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MississippiSB 28462026 Regular SessionSenateWALLET

Tax Increment Financing Act; authorize optional taxpayer agreements to provide additional security for obligations under.

Sponsored By: Chris Johnson (Republican)

Signed by Governor

Ways and MeansFinance

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Bill Overview

Analyzed Economic Effects

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

Strong liens and collections on missed payments

Beginning July 1, 2026, if an agreement secures payments with a lien, the lien starts when the agreement is signed and recorded. It ranks like a property tax lien, behind earlier tax liens and ahead of later mortgages or judgments. Recording in the county clerk's office gives public notice and makes the lien enforceable. Unpaid amounts are delinquent on the date in the agreement and face the same interest, penalties, fees, and foreclosure process as unpaid property taxes. After all obligations are paid, the city must record a release to clear the lien.

Cities can use taxpayer payment agreements

Beginning July 1, 2026, cities may sign voluntary taxpayer agreements with a property owner or developer in a project area. The deal can guarantee or add payments to support bonds and other financing, including city-issued conduit bonds paid only from pledged revenues. The city can assign payment and enforcement rights under the agreement to a trustee or bondholder. These agreements are contracts, not taxes or fee-in-lieu deals, and they do not pledge state or city credit. Each agreement must end within 30 years.

Broader tax increment projects and county use

Beginning July 1, 2026, the tax increment law defines taxpayer agreements and broadens what counts as a redevelopment project. Plans can cover buying, building, installing, and equipping public or private improvements, and can include joint city-county revenue pledges. Counties can also use these tools. This lets more projects use taxpayer agreements, but can also expose more owners to payment duties or liens.

Sponsors & Cosponsors

Sponsor

  • Chris Johnson

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 172 • No: 0

House vote • 3/5/2026

Passed

Yes: 120 • No: 0

Senate vote • 2/5/2026

Passed

Yes: 52 • No: 0

Actions Timeline

  1. Approved by Governor

    3/16/2026legislature

  2. Enrolled Bill Signed

    3/10/2026House

  3. Enrolled Bill Signed

    3/10/2026Senate

  4. Returned For Enrolling

    3/6/2026House

  5. Passed

    3/5/2026House

  6. Title Suff Do Pass

    3/3/2026House

  7. Referred To Ways and Means

    2/6/2026House

  8. Transmitted To House

    2/6/2026Senate

  9. Immediate Release

    2/5/2026Senate

  10. Passed

    2/5/2026Senate

  11. Committee Substitute Adopted

    2/5/2026Senate

  12. Title Suff Do Pass Comm Sub

    2/2/2026Senate

  13. Referred To Finance

    1/19/2026Senate

Bill Text

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