Senate Bill 2940

AN ACT TO CREATE A JOINT LEGISLATIVE STUDY COMMITTEE TO STUDY AND MAKE RECOMMENDATIONS REGARDING THE ADVISABILITY OF OFFERING INCOME TAX CREDIT TO DEVELOPERS TO ENCOURAGE THE CONSTRUCTION OF RECREATIONAL TRAILS AND RECREATIONAL FACILITIES IN CONNECTION WITH THEIR DEVELOPMENTS; TO AUTHORIZE THE JOINT COMMITTEE TO MAKE A REPORT OF ITS FINDINGS AND RECOMMENDATIONS TO THE LEGISLATURE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) There is created a Joint Legislative Study Committee to study and make recommendations regarding the advisability of offering income tax credits to private developers to encourage the construction of recreational trails and recreational facilities in connection with their development projects.

(2) The joint committee shall be composed of the following eight (8) members:

(a) The Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee, who will be the co-chairmen of the joint committee;

(d) Three (3) senators to be appointed by the Lieutenant Governor; and

(e) Three (3) representatives to be appointed by the Speaker of the House.

(3) Appointments shall be made within thirty (30) days after the effective date of this section. The first meeting of the committee shall be held on a day to be designated jointly by the Speaker of the House and the Lieutenant Governor. A majority of the members of the committee shall constitute a quorum. In the adoption of rules, resolutions and reports, an affirmative vote of a majority of the members of each house shall be required.

(4) Members of the committee shall be paid from the contingent expense funds of their respective houses in the same manner as provided for committee meetings when the Legislature is not in session; however, no per diem or expense for attending meetings of the committee may be paid while the Legislature is in session, except that members of the committee may receive per diem and expenses when the Legislature is in session but in recess under the terms of a concurrent resolution, or in recess during a special session.

(5) The committee shall make a report of its findings and recommendations to the Legislature not later than December 1, 2010. At the time of submission of its report, the committee shall be dissolved.

SECTION 2. This act shall take effect and be in force from and after its passage.