Bill Text | History of Actions | Amendments | Background | Title |
Description: Suspend deadline for drafting, introduction & passage; general obligation bonds for various projects and enact Momentum Mississippi.
Bill Text: [Introduced] [Passed Senate]
| 1 | 04/04 (S) Referred To Rules | |
| 2 | 04/04 (S) Title Suff Do Be Adopted | |
| 3 | 04/05 (S) Amended | |
| 4 | 04/05 (S) Adopted As Amended | |
| 5 | 04/05 (S) Immediate Release | |
| 6 | 04/05 (S) Transmitted To House | |
| 7 | 04/05 (H) Referred To Rules | |
| 8 | 04/07 (H) Died In Committee |
| Adopted | [S] | Amendment No 1 |
| Effective date | No Effective Date | |
| Disposition | Dead | |
| Deadline | None | |
| Revenue | No | |
| Vote type required | Two/Thirds |
Senate Committee:
House Committee:
Principal Author: Robertson
Title: A CONCURRENT RESOLUTION SUSPENDING THE DEADLINES FOR THE PURPOSE OF REQUESTING THE DRAFTING, INTRODUCTION, CONSIDERATION AND PASSAGE OF A BILL ENTITLED "AN ACT TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE OF MISSISSIPPI IN THE AMOUNT OF $2,000,000.00 FOR THE PURPOSE OF PROVIDING FUNDS FOR THE B.B. KING MUSEUM; TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE OF MISSISSIPPI IN THE AMOUNT OF $2,000,000.00 FOR THE SOUTHERN ARTS AND ENTERTAINMENT CENTER; TO AUTHORIZE THE ISSUANCE OF $16,000,000.00 IN STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS FOR CAPITAL IMPROVEMENTS AT AN ECONOMIC DEVELOPMENT AND TOURISM DESTINATION FACILITY IN HANCOCK COUNTY, MISSISSIPPI, THAT FEATURES A SPACE, SCIENCE AND EDUCATION CENTER; TO REQUIRE THE COMMITMENT OF A CERTAIN AMOUNT OF PRIVATE, LOCAL OR FEDERAL FUNDS FOR SUCH PROJECTS AS A CONDITION PRECEDENT TO THE ISSUANCE OF BONDS UNDER THIS ACT; TO AUTHORIZE THE ISSUANCE OF $56,000,000.00 IN STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS FOR CAPITAL IMPROVEMENTS AT THE STATE-OWNED SHIPYARD LOCATED IN JACKSON COUNTY, MISSISSIPPI; TO PROVIDE THAT THE ISSUANCE OF SUCH BONDS SHALL BE CONDITIONED ON THE LESSEE INCURRING A CERTAIN AMOUNT OF DEBT FOR CAPITAL IMPROVEMENTS, CAPITAL INVESTMENTS OR CAPITAL UPGRADES TO SHIPYARDS IN MISSISSIPPI OWNED OR LEASED BY SUCH LESSEE; TO AMEND SECTION 57-75-11, MISSISSIPPI CODE OF 1972, TO REVISE THE AMOUNT OF ASSISTANCE THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY MAY PROVIDE THROUGH GRANT AND LOAN FUNDS TO ENTERPRISES OWNING OR OPERATING CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 57-75-15, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF BONDS THAT MAY BE ISSUED FOR CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO CREATE THE MISSISSIPPI EXISTING INDUSTRY PRODUCTIVITY LOAN PROGRAM TO BE ADMINISTERED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR THE PURPOSE OF PROVIDING LOANS TO CERTAIN INDUSTRIES THAT HAVE BEEN OPERATING IN THIS STATE FOR NOT LESS THAN TWO YEARS; TO PROVIDE THAT THE LOANS SHALL BE UTILIZED BY INDUSTRIES TO DEPLOY LONG-TERM FIXED ASSETS THAT THROUGH NEW TECHNOLOGY WILL IMPROVE PRODUCTIVITY AND COMPETITIVENESS; TO CREATE THE MISSISSIPPI EXISTING INDUSTRY PRODUCTIVITY LOAN FUND TO BE ADMINISTERED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS FOR THE MISSISSIPPI EXISTING INDUSTRY PRODUCTIVITY LOAN FUND; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS FOR THE ACE FUND; TO AMEND SECTION 57-1-16, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO