Mississippi Legislature
2007 Regular Session

Senate Bill 3004

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Bill Text

History of Actions

Amendments

Background

Title

Description: Tourism project sales tax incentive; authorize for certain tourism projects that locate in this state.

Bill Text: [Introduced] [Committee Substitute] [Passed Senate]

History of Actions:

1 01/15 (S) Referred To Finance
2 01/30 (S) Title Suff Do Pass Comm Sub
3 02/08 (S) Committee Substitute Adopted
4 02/08 (S) Passed   {Vote}
5 02/08 (S) Motion to Reconsider Entered
6 02/09 (S) Motion to Reconsider Tabled   {Vote}
7 02/09 (S) Transmitted To House
8 02/12 (H) Referred To Tourism;Ways and Means
9 02/27 (H) Died In Committee

Amendments:

Lost [S] Amendment No 1 (Cmte Sub)   Voice Vote

Background Information:

Effective dateJuly 1, 2007
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredThree/Fifths

Senate Committee:

House Committees:

Principal Author: Robertson

Code Section: A 027-0065-0075

Title: AN ACT TO CREATE AN INCENTIVE FOR PERSONS, CORPORATIONS OR OTHER ENTITIES TO LOCATE CERTAIN TOURISM PROJECTS IN THIS STATE; TO CREATE THE TOURISM PROJECT SALES TAX INCENTIVE FUND; TO AUTHORIZE CERTAIN INCENTIVE PAYMENTS FROM SUCH FUND TO PERSONS, CORPORATIONS OR OTHER ENTITIES THAT MAKE CAPITAL INVESTMENTS IN SUCH TOURISM PROJECTS; TO PROVIDE THAT INCENTIVE PAYMENT SHALL CEASE ON THE OCCURRENCE OF THE EARLIER OF THE DATE THAT AN AGGREGATE AMOUNT OF 30% OF THE APPROVED PROJECT COSTS INCURRED BY THE APPROVED PARTICIPANT FOR THE TOURISM PROJECT HAS BEEN PAID TO THE APPROVED PARTICIPANT OR 10 YEARS AFTER THE DATE THE TOURISM PROJECT OPENS FOR COMMERCIAL OPERATION; TO REQUIRE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO ADMINISTER THE PROGRAM; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT 80% OF THE SALES TAX REVENUE COLLECTED FROM THE OPERATION OF A TOURISM PROJECT UNDER THE PROVISIONS OF THIS ACT SHALL BE DEPOSITED, AFTER CERTAIN DIVERSIONS, INTO THE TOURISM PROJECT SALES TAX INCENTIVE FUND; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 05/08/07 at 16:00.

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2007/pdf/History/SB/SB3004.htm