Legislative Bill Summary – SB 3408 (Mississippi, 2026)
Proposed by: Senator Thomas (Co-sponsor: Joseph Thomas)
Jurisdiction: Yazoo County, Mississippi
Session: Regular Session 2026
Title: Yazoo County; authorize to establish Yazoo Economic Partnership as economic and industrial development authority
Status: Died on Calendar (as of action history)
- 2026-03-13: Referred to Local and Private
- 2026-03-24: Title Suff Do Pass Comm Sub
- 2026-04-15: Died On Calendar
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1) Purpose and Intent
- Authorizes Yazoo County’s Board of Supervisors to establish an economic and industrial development authority named the Yazoo Economic Partnership.
- Creates a framework for the partnership to undertake economic and industrial development activities within Yazoo County and its municipalities.
- Enables consolidation of certain responsibilities and assets from the existing Yazoo County Economic Development District into the new partnership, and allows dissolution of the district if desired.
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2) Key Provisions and Changes
Establishment and Governance
- The Board of Supervisors may establish the Yazoo Economic Partnership as the county’s economic and industrial development authority.
- The partnership will be governed by five trustees.
- Trustees can either be county supervisors (serving concurrent with their term) or five non-official electors qualified in the county.
- If non-official trustees are used, terms are staggered: three one-year terms and two two-year terms, with the possibility of renewal. Disqualifications include felony conviction or three consecutive unexcused absences.
- Vacancies are filled in the same manner as original appointments.
Advisory Role of County Officials
- The Board of Supervisors or their designees serve as nonvoting, ex officio members for advisory purposes. Their attendance does not count toward the partnership’s quorum.
Administrative Requirements
- Trustees (except if they are board members) must take an oath and post a $5,000 bond.
- Initial meeting within five days of appointment; officers (chairman, vice-chairman, secretary-treasurer) elected; bylaws and a governing seal adopted.
Powers and Authority
- The partnership can acquire, own, develop, and manage real and personal property for industrial, economic, or other development purposes, including development of industrial parks, sites, or business parks.
- Authority to engage in related site development activities (streets, utilities, water, sewerage, etc.).
- Ability to sell, lease, trade, or otherwise dispose of property and to enter contracts and agreements for development.
- Ability to contribute funds to private economic development groups and to bind successors.
- Authority to set and collect fees for facilities; exemptions from federal and state regulatory limitations on certain charges apply (with caveats for common carriers and Public Service Commission-regulated entities).
Debt and Financial Provisions
- May borrow money via promissory notes secured by deeds of trust or other collateral, with possible pledge of county levy revenue to securitize debt.
- County liability for debt is limited to the pledged levy amount.
- County may issue bonds on behalf of the partnership as permitted by law.
- Requires annual budgeting and post-audit financial reporting to the Board of Supervisors.
Economic Development Scope
- Broadly authorizes development of a wide range of industries (e.g., manufacturing, aerospace, IT, data centers, tourism, logistics, government defense, etc.).
- Emphasizes workforce development and training initiatives.
Taxes and Taxation
- Real property and other assets owned by the partnership are exempt from state taxation.
- Notes issued by the partnership are exempt from state income taxation and do not count toward debt limits.
Intergovernmental and Municipal Cooperation
- Trustees may contract for services with municipalities or other local/regional entities, potentially including nonvoting advisory representatives from municipalities with funding contributions.
- Authority to dissolve the Yazoo County Economic Development District and transfer assets/liabilities to the partnership, if deemed in the county’s best interest.
Grants and Funding
- Partnership can accept grants and loans from state, federal, or private sources and may engage in cooperative agreements with other development entities.
Effective Date
- The act would take effect upon passage.
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3) Who Would Be Affected
- Yazoo County Board of Supervisors: Would gain authority to create and oversee the Yazoo Economic Partnership and potentially levy county taxes to support it.
- Yazoo County residents and workforce: Potential access to expanded economic development, job creation, and workforce training programs.
- Municipalities within Yazoo County: Could participate via contracts, advisory nonvoting representatives, and funding agreements.
- Existing Yazoo County Economic Development District: Could be dissolved and its assets/liabilities transferred to the Yazoo Economic Partnership.
- Private developers and businesses: Could be affected by new development incentives, land ownership options, and negotiated agreements for projects.
- County taxpayers: Could be subject to a new or expanded tax levy (up to two mills) to support the partnership, subject to voter approval under specified conditions.
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4) Procedural and Timeline Aspects
- Creation and Governance: Five trustees; option to appoint either county officials or qualified electors; specific terms and vacancy rules.
- Financial Oversight: Required annual budget and post-audit reporting; ability to issue notes and bonds with county backing as allowed.
- Tax Levy Process: If a new two-mill levy is proposed, must follow notice and potential voter approval via a special election if protested by a threshold of electors.
- Dissolution Authority: Board of Supervisors may dissolve the existing Development District upon creation of the partnership and transfer assets/liabilities.
- Effective Date: In effect once enacted.
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Summary
SB 3408 would authorize Yazoo County to create the Yazoo Economic Partnership, a five-trustee economic and industrial development authority empowered to acquire, develop, and manage property and projects aimed at broad economic growth. It includes authority to levy up to two mills (with potential voter-protected approval) to fund the partnership, to borrow money, and to contract with municipalities and other entities. The bill envisions possible dissolution of the existing Yazoo County Economic Development District and transfer of its assets, enabling a unified, county-wide development effort with a focus on workforce development and diverse industrial opportunities. The act emphasizes broad governmental powers to promote development, while ensuring oversight through annual budgets and audits, and provides a framework for intergovernmental cooperation.
