Bill Text | History of Actions | Background | Title |
Description: Economic Redevelopment Act; create and provide incentives for development of certain property.
Bill Text: [Introduced] [Committee Substitute]
| 1 | 01/17 (S) Referred To Finance | |
| 2 | 02/01 (S) Title Suff Do Pass Comm Sub | |
| 3 | 02/09 (S) Committee Substitute Adopted | |
| 4 | 02/09 (S) Recommitted to Committee | |
| 5 | 02/09 (S) Died In Committee |
| Effective date | January 1, 2005 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
Senate Committee:
Principal Author: Chaney
Code Sections: A 027-0007-0045, A 027-0013-0005, A 027-0013-0007, A 027-0065-0075, A 027-0067-0031, A 075-0076-0129
Title: AN ACT TO CREATE THE "ECONOMIC REDEVELOPMENT ACT" TO ASSIST CERTAIN COUNTIES AND MUNICIPALITIES IN ENCOURAGING ECONOMIC REDEVELOPMENT OF CERTAIN CONTAMINATED SITES; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO DESIGNATE CERTAIN COUNTIES AND MUNICIPALITIES AS REDEVELOPMENT COUNTIES AND MUNICIPALITIES; TO PROVIDE THAT CERTAIN COUNTIES AND MUNICIPALITIES MAY APPLY TO THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR DESIGNATION AS REDEVELOPMENT COUNTIES AND MUNICIPALITIES; TO PROVIDE AN INCENTIVE FOR PERSONS, CORPORATIONS OR OTHER ENTITIES THAT INCUR INDEBTEDNESS TO UNDERTAKE REDEVELOPMENT PROJECTS; TO CREATE THE REDEVELOPMENT INCENTIVE FUND; TO AUTHORIZE INCENTIVE PAYMENTS FROM SUCH FUND TO PERSONS, CORPORATIONS OR OTHER ENTITIES THAT INCUR INDEBTEDNESS TO UNDERTAKE REDEVELOPMENT PROJECTS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO DEVELOP A PROGRAM TO ADMINISTER THE INCENTIVE PAYMENT AUTHORIZED BY THIS ACT; TO PROVIDE THAT SALES AND USE TAXES IMPOSED ON SALES AND PURCHASES OF AN APPROVED BUSINESS ENTERPRISE WITHIN A REDEVELOPMENT PROJECT AREA, INCOME TAX IMPOSED ON INCOME EARNED BY AN APPROVED BUSINESS ENTERPRISE WITHIN A REDEVELOPMENT PROJECT AREA, FRANCHISE TAX IMPOSED ON THE VALUE OF CAPITAL USED, INVESTED OR EMPLOYED BY AN APPROVED BUSINESS ENTERPRISE WITHIN A REDEVELOPMENT PROJECT AREA, AND CERTAIN GAMING LICENSE FEES IMPOSED ON AN APPROVED BUSINESS ENTERPRISE OPERATING WITHIN A REDEVELOPMENT PROJECT AREA, SHALL BE DEPOSITED INTO THE REDEVELOPMENT PROJECT INCENTIVE FUND; TO AMEND SECTIONS 27-7-45, 27-13-5, 27-13-7, 27-65-75, 27-67-31 AND 75-76-129, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.
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2005/html/History/SB/SB2950.htm