Bill Text | History of Actions | Background | Title |
Description: Mississippi Quality Jobs Progam Act; create.
Bill Text: [Introduced]
| 1 | 02/21/00 | (S) | Referred To Economic Dev, Tourism and Parks;Finance | |
| 2 | 03/07/00 | (S) | Died In Committee |
| Effective date | July 1, 2000 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committees:
Principal Author: Ross
Additional Authors: Michel, Johnson (19th), White (29th), Kirby, Horhn, Harden
Title: AN ACT TO CREATE THE "MISSISSIPPI QUALITY 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 DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT; TO PROVIDE THE CRITERIA FOR ELIGIBILITY FOR INCENTIVE PAYMENTS; TO CREATE THE MISSISSIPPI QUALITY 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.
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2000/html/History/SB/SB3057.htm