the rate of 1.5% under section 27-65-17, shall be deposited into the farm equipment grant fund created IN this act; And for related purposes.
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