HB1 - Economic development; provide incentives for certain economic development projects.

5 Co-Sponsors

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 Facilities For The Manufacture And Assembly Of Battery Cells For Electric Commercial Vehicles And Industrial Applications; To Revise The Definition Of The Terms "project Area" And "affiliate" Under The Mississippi Major Economic Impact Act; 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 Certain Contracts Related To The Projects Included In This Act Shall Be Exempt From All Or A Portion Of The Provisions Of Section 31-7-13 And That Such Contracts May Be Awarded On The Basis Of Negotiation Under Certain Circumstances And To Authorize The Use Of Additional Methods Of Contracting; 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 The Projects Included In This Act; To Amend Section 57-75-15, Mississippi Code Of 1972, To Authorize The Issuance Of State General Obligation Bonds For The Projects Included In This Act And To Specify The Purposes For Which The Proceeds Of Such Bonds May Be Utilized; To Amend Section 57-75-17, Mississippi Code Of 1972, To Provide Protection For Certain Projects Comprising The Manufacture And Assembly Of Battery Cells For Electric Commercial Vehicles And Industrial Applications, From Surface Or Subsurface Mineral Exploration Activities; To Amend Section 57-75-33, Mississippi Code Of 1972, To Provide That The Board Of Supervisors Of A County May Enter Into An Agreement With One Or More Enterprises Owning And/or Operating Certain Facilities For The Manufacture And Assembly Of Battery Cells For Electric Commercial Vehicles And Industrial Applications, And/or One Or More Affiliates Thereof, Providing That The County 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 To Authorize The Board Of Supervisors To Enter Into A Fee-in-lieu Of Ad Valorem Taxes Agreement With The Enterprises Owning And/or Operating Such Projects; To Amend Section 57-75-37, Mississippi Code Of 1972, To Authorize A County In Which Certain Projects Comprising The Manufacture And Assembly Of Battery Cells For Electric Commercial Vehicles And Industrial Applications, Are Located To Assist The Enterprises Establishing The Projects, And Their Affiliates, Together With Certain Public Agencies, In Defraying Certain Costs; To Authorize Such A County To Provide Funds For Such Purposes By Appropriating Money From Its General Fund Or From The Proceeds Of General Obligation Bonds Issued By The County And/or Loans, Grants And Other Funds From The Mississippi Major Economic Impact Authority Or Mississippi Development Authority; To Authorize Certain Public Agencies To Provide Funds For Such Purposes By Appropriating Money From Certain Sources, Including From The Proceeds Of Loans, Grants And Other Funds From The Mississippi Major Economic Impact Authority; To Authorize Certain Transfers And Conveyances Of Real Or Personal Property With Or Without Consideration; To Authorize Certain Public Agencies To Make Grants To Each Other In Connection With Such A Project; To Exempt The Acquisition Of Certain Real Property And/or Options To Purchase Such Real Property For Such Projects From Certain Requirements; To Authorize Certain Public Agencies To Provide Periodic Grants And Other Such Contributions Of Funds To Assist The Enterprises Establishing The Projects Included In This Act And To Enter Into Certain Agreements In Connection Therewith; To Amend Section 27-65-101, Mississippi Code Of 1972, To Exempt From Sales Taxation Certain Sales Or Leases To Enterprises Operating The Projects Included In This Act And Certain Affiliates Thereof; To Amend Section 31-19-25, Mississippi Code Of 1972, To Provide That Certain Provisions Regarding The Issuance Of Bonds Or Incurrence Of Other Indebtedness Shall Not Apply To The Sale Of Bonds Or Incurrence Of Indebtedness By A County In Connection With Certain Projects Comprising The Manufacture And Assembly Of Battery Cells For Electric Commercial Vehicles And Industrial Applications; To Amend Section 43-37-3, Mississippi Code Of 1972, In Conformity To The Provisions Of This Act; To Amend Sections 27-13-5 And 27-13-7, Mississippi Code Of 1972, To Provide That In Regard To Certain Projects Comprising The Manufacture And Assembly Of Battery Cells For Electric Commercial Vehicles And Industrial Applications, The Duration Of Any Fee-in-lieu Of Franchise Tax Agreement Shall Not Extend Beyond The Date The Mississippi Franchise Tax Is Repealed And Such Agreement Shall Apply Only To New Franchise Tax Liability Connected With The Projects Included In This Act; To Provide That In The Event That The Annual Number Of Full-time Jobs Maintained Connected With Any Such Project Falls Below The Agreed Upon Amount For A Prescribed Period, The Franchise Tax Fee-in-lieu For The Project Shall Be Reduced Or Suspended Until The First Tax Year During Which The Annual Number Of Full-time Jobs Maintained Reaches The Agreed Upon Amount; To Amend Section 19-9-5, Mississippi Code Of 1972, In Conformity To The Provisions Of This Act; To Amend Section 89-1-23, Mississippi Code Of 1972, In Conformity To The Provisions Of This Act; To Amend Section 27-7-30, Mississippi Code Of 1972, To Provide Income Tax Exemptions For Income Arising From The Projects Included In This Act; To Amend Section 65-1-85, Mississippi Code Of 1972, To Revise Certain Provisions Regarding The Use Of The Design-build Method Of Contracting By The Mississippi Transportation Commission For Certain Projects; And For Related Purposes.