Bill Text | History of Actions | Background | Title |
Description: Economic Development; authorize incentives for certain projects.
Bill Text: [Introduced] [Passed Senate] [Sent to Governor]
| 1 | 03/01 Suspend from Deadlines by SC 594 | |
| 2 | 03/01 (S) Referred To Finance | |
| 3 | 03/02 (S) Title Suff Do Pass | |
| 4 | 03/02 (S) Passed {Vote} | |
| 5 | 03/02 (S) Immediate Release | |
| 6 | 03/02 (S) Transmitted To House | |
| 7 | 03/02 (H) Referred To Ways and Means | |
| 8 | 03/02 (H) Title Suff Do Pass | |
| 9 | 03/02 (H) Passed {Vote} | |
| 10 | 03/02 (H) Immediate Release | |
| 11 | 03/02 (H) Transmitted To Senate | |
| 12 | 03/02 (S) Enrolled Bill Signed | |
| 13 | 03/02 (H) Enrolled Bill Signed | |
| 14 | 03/02 Approved by Governor |
| Effective date | Passage | |
| Disposition | Law | |
| Deadline | None | |
| Revenue | No | |
| Vote type required | Three/Fifths | |
| Chapter number | 303 |
Senate Committee:
House Committee:
Principal Author: Nunnelee
Additional Authors: Browning, Bryan, Gordon, Little, Robertson, Albritton, Brown, Burton, Butler, Carmichael, Chassaniol, Clarke, Davis, Dawkins, Flowers, Frazier, Harden, Hewes, Jackson (15th), Jackson (11th), Jackson (32nd), Jordan, King, Lee (35th), Mettetal, Moffatt, Morgan, Pickering, Posey, Ross, Simmons, Thames, Thomas, Tollison, Walls, White, Wilemon, Horhn
Code Sections: A 057-0075-0005, A 057-0075-0009, A 057-0075-0011, A 057-0075-0015, A 057-0075-0033, A 021-0001-0059, A 027-0019-0309, A 027-0031-0001, A 063-0017-0055, A 063-0017-0103, A 011-0027-0081, A 057-0064-0019, A 027-0065-0101, A 027-0067-0007, A 027-0007-0312, A 027-0065-0075, A 027-0031-0048, A 027-0031-0104, A 011-0027-0085
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 INCLUDE CERTAIN AUTOMOTIVE MANUFACTURING AND ASSEMBLY PLANTS AND THEIR AFFILIATES WITH AN INITIAL CAPITAL INVESTMENT FROM PRIVATE SOURCES OF NOT LESS THAN $500,000,000.00 WHICH WILL CREATE AT LEAST 1,500 JOBS MEETING CRITERIA ESTABLISHED BY THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY; TO AMEND SECTION 57-75-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CONTRACTS BY THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY OR A PUBLIC AGENCY FOR SITE PREPARATION OR FOR PUBLIC WORKS FOR SUCH A PROJECT SHALL BE EXEMPT FROM THE PROVISIONS OF SECTION 31-7-13 AND TO PROVIDE AN ALTERNATE PROCEDURE FOR THE AWARD OF SUCH CONTRACTS; TO AMEND SECTION 57-75-11, MISSISSIPPI CODE OF 1972, TO GRANT THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY CERTAIN ADDITIONAL POWERS AND DUTIES WITH REGARD TO SUCH PROJECTS; TO AMEND SECTION 57-75-15, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR SUCH PROJECTS AND TIER ONE SUPPLIERS OF SUCH PROJECTS AND TO SPECIFY THE PURPOSES FOR WHICH THE PROCEEDS OF SUCH BONDS MAY BE UTILIZED; TO AMEND SECTION 57-75-33, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE