MississippiHB 40592026 Regular SessionHouseWALLET

City of Fulton; extend repeal date on restaurant tax and authorize issuance of bonds for tourism and parks and recreation.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 1 costs, 0 mixed.

Tax-free interest on Fulton bonds

Mississippi does not tax bonds issued under this law or the interest they pay. The tax break applies to holders of qualifying bonds. The act is repealed from and after July 1, 2036.

Fulton can borrow for tourism and parks

Fulton can issue bonds or take on other debt for tourism, parks, and recreation. The total debt cannot exceed what proceeds from the authorized tax can repay. These bonds do not count toward the city’s debt limits. The authority expires July 1, 2036.

Fulton diners may pay restaurant tax

Fulton can charge up to 3% tax on restaurant sales to support tourism, parks, and recreation. The city must call an election, and at least 60% of qualified electors who vote must approve the tax. Restaurants collect the tax from customers when practical. The authority expires July 1, 2036.

Sponsors & Cosponsors

Sponsor

Donnie Bell
Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 167 • No: 3

Senate vote • 3/26/2026

Passed

Yes: 50 • No: 2

House vote • 3/19/2026