All municipalities may grant like exemptions from municipal ad valorem taxation for a period not exceeding ten (10) years to all manufacturers and other new enterprises mentioned in Section 27-31-101 hereof, and gasworks, waterworks, cooperative electrification associations, excepting railroads and additions or expansions or replacements mentioned in Section 27-31-105 hereof; however, municipal authorities, in lieu of granting the exemption for one (1) period of ten (10) years, may grant the exemption in consecutive periods of less than ten (10) years, but the total of such consecutive periods shall not exceed ten (10) years.No new exemption from ad valorem taxes levied for school district purposes shall be granted pursuant to this section from and after July 1, 1990.Codes, 1930, § 3114; 1942, § 9708; Laws, 1930, ch. 67; Laws, 1952, ch. 420, § 7; Laws, 1990, ch. 502, § 14; Laws, 1994, ch. 571, § 4, eff. 7/1/1994.
Mississippi Legal Code