Miss. Code Ann. § 57-115-9 — MS Code / Title 57 / Chapter 73 / Section 115-9
Miss. Code Ann. § 57-115-9
Status: in_force

(1)(a) The MDA, or at its discretion the department, shall conduct an annual review of each Mississippi small business investment company to determine if a Mississippi small business investment company is abiding by the requirements of certification and to ensure that no investment has been made in violation this chapter. The cost of the annual review must be paid by each Mississippi small business investment company according to a reasonable fee schedule adopted by the MDA and/or the department. In the event the department conducts the annual review, the department shall provide copies of the review to the MDA. The MDA shall provide copies of each Mississippi small business investment company's annual review to the Mississippi small business investment company reviewed.

(b) Any material violation of this chapter, including any material misrepresentation made to the MDA in connection with the application process, may be grounds for decertification of a Mississippi small business investment company and the disallowance of credits under this chapter, provided that in all instances the MDA shall provide notice to the Mississippi small business investment company of the grounds of the proposed decertification. The Mississippi small business investment company shall have at least one hundred twenty (120) days from receipt of notice from the MDA to remedy any violation before the decertification becomes effective.

(c) After a Mississippi small business investment company has invested an amount cumulatively equal to one hundred percent (100%) of its designated capital in qualified investments, provided that the Mississippi small business investment company has met all other requirements under this chapter as of that date, the Mississippi small business investment company shall no longer be subject to regulation by the MDA or the department or the reporting requirements under Section 57-115-7(2) . Upon receiving certification by a Mississippi small business investment company that it has invested an amount equal to one hundred percent (100%) of its designated capital, the MDA must notify a Mississippi small business investment company within sixty (60) days that it has or has not met the requirements, with a reason for the determination if it has not met the requirements.

(d) The MDA must send written notice of any decertification proceedings to the Department of Revenue, the department, and to the address of each participating investor whose tax credit may be subject to recapture or forfeiture, using the address shown on the last filing submitted to the MDA.

(2) All investments by participating investors for which tax credits are awarded under this chapter must be registered or specifically exempt from registration.

(3) After January 1, 2015, the MDA must make an annual report to the Governor, the Chairman of the House Ways and Means Committee and Chairman of the Senate Finance Committee. The report must include:

(a) The number of Mississippi small business investment companies holding designated capital;

(b) The amount of designated capital invested in each Mississippi small business investment company;

(c) The cumulative amount that each Mississippi small business investment company has invested as of January 1, 2015, and the cumulative total each year thereafter;

(d) The cumulative amount of follow-on capital that the investments of each Mississippi small business investment company have created in terms of capital invested in qualified businesses at the same time or subsequent to investments made by a Mississippi small business investment company in the businesses by sources other than a Mississippi small business investment company;

(e) The total amount of investment tax credits applied for and allocated under this chapter for each year;

(f) The performance of each Mississippi small business investment company with regard to the requirements for continued certification;

(g) The classification of the companies in which each Mississippi small business investment company has invested according to industrial sector and size of company;

(h) The gross number of jobs created by investments made by each Mississippi small business investment company and the number of jobs retained;

(i) The location of the companies in which each Mississippi small business investment company has invested;

(j) Those Mississippi small business investment companies that have been decertified, including the reasons for decertification; and

(k) Other related information necessary to evaluate the effect of this chapter on economic development.
Miss. Code Ann. § 57-77-7 — MS Code / Title 57 / Chapter 73 / Section 77-7
Miss. Code Ann. § 57-77-7
Status: in_force

A taxpayer is entitled to a credit, determined in accordance with Section 27-7-22.11 , which must be applied against the state tax liability which may be imposed on the taxpayer.
Miss. Code Ann. § 57-44-7 — MS Code / Title 57 / Chapter 23 / Section 44-7
Miss. Code Ann. § 57-44-7
Status: in_force

(1) There is created a special fund in the State Treasury to be designated as the “Local Governments Freight Rail Service Project Revolving Loan Fund,” which fund shall consist of such monies as provided in Sections 57-44-11 through 57-44-39 . The fund shall be maintained in perpetuity for the purposes established in this chapter. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund may not be used or expended for any purpose except as authorized under this chapter. However, the Mississippi Development Authority, in order to promote the safety of the general public, shall establish a program to permit monies from the Local Governments Freight Rail Service Project Revolving Loan Fund to be provided to counties in the form of grants to assist counties in defraying expenses relating to the upgrading of railroad grade crossings. Only projects approved by the Mississippi Department of Transportation shall be eligible for such grants. The Mississippi Development Authority, by rule and regulation, shall establish the maximum amount of any grant awarded to a county and may establish such other rules and regulations as it deems appropriate or necessary to administer the grant program and ensure that monies in the fund are made available to all counties on an equitable basis. Federal funds shall be utilized to pay not less than five percent (5%) of the cost of each project. However, the maximum amount of such grants to all counties may not exceed Eight Million Dollars ($ 8,000,000.00), in the aggregate.

(2) The Mississippi Development Authority shall establish a loan program by which loans, at a rate of interest not to exceed one percent (1%) less than the federal reserve discount rate, may be made available to counties and incorporated municipalities to provide loans to counties and incorporated municipalities which may be used by the governing authorities of such counties and municipalities to provide loans to railroad corporations for freight rail service projects. Loans from the revolving fund may be made to counties and municipalities as set forth in a loan agreement in amounts established by the Mississippi Development Authority. The Mississippi Development Authority may establish a maximum amount for any loan in order to provide for broad and equitable participation in the program.

(3) A county that receives a loan from the revolving fund shall pledge for repayment of the loan any part of the homestead exemption annual tax loss reimbursement to which it may be entitled under Section 27-33-77 . An incorporated municipality that receives a loan from the revolving fund shall pledge for repayment of the loan any part of the sales tax revenue distribution to which it may be entitled under Section 27-65-75 . Each loan agreement shall provide for (a) monthly payments, (b) semiannual payments, or (c) other periodic payments, the annual total of which shall not exceed the annual total for any other year of the loan by more than fifteen percent (15%). The loan agreement shall provide for the repayment of all funds received within not more than fifteen (15) years from the date of project completion.

(4) The State Auditor, upon request of the Mississippi Development Authority, shall audit the receipts and expenditures of a county or an incorporated municipality whose loan payments appear to be in arrears, and if he finds that the county or municipality is in arrears in such payments, he shall immediately notify the Executive Director of the Department of Finance and Administration who shall withhold all future payments to the county of homestead exemption reimbursements under Section 27-33-77 and all sums allocated to the county or the municipality under Section 27-65-75 until such time as the county or the municipality is again current in its loan payments as certified by the Mississippi Development Authority.

(5) Evidences of indebtedness which are issued pursuant to this chapter shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties.

(6) The Mississippi Development Authority may, on a case-by-case basis, renegotiate the payment of principal and interest on loans made under this chapter to the six (6) most southern counties of the state covered by the Presidential Declaration of Major Disaster for the State of Mississippi (FEMA-1604-DR) dated August 29, 2005, and to incorporated municipalities located in such counties; however, the interest on the loans shall not be forgiven for a period of more than twenty-four (24) months and the maturity of the loans shall not be extended for a period of more than forty-eight (48) months.
Miss. Code Ann. § 57-83-1 — MS Code / Title 57 / Chapter 63 / Section 83-1
Miss. Code Ann. § 57-83-1
Status: in_force

The President of the Senate and the Speaker of the House of Representatives shall each appoint three (3) members of their respective legislative houses to serve as members of the Mississippi Technology, Inc., Liaison Committee. The members of such committee shall be entitled (a) to attend meetings of the Mississippi Technology, Inc., Board of Directors, (b) to receive all budgets, reports, audits and all financial and other information distributed to the directors of Mississippi Technology, Inc., (c) to meet and confer with the directors and staff of Mississippi Technology, Inc., and (d) to perform such other activities as may be necessary or proper in discharging their responsibilities of liaison with their respective houses of the Legislature. The members of the liaison committee shall have no jurisdiction or vote on any matter within the jurisdiction of Mississippi Technology, Inc. The members of the committee shall prepare and submit an annual report to the Legislature no later than December 15 of each calendar year setting forth the activities and financial condition of Mississippi Technology, Inc., and their perspective and comments on the activities of Mississippi Technology, Inc. The report shall also contain recommendations regarding policy or legislative changes for consideration by the Legislature. The members of the Mississippi Technology, Inc., Liaison Committee shall be bound by the same limitations as to confidentiality of information regarding products, processes or the internal affairs of private businesses, as are imposed upon the officers and directors of Mississippi Technology, Inc. When the Legislature is not in session, members shall be paid per diem and all actual and necessary expenses, including mileage expenses, from their respective contingent expense funds at the rate authorized for committee meetings when the Legislature is not in session; however, no per diem and expenses will be paid when the Legislature is in session. The terms of the members of the liaison committee shall expire at the end of their terms of office.
Miss. Code Ann. § 57-10-527 — MS Code / Title 57 / Chapter 9 / Section 10-527
Miss. Code Ann. § 57-10-527
Status: in_force

(1) Whenever bonds are issued, they shall be offered for sale at not less than par value and accrued interest and shall be sold by the seller at public or private sale, from time to time, in such manner and at such price as may be determined by the seller to be most advantageous.

