Bill Text | History of Actions | Background | Title |
Description: MS Major Economic Impact Act; increase bonds for certain projects.
Bill Text: [Introduced]
| 1 | 06/21 (S) Referred To Finance | |
| 2 | 06/21 (S) Title Suff Do Pass Comm Sub | |
| 3 | 06/21 (S) Died On Calendar |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | None | |
| Revenue | No | |
| Vote type required | Majority |
Senate Committee:
Principal Author: Minor
Additional Authors: Blackmon, Furniss, Little
Code Sections: A 057-0075-0005, A 057-0075-0011, A 057-0075-0015, A 027-0007-0312
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 AUTHORIZE A FEE-IN-LIEU OF FRANCHISE TAXES TO BE NEGOTIATED BY THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY WITH ENTERPRISES OPERATING CERTAIN EXISTING PROJECTS; TO AMEND SECTION 57-75-11, MISSISSIPPI CODE OF 1972, TO INCREASE THE AGGREGATE AMOUNT OF CONTRACTS OR AGREEMENTS THAT THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY MAY ENTER INTO TO WARRANT SITE WORK AT CERTAIN PROJECTS FROM $10,000,000.00 TO $15,000,000.00; TO INCREASE THE AMOUNT AUTHORIZED FOR GRANTS TO ENTERPRISES OPERATING CERTAIN PROJECTS FROM $17,000,000.00 TO $39,000,000.00; TO AUTHORIZE THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY TO OWN CERTAIN SURFACE WATER TRANSMISSION LINES AND LEASE SUCH SURFACE WATER TRANSMISSION LINES TO PUBLIC AGENCIES OR UTILITIES; TO AMEND SECTION 57-75-15, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF BONDS THAT MAY BE ISSUED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT FOR CERTAIN PROJECTS FROM $295,000,000.00 TO $350,500,000.00 AND TO PROVIDE FOR THE ISSUANCE OF ADDITIONAL BONDS IN THE AMOUNT $12,500,000.00 FOR THE PURPOSE OF DEFRAYING THE COST OF CONSTRUCTION OF SURFACE WATER TRANSMISSION LINES FOR SUCH PROJECTS OR FOR ANY FACILITY RELATED TO THE PROJECTS; TO AMEND SECTION 27-7-312, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT WITHHOLDING TAXES MAY BE COLLECTED FROM ALL NEW DIRECT JOBS OF A QUALIFIED BUSINESS INDUSTRY UNDER THE MISSISSIPPI ADVANTAGE JOBS ACT AND DEPOSITED INTO THE MISSISSIPPI JOBS INCENTIVE PAYMENT FUND IN THE AMOUNT NECESSARY TO MAKE INCENTIVE PAYMENTS TO THE QUALIFIED BUSINESS OR INDUSTRY; AND FOR RELATED PURPOSES.
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