Last in the Senate began by adopting the conference report for House Bill 531, advancing a $524.1 million tax cut, the largest in the state’s history, to the Governor’s desk.
Under the bill as amended, the state’s four percent bracket would be eliminated in the upcoming fiscal year at a cost of about $185 million. Between Fiscal Year 2024 and 2026, the current top rate of five percent would be reduced to a four percent flat rate. This will cost $339.1 million, for a total elimination of $524.1 million in recurring dollars from the state budget. When fully phased in, Mississippi’s income tax rate will be one of the lowest in the nation among the 43 states which have an income tax.
Further, in 2016 the Legislature passed a $415 million tax cut bill phasing out the 3 percent tax bracket by 2022. The same legislation phased out the franchise tax on businesses over a ten-year period ending in 2028. Revenue for the last fiscal year (FY 2021) and current fiscal year (FY 2022) are above projections, though experts have advised revenues are likely buoyed by the significant federal recovery funds flowing into the state. Budget analysts have also advised that despite some uncertainty in the economy, the tax cut approved is sustainable.
The Senate adopted House Bill 1769 that protects Mississippians private property rights. Under the legislation, Article 3, Section 17A of the Mississippi Constitution will be codified in state statute. The constitutional provision prohibits the state or local governments from taking private property through eminent domain and conveying to private entities for a period of 10 years. Exemptions are provided for levee facilities, road, bridge, ports, airports, common carriers, drainage facilities and utilities. It has been sent to the Governor. This bill was spearhead by myself and Senator Dennis Debar.
Passage of Joint Resolution 202, created a new legislative redistricting map to be effective starting in the 2023 election cycle. Redistricting is required by law every 10 years after U.S. Census numbers are released. The Mississippi Senate’s map was last redrawn in 2012. Under this plan, Senate District 31 stands mostly unchanged with the addition of Leesburg and the loss of Obadiah and Center Hill.
Senate Bill 2430 creates a revolving no-interest loan program for public school buildings. Emergency and critical infrastructure needs will receive priority. Through the program, public schools may receive up to $1 million in one fiscal year for maintenance on existing buildings, excluding athletics, or construction of new pre-K or career and technical facilities. Loans will have a 10-year maximum payback period.
I led honors for the Lake High School “Lady Hornets” basketball team and Coach Maurice Bowie on Wednesday, March 30, 2022, with presentation of Senate Concurrent Resolution 573, for winning the 2022 Mississippi High School Activities Association, (MHSAA), 2A State Championship. The Lady Hornets clinched the championship March 4, 2022, when they beat Belmont 46-44. It was the first championship in 21 years
