Bill Text | History of Actions | Background | Title |
Description: Economic development; authorize incentives for certain projects.
Bill Text: [Introduced] [Passed Senate] [Sent to Governor]
| 1 | 04/27 (S) Referred To Finance | |
| 2 | 04/27 (S) Title Suff Do Pass | |
| 3 | 04/27 (S) Passed {Vote} | |
| 4 | 04/27 (S) Immediate Release | |
| 5 | 04/27 (S) Transmitted To House | |
| 6 | 04/27 (H) Referred To Ways and Means | |
| 7 | 04/27 (H) Title Suff Do Pass | |
| 8 | 04/27 (H) Passed {Vote} | |
| 9 | 04/27 (H) Transmitted To Senate | |
| 10 | 04/27 (S) Enrolled Bill Signed | |
| 11 | 04/27 (H) Enrolled Bill Signed | |
| 12 | 05/11 Approved by Governor |
| Effective date | Passage | |
| Disposition | Law | |
| Deadline | None | |
| Revenue | No | |
| Vote type required | Three/Fifths | |
| Chapter number | 1 |
Senate Committee:
House Committee:
Principal Author: Brown
Additional Authors: Robertson, Albritton, Browning, Butler, Carmichael, Chaney, Chassaniol, Cuevas, Davis, Dearing, Fillingane, Frazier, Gordon, Harden, Hewes, Jackson (15th), Jackson (32nd), Jordan, King, Lee (35th), Lee (47th), Moffatt, Morgan, Pickering, Posey, Ross, Simmons, Thames, Thomas, White, Wilemon, Williamson, Little
Code Sections: A 057-0075-0005, A 057-0075-0009, A 057-0075-0011, A 057-0075-0015, A 057-0075-0033, A 011-0027-0081, A 011-0027-0085, A 057-0031-0005, A 057-0031-0009, A 027-0065-0101, A 027-0067-0007, A 027-0065-0075
Title: AN ACT TO AMEND SECTION 57-75-5, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "PROJECT" UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT TO INCLUDE CERTAIN MAJOR POWERTRAIN COMPONENT MANUFACTURING AND ASSEMBLY PLANTS WITH AN INITIAL CAPITAL INVESTMENT FROM PRIVATE SOURCES OF NOT LESS THAN $300,000,000.00 WHICH WILL CREATE AT LEAST 500 NEW FULL-TIME JOBS MEETING CRITERIA ESTABLISHED BY THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY; TO AMEND SECTION 57-75-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CONTRACTS BY THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY OR A PUBLIC AGENCY FOR SITE PREPARATION, UTILITIES, REAL ESTATE IMPROVEMENTS, WASTEWATER OR PUBLIC WORKS FOR SUCH A PROJECT SHALL BE EXEMPT FROM THE PROVISIONS OF SECTION 31-7-13 AND TO PROVIDE AN ALTERNATE PROCEDURE FOR THE AWARD OF SUCH CONTRACTS; TO AMEND SECTION 57-75-11, MISSISSIPPI CODE OF 1972, TO GRANT THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY CERTAIN ADDITIONAL POWERS AND DUTIES WITH REGARD TO SUCH PROJECTS; TO AMEND SECTION 57-75-15, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR SUCH PROJECTS AND TO SPECIFY THE PURPOSES FOR WHICH THE PROCEEDS OF SUCH BONDS MAY BE UTILIZED; TO AMEND SECTION 57-75-33, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE BOARD OF SUPERVISORS OF A COUNTY OR THE GOVERNING AUTHORITIES OF A MUNICIPALITY MAY EACH ENTER INTO AN AGREEMENT WITH AN ENTERPRISE OPERATING SUCH A PROJECT PROVIDING THAT THE COUNTY OR MUNICIPALITY WILL NOT LEVY ANY TAXES, FEES OR ASSESSMENTS UPON THE ENTERPRISE OTHER THAN TAXES, FEES OR ASSESSMENTS THAT ARE GENERALLY LEVIED UPON ALL TAXPAYERS AND THE BOARD OF SUPERVISORS