(2) Any portion of any bond issue so offered and not sold or subscribed for at public sale may be disposed of by private sale by the seller in such manner and at such prices not less than par and accrued interest, as the seller shall direct.

(3) When bonds are issued from time to time, the bonds of each issue shall constitute a separate series to be designated by the seller or may be combined for sale as one (1) series with other general obligation bonds of the State of Mississippi.

(4) Until permanent bonds can be prepared, the seller may in its discretion issue, in lieu of permanent bonds, temporary bonds in such form and with such privileges as to registration and exchange for permanent bonds as may be determined by the seller.

(5) Pending their application to the purposes authorized, bond proceeds held or deposited by the State Treasurer may be invested or reinvested as are other funds in the custody of the State Treasurer in the manner provided by law. All earnings received from the investment or deposit of such funds shall be paid into the State Treasury to the credit of the Mississippi Small Business Assistance Fund.

(6) The State Treasurer shall prepare the necessary registry book to be kept in the office of the duly authorized loan and transfer agent of the state for the registration of any bonds, at the request of owners thereof, according to the terms and conditions of issue directed by the seller.

(7) All costs and expenses in connection with the issue of and sale and registration of the bonds and notes in connection with this article, and all costs and expenses in connection with implementation of the program and development of application forms, procedures and requirements for use in connection with the program may be paid from the proceeds of bonds and notes issued under this article.

(8) The seller may provide in the resolution authorizing the issuance of such bonds for the employment of one or more persons or firms to assist in the sale of the bonds; to enter into contracts with financial institutions located either within or without the State of Mississippi to act as registrar, paying agents, transfer agents or otherwise; for rating of the bonds; and to purchase insurance.
Miss. Code Ann. § 57-31-19 — MS Code / Title 57 / Chapter 7 / Section 31-19
Miss. Code Ann. § 57-31-19
Status: in_force

Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt of such county or a pledge of the faith and credit of such county, but such bonds shall be payable solely from the special fund provided therefor as hereinafter set forth, and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the county to levy or pledge any form of taxation whatever therefor, and all such bonds shall contain recitals on their face substantially covering the foregoing provisions of this section.
Miss. Code Ann. § 57-62-3 — MS Code / Title 57 / Chapter 1 / Section 62-3
Miss. Code Ann. § 57-62-3
Status: in_force

It is the intent of the Legislature that:

(a) The State of Mississippi provide appropriate incentives to support the establishment of quality business and industry that hold the promise of significant development of the economy of the State of Mississippi through the creation of quality jobs;

(b) The amount of incentives provided under this chapter in connection with a particular establishment shall be directly related to the jobs created as a result of the establishment locating in the State of Mississippi;

(c) The Mississippi Development Authority and the Department of Revenue shall implement the provisions of this chapter and exercise all powers as authorized in this chapter; however, the application of this chapter or the offering of any of its incentives as to any particular qualified business or industry shall be in the sole discretion of the Mississippi Development Authority. The exercise of powers conferred by this chapter shall be deemed and held to be the performance of essential public purposes; and

(d) Nothing in this chapter shall be construed to constitute a guarantee or assumption by the State of Mississippi of any debt of any individual, company, corporation or association nor to authorize the credit of the State of Mississippi to be given, pledged or loaned to any individual, company, corporation or association. Also, nothing in this chapter gives any right to any qualified business or industry to the incentives contained herein unless said incentive is given by the Mississippi Development Authority pursuant to this chapter.
Miss. Code Ann. § 57-61-14 — MS Code / Title 57 / Chapter 4 / Section 61-14
Miss. Code Ann. § 57-61-14
Status: in_force

In accordance with Section 27-65-111 , purchases of tangible personal property or services by a private company, as defined in this chapter, with proceeds of bonds issued under this chapter, shall be exempt from sales tax.
Miss. Code Ann. § 57-77-15 — MS Code / Title 57 / Chapter 64 / Section 77-15
Miss. Code Ann. § 57-77-15
Status: in_force

The Magnolia Capital Corporation shall make application for a loan to the department in a form satisfactory to the department.
Miss. Code Ann. § 57-55-13 — MS Code / Title 57 / Chapter 11 / Section 55-13
Miss. Code Ann. § 57-55-13
Status: in_force

(1) The Mississippi Polymer Institute, hereinafter referred to as the MPI, is hereby established under the management and control of the board of trustees of state institutions of higher learning. The principal offices of the MPI shall be located at the University of Southern Mississippi and shall be under the direction of the president and such other administrative authorities within the university as the board of trustees may determine.

(2) It shall be the function of the MPI to conduct and sponsor research of interest to the polymer industries of the state, and to disseminate research results and other information of interest to appropriate individuals and research agencies for whom such knowledge will be helpful, and to the Mississippi polymer industries by conducting and sponsoring short courses, seminars and symposia. Said research shall be designed to increase the utilization of Mississippi raw materials in polymers and to support the rapidly growing polymer industry. Data from applications research will be released to appropriate Mississippi research agencies and industries for appropriate utilization. The MPI shall be organized to coordinate polymer research, planning and development with the appropriate disciplines in other institutions of higher learning and other state, federal and private agencies concerned with the development of Mississippi's polymer industry.
Miss. Code Ann. § 57-119-11 — MS Code / Title 57 / Chapter 69 / Section 119-11
Miss. Code Ann. § 57-119-11
Status: in_force

(1) MDA is further authorized, on such terms and conditions consistent with the criteria set forth in this section as it may determine, to establish programs for making loans, loan guarantees, grants and any other financial assistance from the GCRF to applicants whose projects are approved for assistance under this section. MDA shall establish criteria, rules and procedures for accepting, reviewing, granting or denying applications, and for terms and conditions of financial assistance under this section in accordance with state law. The Legislature shall appropriate monies from the GCRF to the MDA to fund the programs established under this section in an amount requested annually by MDA for such purpose.

(2) Applicants who are eligible for assistance under this section include, but are not limited to, local units of government, nongovernmental organizations, institutions of higher learning, community colleges, public schools, ports, airports, public-private partnerships, private for-profit entities, private nonprofit entities, and local economic development entities.

(3) MDA shall establish programs and an application process to provide assistance to applicants under this section that prioritize:

(a) Projects that will impact the long-term competitiveness of the region and may result in a significant positive impact on tax base, private sector job creation and private sector investment in the region;

(b) Projects that demonstrate the maximum long-term economic benefits and long-term growth potential of the region based on a financial analysis such as a cost-benefit analysis or a return-on-investment analysis;

(c) Projects that demonstrate long-term financial sustainability, including clear performance metrics, over the duration of the project;

(d) Projects that leverage or encourage leveraging of other private sector, local, state and federal funding sources with preference to projects that can demonstrate contributions from other sources than funds from the BP settlement;

(e) Projects that are supported by multiple government or private sector entities;

(f) Projects that can move quickly and efficiently to the design, engineering, and permitting phase;

(g) Projects that enhance the quality of life/place and business environment of the region, including tourism and recreational opportunities;

(h) Projects that expand the region's ability to attract high-growth industries or establish new high-growth industries in the region;

(i) Projects that leverage or further enhance key regional assets, including educational institutions, research facilities, ports, airports, rails and military bases;

(j) Projects that are transformational for the future of the region but create a wider regional impact;

(k) Projects that enhance the marketability of existing industrial properties;

(l) Projects that enhance a targeted industry cluster or create a Center of Excellence unique to the region;

(m) Infrastructure projects for business retention and development;

(n) Projects that enhance research and innovative technologies in the region; and

(o) Projects that provide outcome and return on investment measures, to be judged by clear performance metrics, over the duration of the project or program.

