Mississippi Enacts Metro Jackson Water Authority Act, Includes Tax Related Provisions

The Mississippi Governor signed the Metro Jackson Water Authority Act. The law includes: 1) providing that the authority is exempt from any tax or assessment on authority property or upon the income therefrom; 2) providing that the authority is exempt from recording fees and transfer taxes; and 3) providing that the transfer and income on any bonds issued by the authority are exempt from state or local taxes, except inheritance and gift taxes. The law takes effect upon passage. [H.B. 1677, enacted 04/08/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.