OR THE GOVERNING AUTHORITIES ALSO MAY EACH ENTER INTO A FEE-IN-LIEU AGREEMENT; TO AMEND SECTION 11-27-81, MISSISSIPPI CODE OF 1972, TO AUTHORIZE COUNTIES TO EXERCISE THE RIGHT OF IMMEDIATE POSSESSION WITH REGARD TO CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 11-27-85, MISSISSIPPI CODE OF 1972, TO AUTHORIZE COUNTIES TO EXERCISE THE RIGHT OF IMMEDIATE TITLE AND POSSESSION WITH REGARD TO CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 57-31-5, MISSISSIPPI CODE OF 1972, TO REMOVE THE PROVISION THAT REQUIRES CERTAIN INDUSTRIAL DEVELOPMENT AUTHORITIES TO TRANSFER TITLE TO PROPERTY BY LEASE-PURCHASE AGREEMENT WITH CERTAIN STIPULATIONS; TO AMEND SECTION 57-31-9, MISSISSIPPI CODE OF 1972, TO AUTHORIZE CERTAIN INDUSTRIAL DEVELOPMENT AUTHORITIES TO ISSUE PROMISSORY NOTES IN AN AMOUNT NOT TO EXCEED $15,000,000.00 FOR CERTAIN PROJECTS DESCRIBED IN THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT UPON FINDING THAT THE NOTE WILL BE PAID BY BONDS ISSUED BY THE BOARD OF SUPERVISORS; TO PROVIDE AN INCOME TAX CREDIT IN THE AMOUNT OF $5,000.00 FOR EACH NET NEW FULL-TIME EMPLOYEE JOB CREATED BY A QUALIFIED BUSINESS OR INDUSTRY THAT IS A PROJECT UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT WITH AN INITIAL CAPITAL INVESTMENT OF NOT LESS THAN $300,000,000.00 AND CREATES AT LEAST 500 JOBS; TO PROVIDE THAT THE BUSINESS OR INDUSTRY MAY UTILIZE THE CREDIT FOR A PERIOD OF 20 YEARS FROM THE DATE THE CREDIT COMMENCES; TO PROVIDE THAT THE ENTERPRISE MAY SELECT THE COMMENCEMENT DATE BUT THE COMMENCEMENT DATE MAY NOT BE MORE THAN SIX YEARS FROM THE DATE THE BUSINESS COMMENCES COMMERCIAL PRODUCTION; TO PROVIDE THAT EXCESS CREDITS MAY BE CARRIED FORWARD; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO PROVIDE AN EXEMPTION FROM SALES TAXATION FOR SALES TO CERTAIN MANUFACTURERS OF POWERTRAIN COMPONENTS OF MACHINERY AND CERTAIN SPECIAL TOOLS OR REPAIR PARTS THEREFOR, FUEL AND SUPPLIES USED DIRECTLY IN THE MANUFACTURE OF SUCH MOTOR VEHICLE PARTS; TO REVISE THE EXEMPTION FROM SALES TAXATION FOR THE SALE OF MATERIALS, MACHINERY AND EQUIPMENT USED IN THE CONSTRUCTION OF A BUILDING, OR AN ADDITION OR IMPROVEMENT THEREON TO AN ENTERPRISE OPERATING CERTAIN PROJECTS DEFINED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 27-67-7, MISSISSIPPI CODE OF 1972, TO REVISE THE EXEMPTION FROM USE TAXATION FOR CERTAIN PERSONAL PROPERTY USED BY A TAXPAYER OTHER THAN THE MANUFACTURER, WHEN THE MANUFACTURER STILL HOLDS TITLE TO THE ITEMS AND THE ITEMS ARE PURCHASED AS PART OF CERTAIN PROJECTS DEVELOPED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTIONS 17 AND 18 OF SENATE BILL NO. 3215, 2007 REGULAR SESSION, TO REVISE THE ENTITIES THAT MAY BE ELIGIBLE FOR INCENTIVE PAYMENTS TO QUALIFIED BUSINESSES THAT ARE BASED ON THE AMOUNT OF WAGES AND TAXABLE BENEFITS OR THE AMOUNT OF STATE INCOME TAX WITHHELD FOR QUALIFIED JOBS CREATED; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO CLARIFY PROVISIONS REGARDING CERTAIN DIVERSIONS OF STATE SALES TAX REVENUE; AND FOR RELATED PURPOSES.
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20071E/pdf/History/SB/SB2001.htm