(4) The MDA shall not approve any application for assistance or provide any assistance under this section for projects that are medical cannabis establishments as defined in the Mississippi Medical Cannabis Act or for projects related in any manner to medical cannabis establishments.
Miss. Code Ann. § 57-31-15 — MS Code / Title 57 / Chapter 3 / Section 31-15
Miss. Code Ann. § 57-31-15
Status: in_force

The proceeds of such bonds shall be paid into the county treasury to the credit of a special fund known as the industrial development authority construction fund, and shall be used solely for payment of the cost of the project except as hereinafter provided, and shall be disbursed upon order of the authority upon such restrictions, if any, as the resolution authorizing the issuance of the bonds may provide. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which the bonds were issued, the surplus shall be paid into the fund established for the payment of the principal of and the interest on such bonds.
Miss. Code Ann. § 57-1-73 — MS Code / Title 57 / Chapter 1 / Section 1-73
Miss. Code Ann. § 57-1-73
Status: in_force

Should the certificate of public convenience and necessity be issued by the Mississippi Agricultural and Industrial Board the governing authority of such municipality shall call an election in the municipality and in the territory outside the municipality in the manner and method for calling, conducting and holding elections provided in Section 57-1-25 , and should two-thirds of the qualified electors residing in the municipality and voting in the election, and two-thirds of the qualified electors residing in the territory outside the municipality forming a part of the municipal separate school district of which such territory and municipality are a part and voting in the election, vote in favor of the enterprise, such municipal separate school district including the municipality shall be deemed a municipality within the meaning of Sections 57-1-1 through 57-1-51 , and shall have all rights, powers and authority to act by and through the governing authority of such municipality granted to municipalities as defined in Sections 57-1-1 through 57-1-51 and by said sections.
Miss. Code Ann. § 57-39-43 — MS Code / Title 57 / Chapter 13 / Section 39-43
Miss. Code Ann. § 57-39-43
Status: in_force

(1) There is created in the State Treasury a fund to be designated as the “Mississippi Oil Overcharge Fund,” referred to in this section as “fund.” Monies in the fund, referred to in this section as “oil overcharge funds,” may be used for projects or programs authorized in accordance with appropriate federal court orders regarding the use of oil overcharge funds or by the United States Department of Energy, or both.

(2) The Treasurer shall deposit or transfer into the fund any funds received as a result of federal statute or administrative or regulatory actions requiring the disbursement to states of refund monies for alleged overcharges for crude oil or refined petroleum products. The Treasurer may establish accounts within the fund as necessary for management of monies in the fund.

(3) Expenditures may be made from the fund upon requisition to the Treasurer by the Executive Director of the Department of Economic and Community Development or the Executive Director of the Department of Human Services.

(4) The fund shall be treated as a special trust fund. Interest earned on the principal in the fund shall be credited by the Treasurer to the fund.

(5) In their annual budget request, the Department of Economic and Community Development and the Department of Human Services shall submit a list of projects or programs for which monies from the fund are requested to be used.
Miss. Code Ann. § 57-5-15 — MS Code / Title 57 / Chapter 4 / Section 5-15
Miss. Code Ann. § 57-5-15
Status: in_force

If and when the certificate is issued, the board therein shall fix and determine: (1) The extent and the amount to which the municipality may issue bonds or make expenditures for such development; (2) what property may be acquired therefor; (3) the terms upon which such acquisition may be had; (4) what expenditures may be made to properly develop said property into a “standard” industrial park or district; and, (5) the method of operation of said industrial park by the municipality.
Miss. Code Ann. § 57-99-9 — MS Code / Title 57 / Chapter 64 / Section 99-9
Miss. Code Ann. § 57-99-9
Status: in_force

The MDA and the State Tax Commission shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, and all application forms and other forms necessary to implement their respective duties and responsibilities under the provisions of Sections 57-99-1 through 57-99-9 .
Miss. Code Ann. § 57-31-7 — MS Code / Title 57 / Chapter 15 / Section 31-7
Miss. Code Ann. § 57-31-7
Status: in_force

The industrial development authority of the county created under the provisions of this chapter is hereby authorized to receive and expend funds from the board of supervisors of such county.
Miss. Code Ann. § 57-34-3 — MS Code / Title 57 / Chapter 13 / Section 34-3
Miss. Code Ann. § 57-34-3
Status: in_force

The Legislature hereby finds and declares the following:

(a) There exists in the State of Alabama and in the State of Mississippi a continuing need for gainful employment for the citizens of both states.

(b) There are significant advantages that will be realized from a cooperative approach between the two (2) states with respect to economic development of the area in each state along the border of the State of Alabama and the State of Mississippi.

(c) In order to increase the gainful employment opportunities of the citizens of both states residing in such area, the Alabama-Mississippi Joint Economic Development Authority is hereby created with the purpose of securing the location of major economic impact projects within the area along the border of the State of Alabama and the State of Mississippi.

(d) In order to accomplish this purpose, the authority shall be authorized by this agreement and by operation of other appropriate statutes, to act by cooperative endeavor with the State of Alabama, the State of Mississippi and with agencies and persons with such states to secure the economic development and welfare of the region.
Miss. Code Ann. § 57-44-35 — MS Code / Title 57 / Chapter 10 / Section 44-35
Miss. Code Ann. § 57-44-35
Status: in_force

The proceeds of the bonds issued under Sections 57-44-11 through 57-44-39 shall be used solely for the purposes herein provided, including the costs incident to the issuance and sale of such bonds.
Miss. Code Ann. § 57-61-32 — MS Code / Title 57 / Chapter 27 / Section 61-32
Miss. Code Ann. § 57-61-32
Status: repealed

(1) Notwithstanding any provision of this chapter to the contrary, the Commission on Wildlife, Fisheries and Parks shall certify to the department the amount of money necessary to defray the cost of the state's share in constructing the Bob Tyler Fish Hatchery that is located in North Mississippi, which amount shall not be more than Four Million Dollars ($4,000,000.00); and the department shall, if funds have not otherwise been made available, provide a grant for such amount out of the proceeds of bonds issued under this chapter. Of the funds provided hereunder, any amounts not expended on the fish hatchery shall be remitted to the department for deposit into the Mississippi Business Investment Sinking Fund.

The private match requirements of Section 57-61-9(2)(d), Mississippi Code of 1972 , shall not apply to any loan or grant made under this section.

(2) [Repealed]
Miss. Code Ann. § 57-32-11 — MS Code / Title 57 / Chapter 30 / Section 32-11
Miss. Code Ann. § 57-32-11
Status: in_force

Any revenues or proceeds derived from property purchased or acquired by the council with funds given or delivered to the council for a specific purpose shall be used exclusively for industrial development in the contributing county. Such funds shall not be commingled with other funds of the council, but shall be kept and expended solely for industrial development within the county specified, for the retirement of indebtedness on industrial property in such county. Once the indebtedness on any property acquired by the council with funds specified to be used in a certain county has been paid in full, the council shall execute a deed to such property to said county upon request to do so by resolution duly adopted by the board of supervisors of said county. In the absence of such request from the board of supervisors of such county the council shall continue to maintain the proceeds or revenues derived from such property in the separate fund to be used for industrial development exclusively within such county furnishing said funds.
Miss. Code Ann. § 57-46-1 — MS Code / Title 57 / Chapter 25 / Section 46-1
Miss. Code Ann. § 57-46-1
Status: in_force

(1)(a) There is created a special fund in the State Treasury to be known as the Mississippi Railroad Improvements Fund which shall consist of monies from any source designated for deposit into the fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be disbursed by the Mississippi Development Authority (MDA) for the purposes authorized in subsection (2) of this section.

(b) Monies in the fund that are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the MDA in providing grants under this section through the use of general obligation bonds. An accounting of actual costs incurred for which reimbursement is sought shall be maintained for each grant by the MDA. Reimbursement of reasonable actual and necessary costs for assistance shall not exceed three percent (3%) of the proceeds of bonds issued for such assistance. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements.

