Public lands; extend date of repeal on section prescribing who may purchase., the official text

MISSISSIPPI LEGISLATURE

2026 Regular Session

To: Public Property

By: Senator(s) Barrett

Senate Bill 2341

(As Sent to Governor)

AN ACT TO AMEND SECTION 29-1-75, MISSISSIPPI CODE OF 1972,
TO EXTEND THE DATE OF REPEAL ON THE RESTRICTIONS IMPOSED ON THE PURCHASE OF
PUBLIC LANDS BY CERTAIN CORPORATIONS AND NONRESIDENT ALIENS; AND FOR RELATED
PURPOSES.

BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1.  Section
29-1-75, Mississippi Code of 1972, is amended as follows:

29-1-75.  (1)  Except as
otherwise provided in this section, neither a corporation nor a nonresident
alien, nor any association of persons composed in whole or in part of
nonresident aliens, shall directly or indirectly purchase or become the owner
of any of the public lands; and every patent issued in contravention hereof
shall be void.

(2)  (a)  A banking
corporation owning such tax-forfeited lands or holding a mortgage or deed of
trust thereon at the time of the sale to the state, and whose mortgage or deed
of trust is still in force and effect, may purchase such lands, regardless of
acreage, owned by it as aforesaid or on which it held a mortgage or deed of
trust.  In the event of a purchase by such corporation as a mortgagee, such
lands shall be held for the benefit of the mortgagor subject to all the terms
and conditions of the mortgage or deed of trust held by the purchasing banking
corporation and, upon payment of the debt secured by such mortgage or deed of
trust, together with interest and incidents, such banking corporation shall in
that event reconvey such lands to the original mortgagor, his or her heirs or
assigns.

(b)  Any other nonbanking
corporation may purchase lands sold or forfeited to the state for delinquent
taxes under any section of Chapter 1, Title 29, specifically relating to the
sale of such tax-forfeited lands by the Secretary of State.  A nonbanking
corporation purchasing land sold or forfeited to the state shall be subject to
the acreage limitations of Section 29-1-73.

(c)  Except as provided
in Sections 89-27-5 and 89-27-7, nonresident aliens may acquire and hold not to
exceed three hundred twenty (320) acres of public lands in this state for the
purpose of industrial development thereon.  In addition, any nonresident alien
may acquire and hold not to exceed five (5) acres of public lands for
residential purposes.  If any land acquired by a nonresident alien for the purpose
of industrial development ceases to be used for industrial development, it
shall escheat to the public body that sold such land to the nonresident alien.

(d)  Land that is
classified as an industrial or residential zone, but is otherwise used as forest
or agricultural land in the performance of forest or agricultural activities,
shall serve as a prima facie case as to the purpose of the land being devoted
to forestry and/or agriculture and shall make the land and the nonresident
alien subject to the provisions of Sections 89-27-5 and 89-27-7.

(3)  This section shall
stand repealed on July 1, * * * 2026 2029.

SECTION 2.  This act
shall take effect and be in force from and after July 1, 2026.