Mississippi Legislature

2000 Regular Session

Senate Bill 2438

Instructions Bill Status Menu




Bill Text

History of Actions

Background

Title

Description: Mississippi's Create Jobs Program Act; enact.

Bill Text: [Introduced]

History of Actions:

101/25/00(S)Referred To Finance;Appropriations
203/07/00(S)Died In Committee

Background Information:

Effective dateJuly 1, 2000
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committees:

Principal Author: Smith

Title: AN ACT TO CREATE THE "MISSISSIPPI CREATE JOBS PROGRAM ACT; TO AUTHORIZE THE STATE TAX COMMISSION TO MAKE INCENTIVE PAYMENTS FOR ESTABLISHMENTS ENGAGING IN CERTAIN BASIC INDUSTRIES; TO CREATE THE INCENTIVE APPROVAL COMMITTEE WHOSE DUTY SHALL BE TO DETERMINE WHETHER AN ESTABLISHMENT IS A BASIC INDUSTRY AS DEFINED IN THIS ACT; TO PROVIDE THAT QUALIFIED ESTABLISHMENTS MAY RECEIVE QUARTERLY INCENTIVE PAYMENTS FOR A TEN-YEAR PERIOD IN AN AMOUNT EQUAL TO THE TAX BENEFITS THAT ACCRUE TO THE STATE AS A RESULT OF NEW DIRECT JOBS MINUS THE ESTIMATED DIRECT STATE COSTS COMPUTED AS A PERCENTAGE OF GROSS PAYROLL OF THE ESTABLISHMENT, MULTIPLIED BY THE ACTUAL GROSS PAYROLL OF NEW DIRECT JOBS FOR A CALENDAR QUARTER AS VERIFIED BY THE MISSISSIPPI EMPLOYMENT SECURITY COMMISSION; TO PROVIDE THAT APPLICATION FOR INCENTIVE PAYMENTS SHALL BE MADE TO THE MISSISSIPPI DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT; TO PROVIDE THE CRITERIA FOR ELIGIBILITY FOR INCENTIVE PAYMENTS; TO CREATE THE MISSISSIPPI CREATE JOBS PROGRAM INCENTIVE PAYMENT FUND FROM WHICH INCENTIVE PAYMENTS SHALL BE MADE PURSUANT TO THIS ACT; TO PROVIDE THAT SUCH FUND SHALL BE FUNDED BY LEGISLATIVE APPROPRIATION; TO PROVIDE THAT THE LIABILITY OF THE STATE TO MAKE INCENTIVE PAYMENTS UNDER THIS ACT SHALL BE LIMITED TO THE BALANCE CONTAINED IN SUCH FUND; TO PROVIDE FOR CRIMINAL PENALTIES FOR WILLFULLY MAKING A FALSE OR FRAUDULENT APPLICATION, CLAIM, REPORT, RETURN, STATEMENT, INVOICE OR OTHER INSTRUMENT OR FOR WILLFULLY MAKING A FALSE OR FRAUDULENT STATEMENT IN CONNECTION WITH THIS ACT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/07/00 at 17:38.



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2000/pdf/History/SB/SB2438.htm