(2) The MDA shall establish a program to make grants to short line railroads from the Mississippi Railroad Improvements Fund to assist in paying a portion of the costs associated with the repair, rehabilitation, construction, reconstruction, upgrading and improvement of railroad lines and related facilities, including projects necessary to ensure safety and structural integrity of rail lines, rail beds and bridges.

(3)(a) A short line railroad desiring a grant under this section shall submit an application to the MDA which shall include, at a minimum:

(i) A description, including the cost, of the requested assistance;

(ii) A description of the purpose for which the assistance is requested; and

(iii) Any other information required by the MDA.

(b) The MDA shall have sole discretion in providing grants under this section. The terms of a grant shall be within the discretion of the MDA.

(4) The MDA shall have all powers necessary to implement and administer the program established under this section, including the establishing of requirements for matching funds and criteria regarding the evaluation of applications for assistance. The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation and administration of this section.
Miss. Code Ann. § 57-28-5 — MS Code / Title 57 / Chapter 5 / Section 28-5
Miss. Code Ann. § 57-28-5
Status: in_force

(1) The MDA shall develop, implement and administer the incentive program authorized in Sections 57-28-1 through 57-28-5 and shall promulgate rules and regulations necessary for the development, implementation and administration of such program.

(2) A person, corporation or other entity desiring to participate in the incentive program authorized in Sections 57-28-1 through 57-28-5 must submit an application to the MDA. Such application must contain (a) plans for the proposed tourism project; (b) a detailed description of the proposed tourism project; (c) the method of financing the proposed tourism project and the terms of such financing; and (d) any other information required by the MDA. An application must be submitted no later than June 1, 2017. The Executive Director of the MDA shall review the application and determine if it qualifies as a tourism project. If the executive director determines the proposed tourism project qualifies as a tourism project, he shall issue a certificate to the person, corporation or other entity designating such person, corporation or other entity as an approved participant and authorizing the approved participant to participate in the incentive program provided for in Sections 57-28-1 through 57-28-5 .

(3) If a person, entity or other person submits an application to the MDA to participate in the incentive program authorized in Sections 57-28-1 through 57-28-5 , a gaming license may not be issued by the state for any establishment located in the project site.
Miss. Code Ann. § 57-61-33 — MS Code / Title 57 / Chapter 33 / Section 61-33
Miss. Code Ann. § 57-61-33
Status: in_force

Notwithstanding any provision of this chapter to the contrary, the Bureau of Building, Grounds and Real Property Management of the Governor's Office of General Services shall certify to the Board of Economic Development the amount of money necessary to complete the construction, furnishing and equipping of the Technology Transfer Center at the National Space Technology Laboratory site in Hancock County, which amount shall not be more than Three Million Two Hundred Thousand Dollars ($ 3,200,000.00), and the board shall if funds have not otherwise been made available provide a grant to the bureau for such amount out of the proceeds of bonds authorized to be issued under this chapter. Any funds remaining unexpended upon completion of such project shall be deposited in the Mississippi Business Investment Sinking Fund.
Miss. Code Ann. § 57-55-23 — MS Code / Title 57 / Chapter 11 / Section 55-23
Miss. Code Ann. § 57-55-23
Status: in_force

The institutions established by this chapter may, subject to approval of the proper administrative authorities at the various universities, perform research and other services consistent with the purpose and duties of the institutes, on a contractual basis for governmental entities, public or private organizations, or any others, at a price and on a basis to be determined by such universities. The proceeds from such work shall be used, in addition to other funds provided therefor, for the operation and support of the research institutions.
Miss. Code Ann. § 57-55-5 — MS Code / Title 57 / Chapter 10 / Section 55-5
Miss. Code Ann. § 57-55-5
Status: in_force

(1) In order to promote the orderly modernization and simplification of the law of the state and more complete utilization of the law resources of this state, the Mississippi Law Research Institute, hereafter referred to as MLRI, is hereby established as an official advisory law revision, research and reform agency of the state of Mississippi under the management and control of the board of trustees of state institutions of higher learning as an academic department of the University of Mississippi Law Center.

(2) The general purpose of the MLRI shall be to promote and encourage the clarification and simplification of the law of Mississippi, to improve the administration of justice, and to carry on scholarly legal research in anticipation of legal requirements for the efficient utilization and conservation of the natural resources of the state and the promotion of social, agricultural, industrial and commercial development. To that end it shall be the duty of said institute (a) to consider needed improvements in both substantive and adjective law and to make recommendations concerning same to the legislature; (b) to examine and study the law of Mississippi and Mississippi jurisprudence with the object of discovering defects and inequities and of recommending needed reforms; (c) to receive and consider suggestions from judges, justices, public officials, lawyers and the public generally as to defects and anachronisms in the law; (d) to recommend from time to time such changes in the law as it deems necessary to reform or eliminate antiquated and inequitable rules of law and to bring the law of the state, both civil and criminal, into harmony with modern conditions; (e) to perform research and prepare reports on matters of law in support of the legislature; (f) to advise and assist local governments, state agencies and associations by performing law research and preparation of related material, such as statutes and ordinances, reports, manuals, handbooks, codes, and conducting courses of instruction for the more efficient application of law and utilization of governmental resources; and (g) to prepare and publish texts and other scholarly works on law and procedure to aid in the administration of government within the state. In addition, the MLRI in cooperation with the legislature and its staff shall devise and carry out a plan for continuous and comprehensive improvement in the utility and quality of the Mississippi Code. The MLRI shall coordinate its efforts with the work of the American Law Institute, National Conference of Commissioners on Uniform State Laws, the law and government institutes of the several states, and other such organizations in aid of the mission of said institute.
Miss. Code Ann. § 57-61-11 — MS Code / Title 57 / Chapter 61 / Section 61-11
Miss. Code Ann. § 57-61-11
Status: in_force

The Mississippi Development Authority shall establish such guidelines, rules and regulations for the repayment of funds loaned pursuant to this chapter as may be necessary. These provisions shall include, but not be limited to, the following:

(a) Funds may be loaned for a maximum of ten (10) years or the estimated useful life of the property as established by the United States Department of Treasury, whichever is greater.

(b) The rate of interest charged by the Mississippi Development Authority for improvements not on publicly owned property may be negotiated by the Mississippi Development Authority.

(c) For all improvements funded through this chapter which occur on publicly owned property, repayment of funds loaned may, in the discretion of the Mississippi Development Authority, involve only the principal amount loaned with no interest charged thereon.

(d) An audit by a certified public accountant of all costs of a project hereunder must be submitted to the Mississippi Development Authority not later than ninety (90) days after a project's completion. Such an audit shall certify that all of the funds loaned or granted pursuant to this chapter were disbursed in accordance with the terms of this chapter and shall be paid for by the private company benefited by the project. In addition to the audit required under this paragraph, the State Auditor may conduct performance and compliance audits under this chapter according to Section 7-7-211(o) and may bill the oversight agency.

(e) Notwithstanding the foregoing, in the case of an application under Section 57-61-9(5)(a) , the guidelines shall include, but not be limited to, the following:

(i) Funds may be loaned for a maximum of twenty (20) years, or the estimated useful life of improvements on the land areas of the port, whichever is greater.

(ii) The rate of interest charged by the Mississippi Development Authority for loans for port projects may be negotiated by the Mississippi Development Authority and shall be consistent with Section 57-61-11(b) and (c) .

(iii) The total of grants and loans to any one (1) state-owned port made pursuant to an application under Section 57-61-9(5)(a) shall not exceed Twenty Million Dollars ($ 20,000,000.00).

(iv) Before any loan or grant may be made under Section 57-61-9(5)(a) to a state-owned port bordering the Gulf of Mexico, the applicant shall make adequate assurance to the Mississippi Development Authority that federal participation in the cost of the project or projects has been committed contingent only upon availability of local participation in accordance with federal guidelines.