BOARD OF SUPERVISORS OF A COUNTY OR THE GOVERNING AUTHORITIES OF A MUNICIPALITY MAY EACH ENTER INTO AN AGREEMENT WITH AN ENTERPRISE OPERATING SUCH A PROJECT PROVIDING THAT THE COUNTY OR MUNICIPALITY WILL NOT LEVY ANY TAXES, FEES OR ASSESSMENTS UPON THE ENTERPRISE OTHER THAN TAXES, FEES OR ASSESSMENTS THAT ARE GENERALLY LEVIED UPON ALL TAXPAYERS AND THE BOARD OF SUPERVISORS OR THE GOVERNING AUTHORITIES ALSO MAY EACH ENTER INTO A FEE-IN-LIEU AGREEMENT; TO AMEND SECTION 21-1-59, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE GOVERNING AUTHORITIES OF A MUNICIPALITY MAY ENTER INTO AN AGREEMENT WITH AN ENTERPRISE OPERATING SUCH A PROJECT PROVIDING THAT THE MUNICIPALITY SHALL NOT CHANGE ITS BOUNDARIES SO AS TO INCLUDE WITHIN THE LIMITS OF SUCH MUNICIPALITY THE PROJECT SITE OF SUCH A PROJECT UNLESS CONSENT THERETO SHALL BE OBTAINED IN WRITING FROM THE ENTERPRISE OPERATING THE PROJECT; TO AMEND SECTION 27-19-309, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A MOTOR VEHICLE MANUFACTURER OPERATING SUCH A PROJECT TO OBTAIN DISTINGUISHING TAGS FOR CERTAIN MOTOR VEHICLES OWNED BY THE MANUFACTURER; TO AMEND SECTION 27-31-1, MISSISSIPPI CODE OF 1972, TO PROVIDE AN AD VALOREM TAX EXEMPTION FOR SUCH A PROJECT IF MUNICIPAL BOUNDARIES ARE EXPANDED TO INCLUDE THE PROJECT; TO AMEND SECTIONS 63-17-55 AND 63-17-103, MISSISSIPPI CODE OF 1972, TO EXEMPT CERTAIN SALES MADE BY MANUFACTURERS OPERATING SUCH A PROJECT FROM THE PROVISIONS OF THE MISSISSIPPI MOTOR VEHICLE COMMISSION LAW; TO AMEND SECTION 11-27-81, MISSISSIPPI CODE OF 1972, TO AUTHORIZE REGIONAL ECONOMIC DEVELOPMENT ALLIANCES CREATED UNDER THE REGIONAL ECONOMIC DEVELOPMENT ACT TO EXERCISE THE RIGHT OF IMMEDIATE POSSESSION WITH REGARD TO CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 11-27-85, MISSISSIPPI CODE OF 1972, TO AUTHORIZE REGIONAL ECONOMIC DEVELOPMENT ALLIANCES CREATED UNDER THE REGIONAL ECONOMIC DEVELOPMENT ACT TO EXERCISE THE RIGHT OF IMMEDIATE TITLE AND POSSESSION WITH REGARD TO CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 57-64-19, MISSISSIPPI CODE OF 1972, TO GRANT REGIONAL ECONOMIC DEVELOPMENT ALLIANCES CREATED UNDER THE REGIONAL ECONOMIC DEVELOPMENT ACT CERTAIN POWERS WITH REGARD TO CERTAIN PROJECTS UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO PROVIDE THAT A QUALIFIED BUSINESS OR INDUSTRY SHALL BE EXEMPT FROM INCOME TAXATION ON INCOME ARISING FROM CERTAIN PROJECTS DEVELOPED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO REVISE THE EXEMPTION FROM SALES TAXATION FOR SALES TO CERTAIN MANUFACTURERS OF MOTOR VEHICLES OF MACHINERY AND CERTAIN SPECIAL TOOLS OR REPAIR PARTS THEREFOR, FUEL AND SUPPLIES USED DIRECTLY IN THE MANUFACTURE OF MOTOR VEHICLES OR MOTOR VEHICLE PARTS; TO REVISE THE EXEMPTION FROM SALES TAXATION FOR THE SALE OF MATERIALS, MACHINERY AND EQUIPMENT USED IN THE