MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Finance

By: Senator(s) Hewes

Senate Bill 2284

AN ACT TO AMEND SECTION 57-10-449, MISSISSIPPI CODE OF 1972, TO EXTEND THE REPEAL DATE ON SECTIONS 57-10-401 THROUGH 57-10-445 AND SECTION 27-7-22.3, MISSISSIPPI CODE OF 1972, WHICH PROVIDE FOR THE ISSUANCE OF BONDS BY THE MISSISSIPPI BUSINESS FINANCE CORPORATION IN ORDER TO FINANCE ECONOMIC DEVELOPMENT PROJECTS TO INDUCE THE LOCATION OR EXPANSION OF MANUFACTURING FACILITIES WITHIN THIS STATE, AND PROVIDE FOR A CREDIT AGAINST STATE INCOME TAXES FOR CERTAIN COMPANIES IN THE AMOUNT OF DEBT SERVICE PAID BY SUCH COMPANIES UNDER FINANCING AGREEMENTS ENTERED INTO WITH THE MISSISSIPPI BUSINESS FINANCE CORPORATION, AND PROVIDE FOR A CREDIT AGAINST STATE INCOME TAXES FOR EMPLOYEES OF CERTAIN COMPANIES WHO PAY JOB DEVELOPMENT ASSESSMENT FEES IN THE AMOUNT OF SUCH FEES; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

 

SECTION 1. Section 57-10-449, Mississippi Code of 1972, is amended as follows:

57-10-449. Sections 57-10-401 through 57-10-445 and 27-7-22.3 shall be repealed from and after October 1, 1998.

SECTION 2. This act shall take effect and be in force from and after July 1, 1997.