Mississippi Legislature
2005 Regular Session

House Bill 1294

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Bill Text

History of Actions

Amendments

Background

Title

Description: Economic Redevelopment Act; create and provide incentives for development of certain property.

Bill Text: [Introduced] [Committee Substitute] [Passed House] [Sent to Governor]

History of Actions:

1 01/17 (H) Referred To Ways and Means
2 01/25 (H) Title Suff Do Pass Comm Sub
3 02/02 (H) Committee Substitute Adopted
4 02/02 (H) Passed
5 02/02 (H) Motion to Reconsider Entered
6 02/10 (H) Motion to Reconsider Tabled
7 02/11 (H) Transmitted To Senate
8 02/15 (S) Referred To Finance
9 03/01 (S) Title Suff Do Pass As Amended
10 03/07 (S) Amended
11 03/07 (S) Passed As Amended
12 03/09 (S) Returned For Concurrence
13 03/16 (H) Concurred in Amend From Senate
14 03/23 (S) Enrolled Bill Signed
15 03/23 (H) Enrolled Bill Signed
16 03/29 Approved by Governor

Amendments:

Adopted [S] Committee Amendment No 1
Adopted [S] Amendment No 1 to Committee Amendment No 1
   
[S] Amendment Report for House Bill No. 1294

Background Information:

Effective dateJanuary 1, 2005
DispositionLaw
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredThree/Fifths
Chapter number468

House Committee:

Senate Committee:

Principal Author: Flaggs

Code Sections: A 027-0007-0045, A 027-0013-0005, A 027-0013-0007, A 027-0065-0075

Title: AN ACT TO CREATE THE "ECONOMIC REDEVELOPMENT ACT" TO ASSIST CERTAIN COUNTIES AND MUNICIPALITIES IN ENCOURAGING ECONOMIC REDEVELOPMENT OF CERTAIN CONTAMINATED SITES; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO DESIGNATE CERTAIN COUNTIES AND MUNICIPALITIES AS REDEVELOPMENT COUNTIES AND MUNICIPALITIES; TO PROVIDE THAT CERTAIN COUNTIES AND MUNICIPALITIES MAY APPLY TO THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR DESIGNATION AS REDEVELOPMENT COUNTIES AND MUNICIPALITIES; TO PROVIDE AN INCENTIVE FOR PERSONS, CORPORATIONS OR OTHER ENTITIES THAT INCUR INDEBTEDNESS TO UNDERTAKE REDEVELOPMENT PROJECTS; TO CREATE THE REDEVELOPMENT INCENTIVE FUND; TO AUTHORIZE INCENTIVE PAYMENTS FROM SUCH FUND TO PERSONS, CORPORATIONS OR OTHER ENTITIES THAT INCUR INDEBTEDNESS TO UNDERTAKE REDEVELOPMENT PROJECTS; TO LIMIT THE TOTAL AGGREGATE AMOUNT OF INCENTIVE PAYMENTS THAT MAY BE PAID TO A DEVELOPER; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO DEVELOP A PROGRAM TO ADMINISTER THE INCENTIVE PAYMENT AUTHORIZED BY THIS ACT; TO PROVIDE THAT SALES AND USE TAXES IMPOSED ON SALES AND CERTAIN PURCHASES OF AN APPROVED BUSINESS ENTERPRISE WITHIN A REDEVELOPMENT PROJECT AREA, INCOME TAX IMPOSED ON INCOME EARNED BY AN APPROVED BUSINESS ENTERPRISE WITHIN A REDEVELOPMENT PROJECT AREA AND FRANCHISE TAX IMPOSED ON THE VALUE OF CAPITAL USED, INVESTED OR EMPLOYED BY AN APPROVED BUSINESS ENTERPRISE WITHIN A REDEVELOPMENT PROJECT AREA, SHALL BE DEPOSITED INTO THE REDEVELOPMENT PROJECT INCENTIVE FUND; TO AMEND SECTIONS 27-7-45, 27-13-5, 27-13-7 AND 27-65-75, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/29/05 at 18:14.

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2005/html/History/HB/HB1294.htm