(v) Notwithstanding any provision of this chapter to the contrary, the Mississippi Development Authority shall utilize not more than Four Million Dollars ($ 4,000,000.00) out of the proceeds of bonds authorized to be issued in this chapter to be made available as interest-bearing loans to state-owned ports for the purpose of repairing, renovating, maintaining and improving the state-owned port. The Mississippi Development Authority shall establish an amortization schedule for the repayment of any loans made pursuant to this subparagraph. The state-owned port shall not spend any revenues for other purposes unless payments on the loan are being timely made according to the amortization schedule. The match requirements of this section and Section 57-61-9 shall not apply to any loan made pursuant to this subparagraph.

(f) Notwithstanding any provision of this chapter to the contrary, the Mississippi Development Authority shall utilize not more than Three Million Dollars ($ 3,000,000.00) out of the proceeds of bonds authorized to be issued in this chapter for the purpose of making loans to municipalities operating county-owned ports or municipally owned ports for the purpose of acquiring land, buildings and other improvements and for repairing, renovating, maintaining and improving such ports. The Mississippi Development Authority shall establish an amortization schedule for the repayment of any loans made pursuant to this paragraph (f). A municipality shall not spend any port revenues for other purposes unless payments on the loan are being timely made according to the amortization schedule.
Miss. Code Ann. § 57-25-9 — MS Code / Title 57 / Chapter 3 / Section 25-9
Miss. Code Ann. § 57-25-9
Status: in_force

Pursuant to article III(a) of Section 57-25-1 , the southern states energy board shall submit its budgets of estimated expenditures to the legislative budget office for presentation to the Legislature.
Miss. Code Ann. § 57-49-15 — MS Code / Title 57 / Chapter 11 / Section 49-15
Miss. Code Ann. § 57-49-15
Status: in_force

The board, the council and the committee shall serve as advocates on behalf of the citizens of this state before the federal department of energy and other federal agencies on matters related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste.
Miss. Code Ann. § 57-10-209 — MS Code / Title 57 / Chapter 1 / Section 10-209
Miss. Code Ann. § 57-10-209
Status: in_force

Upon receipt of a certificate of public convenience and necessity from the Executive Director of the Mississippi Department of Economic and Community Development, the company shall have the power to borrow money and to issue from time to time its bonds to pay the cost of the projects for which such bonds have been issued, including but not limited to the power to issue from time to time bonds to renew or to pay bonds, including the interest thereon. Whenever bonds can be refunded to obtain interest rates on refunding bonds which are lower than the interest rates on the bonds to be refunded it shall have the power to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund outstanding bonds. Refunding bonds may be sold and the proceeds applied to the purchase, redemption or payment of the bonds to be refunded, or exchanged for the bonds to be refunded. The company may undertake the financing of the cost of a project for an eligible business from the proceeds of its bonds by one or more of the following methods: (a) entering into a lease for the facilities of the eligible business being financed; (b) selling such facilities to the eligible business under a sales contract; (c) lending the proceeds of the sale of the bonds under a loan agreement with the eligible business; (d) entering into a loan to lenders transaction in the manner described in Section 57-10-227 ; or (e) entering into such other transaction or transactions as the company deems appropriate to accomplish the purposes of this article.
Miss. Code Ann. § 57-31-23 — MS Code / Title 57 / Chapter 9 / Section 31-23
Miss. Code Ann. § 57-31-23
Status: in_force

The revenues, rents, and earnings derived from any project, or any and all revenues, rents, and earnings received by the authority unless necessary for operation, maintenance or repair of the project or unless otherwise pledged and allocated, may be pledged and allocated by the authority to the payment of the principal of and interest on the revenue bonds of the authority as the resolution authorizing the issuance of the bonds may provide, and such pledge may include funds received from one or more or all sources and shall be set aside at regular intervals into a sinking fund, which sinking fund shall be pledged to and charged with the payment of:

(a) The interest upon such revenue bonds as such interest shall accrue.

(b) The principal of the bonds as the same shall become due.

(c) The necessary charges of the paying agent or paying agents for paying principal and interest of and on such bonds.

The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing any issue of revenue bonds. Subject to the provisions of the resolution authorizing the issuance of the bonds, surplus moneys in the sinking fund may be applied to the purchase or redemption of any of such bonds, and any such bonds so purchased or redeemed shall forthwith be cancelled and shall not again be issued.
Miss. Code Ann. § 57-43-11 — MS Code / Title 57 / Chapter 30 / Section 43-11
Miss. Code Ann. § 57-43-11
Status: in_force

The Executive Director of the Mississippi Department of Transportation, with the approval of the Mississippi Transportation Commission, may enter into agreements for the purposes of this chapter whereby the state shall provide, from the state portion of the funds available, not more than seventy-five percent (75%) of the amounts necessary to rehabilitate or improve a rail line or segment thereof which has been documented as being viable and cost-effective, provided at least twenty-five percent (25%) of the cost is provided by federal, local, user or railroad funds. The portion to be provided by local governmental agencies may be in the form of a loan from the Railroad Revitalization Fund, with repayment being made by a portion of the revenue derived from the improved line or by a pledge of certain other funds. Any loan shall be made at no interest, provided payments are made in accordance with the agreement. Any portion of a loan outstanding during any delinquency shall bear interest at the legal rate on the entire balance due. In the event that a loan made to a county or municipality has not been repaid or arrangements satisfactory to the Mississippi Transportation Department have not been made to repay the loan within a period of time after same is due and payable, as determined by the department, the department shall determine that there is a default, shall enter an order to that effect upon its official minutes, and send a certified copy of said order by certified mail, postage prepaid, to the chancery clerk or city clerk, as the case may be. If said default is not satisfied in full within thirty (30) days following notification of default by the department, the county or municipality, as the case may be, shall forfeit its right to receive reimbursement for homestead exemption until such time as its indebtedness has been discharged or arrangements to discharge said indebtedness satisfactory to the department have been made. Homestead exemption funds forfeited hereby shall, upon demand by the department made in writing upon the Mississippi State Tax Commission, be paid to the Mississippi Transportation Department and applied to the discharge of the obligation.
Miss. Code Ann. § 57-49-39 — MS Code / Title 57 / Chapter 13 / Section 49-39
Miss. Code Ann. § 57-49-39
Status: in_force

The board shall attempt to finance all of its expenses from monies received from the federal department of energy and other federal agencies and from gifts and grants received from other persons. Expenses of the council and committee members to attend meetings shall be reimbursed by the board from these funds at the rates set forth in Sections 57-49-7 and 57-49-11 .
Miss. Code Ann. § 57-49-33 — MS Code / Title 57 / Chapter 23 / Section 49-33
Miss. Code Ann. § 57-49-33
Status: in_force

The board shall submit any written agreement or modification or technical revision to an agreement negotiated under Section 57-49-29 , and approved by the board and approved by the federal department of energy or other federal agency, to the governor, through the council. The board shall submit with the agreement, modification or technical revision a written summary of the hearings held under Section 57-49-29 .
Miss. Code Ann. § 57-61-13 — MS Code / Title 57 / Chapter 1 / Section 61-13
Miss. Code Ann. § 57-61-13
Status: in_force

Grants for improvements on publicly owned property necessary to complete eligible projects, consistent with the criteria set forth in this chapter, shall be given preference in enterprise zones designated as such by the board in the case of a strategic investment or in those municipalities which are experiencing three (3) or more of the following problems:

(a) Twenty percent (20%) or more of the population with income below the poverty level as reported in the most recent federal decennial census.

(b) The unemployment rate of the county is at least two percent (2%) greater than the state unemployment rate as reported by the Mississippi Employment Security Commission.

(c) Five percent (5%) or more loss of population between 1970 and 1980 as reported by the Bureau of the Census of the United States Department of Commerce.

(d) Significant business vacancy rate within the area, either in gross footage or acreage or in the number of business or industrial buildings.
Miss. Code Ann. § 57-123-7 — MS Code / Title 57 / Chapter 71 / Section 123-7
Miss. Code Ann. § 57-123-7
Status: in_force

(1) As used in this section, the following words and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:

(a) “ Destination marketing organization ” means:

(i) Special local governmental units created by local and private laws of the State of Mississippi for the purpose of tourism promotion, funded by special local tax levies, and staffed with professionals engaged in out-of-state tourism marketing and tourism product development for municipalities, counties and/or regions; or

(ii) Publicly-funded local organizations that engage in out-of-state tourism marketing and tourism development for municipalities, counties and/or regions.

