The proposed constitutional amendment, if passed by voters, would prohibit the government from taking private land to give to another person or business.
Secretary of State Delbert Hosemann said Friday that the lawsuit will be heard July 25 in Hinds County Circuit Court.
Hosemann said the lawsuit was filed by Leland Speed, a Jackson businessman who is executive director of the Mississippi Development Authority.
"By state law, I am required, and I intend, to place the initiative on the ballot, unless otherwise ordered to do so by the Supreme Court,” Hosemann said.
The Mississippi Farm Bureau Federation sponsored the initiative that gathered nearly 120,000 signatures to get the issue on the November ballot.
Opponents say the proposal could hurt economic development since eminent domain is often used to acquire property for projects.