HB 708

This bill repeals Mississippi's current tax exemption for nuclear power plants owned by public utilities, which would make these facilities subject to standard ad valorem (property) taxes instead of the reduced "in-lieu" payments they currently make. The bill brings forward several related sections of state law—covering county tax authority, school funding formulas, and disaster assistance funds—for potential amendment to address the fiscal impacts of eliminating the nuclear plant tax exemption. The main effect would be to increase tax revenue for counties, municipalities, and school districts that host nuclear generating plants, though it may require adjustments to existing tax structures and state funding formulas.