CONSTRUCTION OF A BUILDING, OR AN ADDITION OR IMPROVEMENT THEREON TO AN ENTERPRISE OPERATING CERTAIN PROJECTS DEFINED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 27-67-7, MISSISSIPPI CODE OF 1972, TO REVISE THE EXEMPTION FROM USE TAXATION FOR CERTAIN PERSONAL PROPERTY USED BY A TAXPAYER OTHER THAN THE MANUFACTURER, WHEN THE MANUFACTURER STILL HOLDS TITLE TO THE GOODS AND THE ITEMS ARE PURCHASED AS PART OF CERTAIN PROJECTS DEVELOPED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO PROVIDE FOR INCENTIVE PAYMENTS TO QUALIFIED BUSINESSES FOR A PERIOD OF NOT TO EXCEED 25 YEARS; TO PROVIDE FOR THE AMOUNT OF THE INCENTIVE PAYMENTS; TO PROVIDE THAT THE PAYMENTS SHALL BE BASED ON THE WAGES AND TAXABLE BENEFITS OR THE AMOUNT OF STATE INCOME TAX WITHHELD FOR QUALIFIED JOBS CREATED; TO PROVIDE THAT IN ORDER TO QUALIFY FOR SUCH PAYMENTS, A CERTAIN NUMBER OF JOBS MUST BE CREATED OR MAINTAINED; TO CREATE A SPECIAL FUND IN THE STATE TREASURY INTO WHICH SHALL BE DEPOSITED A CERTAIN PORTION OF THE WITHHOLDING TAXES PAID BY THE QUALIFIED BUSINESS; TO PROVIDE THAT MONIES IN THE SPECIAL FUND SHALL BE USED TO MAKE THE REQUIRED INCENTIVE PAYMENTS; TO PROVIDE THAT CLAIMS FOR INCENTIVE PAYMENTS SHALL BE FILED WITH THE STATE TAX COMMISSION; TO PROVIDE THAT THE STATE TAX COMMISSION SHALL VERIFY THE ELIGIBILITY OF THE BUSINESS FOR THE INCENTIVE PAYMENTS; TO AMEND SECTION 27-7-312, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO PROVIDE FOR INCENTIVE PAYMENTS TO ENTITIES THAT INCUR CERTAIN COSTS FOR THE PURPOSE OF LOCATING CERTAIN PROJECTS DEVELOPED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT IN THIS STATE; TO PROVIDE FOR THE AMOUNT OF THE INCENTIVE PAYMENTS; TO PROVIDE THAT THE PAYMENTS SHALL BE BASED ON CERTAIN COSTS INCURRED; TO CREATE A SPECIAL FUND IN THE STATE TREASURY INTO WHICH SHALL BE DEPOSITED A PORTION OF THE STATE SALES TAX REVENUE; TO PROVIDE THAT MONIES IN THE SPECIAL FUND SHALL BE USED TO MAKE THE REQUIRED INCENTIVE PAYMENTS; TO PROVIDE THAT CLAIMS FOR INCENTIVE PAYMENTS SHALL BE FILED WITH THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO DEVELOP AND ADMINISTER SUCH INCENTIVE PROGRAM; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AMEND SECTION 27-31-48, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "VENDOR TOOLING" FOR THE PURPOSES OF AN AD VALOREM TAX EXEMPTION AUTHORIZED FOR VENDOR TOOLING; TO AMEND SECTION 27-31-104, MISSISSIPPI CODE OF 1972, TO CLARIFY CERTAIN PROVISIONS REGARDING THE MANNER OF DETERMINING THE AMOUNT OF A FEE-IN-LIEU OF AD VALOREM TAXES FOR CERTAIN PROJECTS; TO REVISE CERTAIN PROVISIONS REGARDING THE ALLOCATION OF ANY FEE-IN-LIEU OF AD VALOREM TAXES ALLOWED FOR CERTAIN PROJECTS DEVELOPED UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; AND FOR RELATED PURPOSES.
End Of Document
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