(b) “ Marketing activities ” means multimedia marketing and advertising, including digital media, broadcast media and printed media, including travel publications, production, travel market sector analysis, consumer travel sentiment, public relations, communication strategy, direct sales bookings, group tour bookings, tourism development and administrative costs to execute marketing activities related to the business disruption effects of the Coronavirus Disease 2019 as expressed in Section 1 of this act.

(2)(a) The Department of Finance and Administration shall establish a program for the purpose of providing funds to assist destination marketing organizations in paying costs for marketing activities as provided in this section. Monies disbursed by the Department of Finance and Administration under this section shall be disbursed in compliance with all requirements and/or conditions on funds appropriated from the Coronavirus State Fiscal Recovery Fund for the program established under this section. The Department of Finance and Administration shall determine, in conjunction with the destination marketing organizations, the allocation of funds under this section and shall disburse funds as follows:

(i) Not more than Nine Million Four Hundred Twenty-seven Thousand Five Hundred Fifty-seven Dollars ($9,427,557.00) of such monies shall be allocated to destination marketing organizations in a manner that will provide monies to a destination marketing organization in an amount equal to seventy-five percent (75%) of the destination marketing organization's marketing and advertising expenditures during the 2019 fiscal year, and

(ii) Not more than Twenty Million Five Hundred Seventy-two Thousand Four Hundred Forty-three Dollars ($20,572,443.00) of such monies shall be allocated to destination marketing organizations based on the proportion that a destination marketing organization's contribution toward total tourism visitors in the state according to the 2019 Fiscal Year Visit Mississippi Visitors Profile Report bears to all destination marketing organizations' contributions toward total tourism visitors in the state according to the 2019 Fiscal Year Visit Mississippi Visitors Profile Report. However, a destination marketing organization shall not receive an amount less than Two Hundred Fifty Thousand Dollars ($250,000.00) under this subparagraph (ii).

(b) Within fifteen (15) days after the effective date of this act, the Department of Finance and Administration shall distribute the funds allocated under paragraph (a) of this subsection (2) to eligible destination marketing organizations. Before receiving funds under this subsection (2), a destination marketing organization must certify to the Department of Finance and Administration that:

(i) The funds will only be used for marketing activities, and

(ii) The destination marketing organization will comply with applicable federal and state regulations and requirements related to American Rescue Plan Act funds, and

(iii) The destination marketing organization will obligate all funds by December 31, 2024, and fully expend all funds by December 31, 2026.

(c) Destination marketing organizations receiving funds under this subsection (2) shall keep and maintain records related to expenditures. Destination marketing organizations receiving funds under this subsection (2) shall also track impacts of their marketing activities through special levy tax receipts, hotel occupancy indicators, other tourism industry metrics, and analytics from marketing campaigns, as appropriate. Such destination marketing organizations shall provide semi-annual reports on expenditures and economic impacts of their marketing activities to the Department of Finance and Administration, the Governor, the Lieutenant Governor, the Speaker of the House of Representatives and the Department of Audit.

(d) Subject to applicable purchasing laws, destination marketing organizations will give preference, when available and practical, to Mississippi-based companies for any new contracts entered into for marketing activities.

(3) The Department of Finance and Administration and the Department of Audit shall have all powers necessary for the implementation of this section.
Miss. Code Ann. § 57-32-9 — MS Code / Title 57 / Chapter 9 / Section 32-9
Miss. Code Ann. § 57-32-9
Status: in_force

Any county electing to designate a specific portion of the levy authorized by this chapter to industrial development within such county may also pledge to continue to levy an assessment, not in excess of three-fourths ( 3 / 4 ) mill, against all of the assessed property in said county for a period of time no longer than twenty (20) years, in order to further secure any indebtedness of the council incurred pursuant to the granted authority under Section 57-32-5 . Once the board of supervisors of any county has so pledged to levy such millage, not in excess of three-fourths ( 3 / 4 ) mill, the county shall be obligated to continue such levy until the indebtedness of the council for which the levy was pledged under the authority of this chapter has been paid in full, but in no case shall such levy continue in force longer than twenty (20) years. No county shall be obligated to continue any levy to pay off any indebtedness of the council the board of supervisors of such county, by appropriate order, shall have approved the borrowing of such money by the council for a specific purpose and shall have pledged to levy such assessment, not in excess of three-fourths ( 3 / 4 ) mill, for such specific indebtedness of the council.
Miss. Code Ann. § 57-123-9 — MS Code / Title 57 / Chapter 69 / Section 123-9
Miss. Code Ann. § 57-123-9
Status: in_force

(1) The Department of Finance and Administration shall establish a program for the purpose of providing assistance to Mississippi nonprofit museums as provided in this section. Monies disbursed by the Department of Finance and Administration under this section shall be disbursed in compliance with all requirements and/or conditions on funds appropriated from the Coronavirus State Fiscal Recovery Fund for the program established under this section. The Department of Finance and Administration shall disburse funds under this section to nonprofit museums located in municipalities with a population of not more than fifty thousand (50,000) according to the latest federal decennial census to assist in paying costs associated with advertising and other forms of promoting and publicizing nonprofit museums and museum related activities, and repairs and renovations of and upgrades and improvements to such museums for health and safety purposes related to the Coronavirus Disease 19. Of the monies disbursed by the Department of Finance and Administration under this section, twenty-five percent (25%) of such monies shall be used to provide assistance for requests for assistance of less than Three Hundred Thousand Dollars ($300,000.00); thirty-five percent (35%) of such monies shall be used to provide assistance for requests for assistance of Three Hundred Thousand Dollars ($300,000.00) or more but less than Seven Hundred Thousand Dollars ($700,000.00) and forty percent (40%) of such monies shall be used to provide assistance for requests for assistance of Seven Hundred Thousand Dollars ($700,000.00) or more. A museum desiring assistance under this section must submit an application to the Department of Finance and Administration. The application must include a description of the purposes for which the assistance is requested, the amount of the assistance requested and any other information required by the department.

(2) The Department of Finance and Administration shall have all powers necessary for the implementation of this section.
Miss. Code Ann. § 57-55-19 — MS Code / Title 57 / Chapter 28 / Section 55-19
Miss. Code Ann. § 57-55-19
Status: in_force

The said board of trustees shall provide for such housing, equipment, personnel, supplies and services as it shall determine to be necessary for the proper operation and maintenance of the research institutions established by this chapter, having due regard for the contributory facilities and programs already existing at the various universities. In addition to appropriations made by the Mississippi legislature for the operation and support of the research institutions, the said board of trustees is authorized and empowered to receive contributions, donations, gifts and grants of money or other income and/or property, equipment, materials or manpower from persons, foundations, trust funds, corporations, organizations and other sources, to be expended by said board in carrying out the objectives of this chapter.
Miss. Code Ann. § 57-44-29 — MS Code / Title 57 / Chapter 29 / Section 44-29
Miss. Code Ann. § 57-44-29
Status: in_force

Any holder of bonds issued under the provisions of Sections 57-44-11 through 57-44-39 or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights granted under Sections 57-44-11 through 57-44-39 , or under such resolution, and may enforce and compel performance of all duties required by Sections 57-44-11 through 57-44-39 to be performed, in order to provide for the payment of bonds and interest thereon.
Miss. Code Ann. § 57-18-9 — MS Code / Title 57 / Chapter 7 / Section 18-9
Miss. Code Ann. § 57-18-9
Status: in_force

In addition to appropriations made by the Legislature from the State General Fund, the Forest and Wildlife Research Center is authorized and empowered, subject to the approval of the Board of Trustees of State Institutions of Higher Learning upon recommendation by the President of Mississippi State University, to receive contributions, donations, gifts and grants of money and/or property, equipment, materials and manpower from persons, foundations, trust funds, corporations, organizations, and state and federal agencies for use in carrying out the purposes and objectives of this chapter.
Miss. Code Ann. § 57-61-19 — MS Code / Title 57 / Chapter 46 / Section 61-19
Miss. Code Ann. § 57-61-19
Status: in_force

No loan shall be made to a municipality under this chapter unless the municipality certifies to the department, in a form satisfactory to the department, that it shall not discriminate against any employee or against any applicant for employment because of race, religion, color, national origin, sex or age.
Miss. Code Ann. § 57-49-33 — MS Code / Title 57 / Chapter 3 / Section 49-33
Miss. Code Ann. § 57-49-33
Status: in_force

