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To: Education
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Senator(s) Boyd
SENATE BILL NO. 2497
AN ACT TO BRING FORWARD SECTION 37-57-107, MISSISSIPPI CODE 1
OF 1972, FOR THE PURPOSE OF POSSIBLE AMENDMENT; AND FOR RELATED 2
PURPOSES. 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 4
SECTION 1. Section 37-57-107, Mississippi Code of 1972, is 5
brought forward as follows: 6
37-57-107. (1) Beginning with the tax levy for the 1997 7
fiscal year and for each fiscal year thereafter, the aggregate 8
receipts from taxes levied for school district purposes pursuant 9
to Sections 37-57-105 and 37-57-1 shall not exceed the aggregate 10
receipts from those sources during any one (1) of the immediately 11
preceding three (3) fiscal years, as determined by the school 12
board, plus an increase not to exceed seven percent (7%). For the 13
purpose of this limitation, the term "aggregate receipts" when 14
used in connection with the amount of funds generated in a 15
preceding fiscal year shall not include excess receipts required 16
by law to be deposited into a special account. However, the term 17
"aggregate receipts" includes any receipts required by law to be 18
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paid to a charter school. The additional revenue from the ad 19
valorem tax on any newly constructed properties or any existing 20
properties added to the tax rolls or any properties previously 21
exempt which were not assessed in the next preceding year may be 22
excluded from the seven percent (7%) increase limitation set forth 23
herein. Taxes levied for payment of principal of and interest on 24
general obligation school bonds issued heretofore or hereafter 25
shall be excluded from the seven percent (7%) increase limitation 26
set forth herein. Any additional millage levied to fund any new 27
program mandated by the Legislature shall be excluded from the 28
limitation for the first year of the levy and included within such 29
limitation in any year thereafter. For the purposes of this 30
section, the term "new program" shall include, but shall not be 31
limited to, (a) the Early Childhood Education Program, as provided 32
by Section 37-21-7, and any additional millage levied and the 33
revenue generated therefrom, which is excluded from the limitation 34
for the first year of the levy, to support the mandated Early 35
Childhood Education Program shall be specified on the minutes of 36
the school board and of the governing body making such tax levy; 37
(b) any additional millage levied and the revenue generated 38
therefrom, which shall be excluded from the limitation for the 39
first year of the levy, for the purpose of generating additional 40
local contribution funds required for the total funding formula as 41
required by Sections 37-151-200 through 37-151-215; and (c) any 42
additional millage levied and the revenue generated therefrom 43
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which shall be excluded from the limitation for the first year of 44
the levy, for the purpose of support and maintenance of any 45
agricultural high school which has been transferred to the 46
control, operation and maintenance of the school board by the 47
board of trustees of the community college district under 48
provisions of Section 37-29-272. 49
(2) The seven percent (7%) increase limitation prescribed in 50
this section may be increased an additional amount only when the 51
school board has determined the need for additional revenues and 52
has held an election on the question of raising the limitation 53
prescribed in this section. The limitation may be increased only 54
if three-fifths (3/5) of those voting in the election shall vote 55
for the proposed increase. The resolution, notice and manner of 56
holding the election shall be as prescribed by law for the holding 57
of elections for the issuance of bonds by the respective school 58
boards. Revenues collected for the fiscal year in excess of the 59
seven percent (7%) increase limitation pursuant to an election 60
shall be included in the tax base for the purpose of determining 61
aggregate receipts for which the seven percent (7%) increase 62
limitation applies for subsequent fiscal years. 63
(3) Except as otherwise provided for excess revenues 64
generated pursuant to an election, if revenues collected as the 65
result of the taxes levied for the fiscal year pursuant to this 66
section and Section 37-57-1 exceed the increase limitation, then 67
it shall be the mandatory duty of the school board of the school 68
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district to deposit such excess receipts over and above the 69
increase limitation into a special account and credit it to the 70
fund for which the levy was made. It will be the further duty of 71
such board to hold the funds and invest the same as authorized by 72
law. Such excess funds shall be calculated in the budgets for the 73
school districts for the purpose for which such levies were made, 74
for the succeeding fiscal year. Taxes imposed for the succeeding 75
year shall be reduced by the amount of excess funds available. 76
Under no circumstances shall such excess funds be expended during 77
the fiscal year in which such excess funds are collected. 78
(4) For the purposes of determining ad valorem tax receipts 79
for a preceding fiscal year under this section, the term "fiscal 80
year" means the fiscal year beginning October 1 and ending 81
September 30. 82
(5) Beginning with the 2013-2014 school year, each school 83
district in which a charter school is located shall pay to the 84
charter school an amount for each student enrolled in the charter 85
school equal to the ad valorem taxes levied per pupil for the 86
support of the school district in which the charter school is 87
located. The pro rata ad valorem taxes to be transferred to the 88
charter school must include all levies for the support of the 89
school district under Sections 37-57-1 (local contribution to the 90
total funding formula as required by Sections 37-151-200 through 91
37-151-215) and 37-57-105 (school district operational levy) but 92
may not include any taxes levied for the retirement of school 93
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ST: Receipts from taxes for school purposes;
bring forward code section related to.
district bonded indebtedness or short-term notes or any taxes 94
levied for the support of vocational-technical education programs. 95
Payments made pursuant to this subsection by a school district to 96
a charter school must be made before the expiration of three (3) 97
business days after the funds are distributed to the school 98
district. 99
SECTION 2. This act shall take effect and be in force from 100
and after July 1, 2026. 101