HB 1942

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.