The board shall submit any written agreement or modification or technical revision to an agreement negotiated under Section 57-49-29 , and approved by the board and approved by the federal department of energy or other federal agency, to the governor, through the council. The board shall submit with the agreement, modification or technical revision a written summary of the hearings held under Section 57-49-29 .
Miss. Code Ann. § 57-55-19 — MS Code / Title 57 / Chapter 26 / Section 55-19
Miss. Code Ann. § 57-55-19
Status: in_force

The said board of trustees shall provide for such housing, equipment, personnel, supplies and services as it shall determine to be necessary for the proper operation and maintenance of the research institutions established by this chapter, having due regard for the contributory facilities and programs already existing at the various universities. In addition to appropriations made by the Mississippi legislature for the operation and support of the research institutions, the said board of trustees is authorized and empowered to receive contributions, donations, gifts and grants of money or other income and/or property, equipment, materials or manpower from persons, foundations, trust funds, corporations, organizations and other sources, to be expended by said board in carrying out the objectives of this chapter.
Miss. Code Ann. § 57-10-111 — MS Code / Title 57 / Chapter 3 / Section 10-111
Miss. Code Ann. § 57-10-111
Status: in_force

The committee is authorized and empowered to prepare and promulgate reasonable rules, regulations and policies for applications for loans, credit instruments, and any and all other forms, rules, policies, regulations or procedures desirable in order to carry out the provisions of this article. The committee shall determine the amount of the guaranty fee to be paid under the provisions of this article, subject to the limitations set forth in Section 57-10-115 . Such guaranty fee payments shall be deposited in the guaranty fee fund. It shall also be the duty of the committee to formulate the policies to be administered by the manager under the provisions of this article. The function of the committee shall be that of policy-making and the functions of the manager shall be administrative.

In addition to the power and authority granted herein, the committee is hereby authorized to use any available funds in the small businessman's loan fund or the guaranty fee fund to be used for any authorized and legal purposes as contained in Sections 57-10-1 through 57-10-41 , irrespective and notwithstanding any limitations, restrictions or other provisions of this article.

It is the intent of this section and the 1982 and 1983 amendments to Article 1 and Article 3 of this chapter, that the small businessman's loan program and the Mississippi Economic Development Corporation program shall pool and combine the resources and efforts of each to make them more readily available to the needs of the small businessmen and women of this state.

However, in the event a loan is made to the Mississippi Economic Development Corporation or its successor, the maximum liability limit as expressed in Sections 57-10-115(3) and 57-10-133 shall automatically be reduced by an amount equal to five (5) times the amount of the loan.

The committee is hereby authorized and empowered to establish and put in effect reasonable terms and conditions on any and all such transfers to the corporation regarding repayment of any transfers and security therefor, if applicable, default provisions and annual reporting on the status of any transfer.
Miss. Code Ann. § 57-77-29 — MS Code / Title 57 / Chapter 75 / Section 77-29
Miss. Code Ann. § 57-77-29
Status: in_force

(1) There is hereby created a special fund in the State Treasury, to be known as the Venture Capital Fund, out of which loans to Magnolia Capital Corporation authorized in connection with the program shall be disbursed. All monies received by issuance of bonds to carry out the purposes of this chapter shall be deposited into the Venture Capital Fund. No funds in the Venture Capital Fund, no funds transferred from the Venture Capital Fund to the department for subsequent transfer to the Magnolia Capital Corporation, no funds transferred to the Magnolia Capital Corporation, and no funds transferred by the Magnolia Capital Corporation to the Magnolia Venture Capital Corporation and/or the Magnolia Venture Capital Fund Limited Partnership may be used to provide financing for, or to contract for goods or services with, any business in which a director, employee, or limited partner of the Magnolia Capital Corporation, the Magnolia Venture Capital Corporation or the Magnolia Venture Capital Fund Limited Partnership, or the spouse of any such director, employee or limited partner has a direct or indirect interest. No funds in the Venture Capital Fund, no funds transferred from the Venture Capital Fund to the department for subsequent transfer to the Magnolia Capital Corporation, no funds transferred to the Magnolia Capital Corporation, and no funds transferred by the Magnolia Capital Corporation to the Magnolia Venture Capital Corporation and/or the Magnolia Venture Capital Fund Limited Partnership may be used to provide financing for, or to contract for goods or services with, any business in which a person who has been engaged pursuant to Section 57-77-23 or the spouse of such person has a direct or indirect interest.

(2) All funds repaid to the State Treasury under this chapter or designated hereunder for repayment of any bonds issued under this chapter shall be delivered to the State Treasurer for deposit in the State General Fund. Any monetary assets received pursuant to Section 57-77-11(6)(a) shall be applied to pay the debt service on the bonds issued under the Venture Capital Act of 1994, in accordance with the proceedings authorizing the issuance of such bonds and as directed by the State Bond Commission. Any nonmonetary assets shall be administered in the manner provided by law. Any monies remaining in the fund after it is utilized as provided for in this subsection (2) shall be deposited into the State General Fund.

(3) Any monetary assets received pursuant to Section 57-77-11(6)(b) shall be applied to pay valid monetary obligations of the Magnolia Capital Corporation and the Magnolia Venture Capital Corporation. Any nonmonetary assets shall be administered in the manner provided by law. Any monies remaining in the fund after it is utilized as provided in this subsection (3) shall be deposited as follows: (a) Six Million Four Hundred Thousand Dollars ($ 6,400,000.00) of such monies shall be deposited into the State General Fund and (b) the remainder of such monies shall be deposited into the Budget Contingency Fund created in Section 27-103-301 .

(4) Valid monetary obligations of the Magnolia Capital Corporation and the Magnolia Venture Capital Corporation shall not be impaired and shall be satisfied from the special fund created in this section.
Miss. Code Ann. § 57-61-37 — MS Code / Title 57 / Chapter 9 / Section 61-37
Miss. Code Ann. § 57-61-37
Status: in_force

(1) Each municipality is hereby authorized and empowered to borrow money from the board pursuant to the terms and provisions of this chapter. Each municipality is further authorized and empowered to pay to the board such fees and charges for services hereunder as the board may prescribe.

(2) Each municipality is hereby authorized to evidence the borrowing of money from the board pursuant to this chapter by the issuance of evidences of indebtedness under the provisions of this section and to sell such evidences of indebtedness to the board to raise money for any purpose or purposes for which the board is authorized to loan money to such municipality under the terms of this chapter. Except as specifically provided in this chapter, such evidences of indebtedness shall be issued in accordance with the provisions of Sections 21-33-307, 21-33-309, 21-33-311, 21-33-313, 21-33-315, 21-33-317, 21-33-319, 21-33-321 and 21-33-323 in the case of cities or incorporated towns, and in accordance with the provisions of Sections 19-9-7, 19-9-9, 19-9-11, 19-9-13, 19-9-15, 19-9-17, 19-9-19, 19-9-21, 19-9-23, 19-9-25 and 19-9-29 in the case of counties. Bonds or other evidences of indebtedness which are issued either pursuant to this chapter, or pursuant to any other law as evidence of loans made pursuant to this chapter, shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties. The preceding sentence shall apply to all such bonds and evidences of indebtedness outstanding as of the effective date of this provision and to all such bonds and evidences of indebtedness hereafter issued.

(3) In connection with the issuance of evidences of indebtedness under the provisions of this chapter by cities, incorporated towns and counties, the following provisions shall specifically apply:

(a) When publishing notice of intent to issue bonds as required under the terms of Section 21-33-307 or Section 19-9-11 , as the case may be, the municipality shall publish such notice once a week for three (3) consecutive weeks, the first publication to be not less than twenty-one (21) days prior to the date set for authorizing such issuance and the last publication to be not more than seven (7) days prior to such date.

