HB 1004

Mississippi House Bill 1004 revises how payments made by nuclear generating plants in lieu of property taxes are distributed among counties, municipalities, and school districts. The bill changes the distribution formula beginning in fiscal year 2026, shifting from a percentage-based system to a fixed payment of $15 million annually to the county where the plant is located, with amounts exceeding $16 million going to the state's General Fund. The remaining funds are allocated with 10% going to the largest municipality in the county, up to $5.5 million available for general county purposes, and any surplus directed to public school districts for capital improvements based on student enrollment. This legislation modernizes a decades-old tax payment structure that has governed nuclear facility contributions to local and state budgets since 1987.