UTILIZE THE PROCEEDS OF GENERAL OBLIGATION BONDS ISSUED FOR THE ACE FUND TO REIMBURSE THE AUTHORITY FOR REASONABLE ACTUAL AND NECESSARY COSTS INCURRED IN PROVIDING ASSISTANCE FROM THE ACE FUND; TO LIMIT THE AMOUNT OF SUCH REIMBURSEMENTS TO AN AMOUNT NOT TO EXCEED 3% OF THE GENERAL OBLIGATION BONDS ISSUED FOR GRANTS; TO REQUIRE THAT BUSINESSES OR INDUSTRIES SEEKING ASSISTANCE FROM THE ACE FUND PROVIDE CERTAIN INFORMATION AND ENTER INTO CERTAIN AGREEMENTS; TO AMEND SECTION 57-61-25, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF GENERAL OBLIGATION BONDS THAT MAY BE ISSUED UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT; TO AMEND SECTION 57-61-34, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF BOND PROCEEDS THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY MAY UTILIZE UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT FOR INTEREST-BEARING LOANS TO MUNICIPALITIES OR PRIVATE COMPANIES TO AID IN THE ESTABLISHMENT OF BUSINESS INCUBATION CENTERS AND THE CREATION OF NEW AND EXPANDING RESEARCH AND DEVELOPMENT AND TECHNOLOGY-BASED BUSINESS AND INDUSTRY; TO AMEND SECTION 57-61-36, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF BOND PROCEEDS THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY MAY UTILIZE UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT TO MAKE GRANTS OR LOANS TO COUNTIES AND MUNICIPALITIES THROUGH AN EQUIPMENT AND PUBLIC FACILITIES GRANT AND LOAN FUND TO AID IN INFRASTRUCTURE-RELATED IMPROVEMENTS, THE PURCHASE OF EQUIPMENT AND IN THE PURCHASE, CONSTRUCTION OR REPAIR AND RENOVATION OF PUBLIC FACILITIES; TO ESTABLISH AN INCOME TAX CREDIT FOR MANUFACTURING ENTERPRISES THAT HAVE OPERATED IN THIS STATE FOR NOT LESS THAN TWO YEARS IN AN AMOUNT EQUAL TO A CERTAIN PERCENTAGE OF THE ENTERPRISE'S INVESTMENT IN BUILDINGS OR EQUIPMENT; TO PROVIDE THAT ANY SUCH TAX CREDIT CLAIMED BUT NOT USED IN ANY TAXABLE YEAR MAY BE CARRIED FORWARD FOR FIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE ELIGIBLE INVESTMENT WAS MADE; TO PROVIDE THAT THE CREDIT TAKEN IN ANY ONE TAX YEAR IS LIMITED TO AN AMOUNT NOT GREATER THAN 50% OF THE TAXPAYER'S STATE INCOME TAX LIABILITY WHICH IS ATTRIBUTABLE TO INCOME DERIVED FROM OPERATIONS IN THE STATE FOR THAT YEAR; TO PROVIDE THAT THE MANUFACTURING ENTERPRISE MUST INVEST AT LEAST $1,000,000.00 TO BE ELIGIBLE FOR THE CREDIT; TO PROVIDE THAT THE MAXIMUM CUMULATIVE CREDIT THAT MAY BE CLAIMED BY A TAXPAYER FOR ANY ONE PROJECT IS LIMITED TO $1,000,000.00; TO PROVIDE FOR RECAPTURE OF THE CREDIT UNDER CERTAIN CIRCUMSTANCES; TO AMEND SECTION 27-31-101, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD OF SUPERVISORS OF COUNTIES AND THE GOVERNING AUTHORITIES OF MUNICIPALITIES TO GRANT CERTAIN AD VALOREM TAX EXEMPTIONS TO DATA/INFORMATION PROCESSING ENTERPRISES AND TECHNOLOGY INTENSIVE ENTERPRISES MEETING MINIMUM CRITERIA ESTABLISHED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO AMEND SECTION 27-65-17, MISSISSIPPI CODE OF 1972, TO IMPOSE THE SALES TAX AT A REDUCED RATE ON CERTAIN SALES OF MACHINERY AND MACHINE PARTS TO A TECHNOLOGY INTENSIVE BUSINESS FOR PLANT USE; TO AMEND SECTION 27-65-19, MISSISSIPPI CODE OF 1972, TO REDUCE THE SALES TAX ON CERTAIN FUELS SOLD TO OR USED BY TECHNOLOGY INTENSIVE ENTERPRISES; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM SALES TAXATION SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A FACILITY, OR ANY ADDITION OR IMPROVEMENT TO SUCH FACILITY, AND SALES OR LEASES OF MACHINERY AND EQUIPMENT TO BE USED IN SUCH FACILITIES, ADDITIONS OR IMPROVEMENTS, TO PERMANENT BUSINESS ENTERPRISES OPERATING A DATA/INFORMATION ENTERPRISE IN A TIER THREE AREA MEETING MINIMUM CRITERIA ESTABLISHED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO EXEMPT FROM SALES TAXATION SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A FACILITY, OR ANY ADDITION OR IMPROVEMENT TO SUCH FACILITY, AND SALES OF MACHINERY AND EQUIPMENT TO BE USED IN SUCH FACILITIES, ADDITIONS OR IMPROVEMENTS, TO TECHNOLOGY INTENSIVE ENTERPRISES FOR INDUSTRIAL PURPOSES IN A TIER THREE AREA; TO REDUCE THE SALES TAXATION ON SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A FACILITY, OR ANY ADDITION OR IMPROVEMENT TO SUCH BUILDING, AND SALES OR LEASES OF MACHINERY AND EQUIPMENT TO BE USED IN SUCH BUILDINGS, ADDITIONS OR IMPROVEMENTS, TO PERMANENT BUSINESS ENTERPRISES OPERATING A DATA/INFORMATION ENTERPRISE IN A TIER ONE OR TIER TWO AREA MEETING MINIMUM CRITERIA ESTABLISHED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO REDUCE THE SALES TAXATION ON SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A FACILITY, OR ANY ADDITION OR IMPROVEMENT TO SUCH FACILITY, AND SALES OF MACHINERY AND EQUIPMENT, TO TECHNOLOGY INTENSIVE ENTERPRISES FOR INDUSTRIAL PURPOSES IN A TIER ONE OR TIER TWO AREA; TO AMEND SECTION 57-73-21, MISSISSIPPI CODE OF 1972, TO REVISE THE AMOUNT OF THE JOB TAX CREDIT FOR CERTAIN PERMANENT BUSINESS ENTERPRISES TO PROVIDE THAT THE AMOUNT OF THE CREDIT SHALL BE A CERTAIN PERCENTAGE OF SUCH ENTERPRISE'S PAYROLL; TO REENACT SECTIONS 57-10-401 THROUGH 57-10-445, MISSISSIPPI CODE OF 1972, WHICH PROVIDE FOR THE ISSUANCE OF BONDS BY THE MISSISSIPPI BUSINESS FINANCE CORPORATION TO FINANCE ECONOMIC DEVELOPMENT PROJECTS IN ORDER TO INDUCE THE LOCATION OR EXPANSION OF CERTAIN BUSINESSES WITHIN THIS STATE; TO REENACT SECTION 27-7-22.3, MISSISSIPPI CODE OF 1972, WHICH PROVIDES FOR A CREDIT AGAINST STATE INCOME TAXES FOR CERTAIN COMPANIES FOR DEBT SERVICE PAID BY SUCH COMPANIES UNDER FINANCING AGREEMENTS ENTERED INTO WITH THE MISSISSIPPI BUSINESS FINANCE CORPORATION UNDER SECTION 57-10-409, MISSISSIPPI CODE OF 1972; TO AMEND SECTION 57-10-401, MISSISSIPPI CODE OF 1972, TO INCLUDE CERTAIN INFORMATION PROCESSING BUSINESSES, NATIONAL OR REGIONAL HEADQUARTERS, RESEARCH AND DEVELOPMENT FACILITIES AND TECHNOLOGY INTENSIVE ENTERPRISES OR FACILITIES WITHIN THE DEFINITION OF THE TERM "ELIGIBLE COMPANY"; TO AMEND SECTIONS 57-62-5 AND 57-62-9, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "QUALIFIED BUSINESS OR INDUSTRY" UNDER THE MISSISSIPPI ADVANTAGE JOBS ACT TO ALLOW A BUSINESS TO BE ELIGIBLE FOR THE INCENTIVE PAYMENT UNDER THE ACT IF IT IS A DATA/INFORMATION PROCESSING ENTERPRISE, MANUFACTURING OR DISTRIBUTION ENTERPRISE OR A RESEARCH AND DEVELOPMENT OR TECHNOLOGY INTENSIVE ENTERPRISE THAT MEETS CERTAIN CRITERIA; TO REQUIRE APPLICANTS FOR THE INCENTIVE PAYMENTS UNDER THE ACT TO EXECUTE A PERFORMANCE AGREEMENT WITH THE MISSISSIPPI DEVELOPMENT AUTHORITY THAT SPECIFIES THE MANNER IN WHICH THE APPLICANT WILL UTILIZE THE INCENTIVE PAYMENT; TO AMEND SECTION 57-62-13, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES."
End Of Document
2005/pdf/History/SC/SC0613.htm