(b) Such evidences of indebtedness shall be secured: (i) by the revenues derived by the municipality from the ownership, operation or lease of the project or improvements funded with proceeds of the loan from the board to such municipality under the terms of this chapter or by loan repayments from the private company derived by the municipality from the loan to the private company of the proceeds of the loan from the board to such municipality under the terms of this chapter, but only to the extent, in whole or in part, pledged by the municipality, which pledge may be on a basis subordinate to other obligations or agreements of the municipality; (ii) by the sources of repayment provided for under the terms of subsections (7) and (8) of Section 57-61-15 of this chapter; (iii) and as provided by Chapter 33, Title 21, Mississippi Code of 1972 , in the case of cities and incorporated towns, and Chapter 9, Title 19, Mississippi Code of 1972 , in the case of counties but only in the event that the sources provided by items (i) and (ii) hereof are insufficient therefor. For the purposes of Section 27-39-321 , the evidences of indebtedness issued hereunder shall be deemed to be “general obligation bonds.”

(c) Such evidences of indebtedness may be sold only to the board at private sale and may be sold at such price or prices, in such manner and at such times as may be agreed to by the municipality and the board, and the municipality may pay all expenses, premiums, fees and commissions which it may deem necessary and advantageous in connection with the issuance and sale thereof and such evidences of indebtedness shall mature at such time or times not exceeding thirty (30) years and in such amounts and shall bear interest at such rate or rates as required for loans made under the provisions of this chapter and as may be agreed upon by the board and the municipality; provided, that in connection with financing a Navy home port, the municipality may obtain a letter of credit and pledge to the repayment thereof the same sources pledged to such evidences of indebtedness or negotiate and enter into a credit agreement, trust indenture or other agreement with any bank, trust company or other lending institution for the purpose of making or receiving any payments required to be made to the United States Navy to accommodate a Navy home port.

(d) The proceeds of such evidences of indebtedness shall be applied to the following: (i) the purpose for which such evidences of indebtedness were issued; (ii) the payment of all costs of issuance of such evidences of indebtedness; (iii) the payment of any fees and charges established by the board; (iv) the payment of interest on such evidences of indebtedness for a period of time not greater than the period of time estimated to be required to complete the purpose for which the evidences of indebtedness were issued or to the extent provided by resolution of the municipality and approved by the board; (v) the payment of any costs relating to obtaining or entering into a credit agreement, loan disbursement agreement, trust indenture or other agreement with any bank, trust company or other lending institution for the purpose of securing, making or receiving any payments required to be made to the United States Navy to accommodate a Navy home port.

(e) Evidences of indebtedness issued under this section may be validated in the manner and with the force and effect provided in Section 31-13-1 et seq.

(f) This section shall be deemed to provide an additional, alternate and complete method for the doing of the things authorized hereby and shall be deemed and construed to be supplemental to any provisions of any other laws and not in derogation of any such provisions. In connection with the issuance of evidences of indebtedness, a municipality shall not be required to comply with the provisions of any other law except as provided herein.
Miss. Code Ann. § 57-61-1 — MS Code / Title 57 / Chapter 57 / Section 61-1
Miss. Code Ann. § 57-61-1
Status: in_force

This chapter shall be known and may be cited as the Mississippi Business Investment Act.
Miss. Code Ann. § 57-4-23 — MS Code / Title 57 / Chapter 3 / Section 4-23
Miss. Code Ann. § 57-4-23
Status: in_force

The state participation shall be used only for the purposes of Title I, Public Works and Economic Development Act of 1965, as amended, and expenditures from the industrial development fund shall be used primarily for the development of industrial parks, exclusive of land purchases. If the board determines that such funds will serve a more useful purpose when expended for other purposes approved under said Title I, it shall have the authority to approve applications for such additional purposes and make contributions in accordance with the provisions of this chapter. Prior to the approval of any application for a purpose other than development of an industrial park, the board shall spread upon its minutes the reasons for its determination that the additional purpose will be a better use of the available funds.

No funds shall be expended from the fund for any projects other than those approved by the board, and only after such approval has been spread on the minutes of the board. In the event the board receives applications which would exceed the funds available, it shall approve those projects which appear to have the greatest potential for immediate benefit to the areas most in need of an improved economy.

No applicant shall receive a state contribution in excess of ten percent (10%) of the amount appropriated to the industrial development fund by the 1977 regular session of the Mississippi Legislature.
Miss. Code Ann. § 57-21-13 — MS Code / Title 57 / Chapter 4 / Section 21-13
Miss. Code Ann. § 57-21-13
Status: in_force

Administrative, technical, and support personnel of all divisions of the laboratory shall be employees of the Mississippi State Chemical Laboratory. However, all employees will have rights, privileges, and responsibilities pertaining thereto, including all fringe benefits available to the general university staff. Recommendations for appointment, discharge, salaries, duties, and position titles shall be made by the State Chemist to the president of the university, whose approval shall be sufficient for all nonteaching posts. Laboratory members recommended for appointment to joint laboratory-teaching positions shall be approved in a manner customary with other university faculty or staff appointments.
Miss. Code Ann. § 57-44-5 — MS Code / Title 57 / Chapter 29 / Section 44-5
Miss. Code Ann. § 57-44-5
Status: in_force

There is established a local governments freight rail service project revolving loan program to be administered by the Department of Economic and Community Development for the purpose of making loans to counties and municipalities that the governing authorities of such counties and municipalities may utilize to make loans to railroad corporations for freight rail service projects.
Miss. Code Ann. § 57-11-39 — MS Code / Title 57 / Chapter 7 / Section 11-39
Miss. Code Ann. § 57-11-39
Status: in_force

If the program provided by Sections 57-11-31 through 57-11-39 is terminated or discontinued for any reason in the future, all moneys in the “plant engineering revolving fund,” after the payment by the Mississippi Agricultural and Industrial Board of any outstanding costs in connection with said plant engineering, shall be transferred to the general fund of the state treasury on written certification of the director of the Mississippi Agricultural and Industrial Board that this program has been so discontinued or terminated, citing the statutory authority therefor.
Miss. Code Ann. § 57-27-15 — MS Code / Title 57 / Chapter 13 / Section 27-15
Miss. Code Ann. § 57-27-15
Status: in_force

The travel and tourism department of the board is hereby designated as the administrative agency of this state to act, under the authority of the board, in administering the provisions of this chapter.
Miss. Code Ann. § 57-43-9 — MS Code / Title 57 / Chapter 28 / Section 43-9
Miss. Code Ann. § 57-43-9
Status: in_force

The board of supervisors of a county or the governing authority of a municipality may, with the approval of the Mississippi Department of Transportation, appropriate funds from the county or municipal general fund to the Railroad Revitalization Fund. The money shall be used in accordance with this chapter only for rehabilitation or improvement of rail lines within the county from which the county or municipal funds are provided. The county or municipality may, according to the provisions of Section 57-43-3, Mississippi Code of 1972 , receive a partial or total reimbursement for this appropriation.
Miss. Code Ann. § 57-31-25 — MS Code / Title 57 / Chapter 15 / Section 31-25
Miss. Code Ann. § 57-31-25
Status: in_force

Any holder of revenue bonds issued under the provisions of this chapter or of any of the interest coupons pertaining thereto, except to the extent that such rights are not restricted by the resolution directing the issuance of such bonds, may, either at law or in equity, by suit, action, mandamus, or other proceeding protect and enforce any and all rights granted hereunder or under such resolution, and may enforce and compel performance of all duties required by this chapter or by any such resolution or by any such lease agreement to be performed by the authority or any officer thereof, including the fixing, charging, and collecting of revenues, rents, and other charges for the use of the project, but no holder of any such bond shall have the right to compel any exercise of taxing power by such county to provide funds to pay any such bonds or the interest thereon, or to enforce the payment thereof against any property of such county, nor shall any such bond constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the county.
Miss. Code Ann. § 57-114-17 — MS Code / Title 57 / Chapter 67 / Section 114-17
Miss. Code Ann. § 57-114-17
Status: in_force

(1) The authority and the Department of Revenue shall implement the provisions of Sections 1 through 10 of this act and exercise all powers as authorized in Sections 1 through 10 of this act; however, the application of Sections 1 through 10 of this act and the offering and awarding of any mFlex tax incentive as to any particular qualified business or industry shall be carried out at the discretion of the authority subject to, and in compliance with, Sections 1 through 10 of this act. The exercise of powers conferred by Sections 1 through 10 of this act shall be deemed and held to be the performance of essential public purposes.

(2) The authority shall have sole and exclusive jurisdiction and authority to determine whether an applicant qualifies as a qualified business or industry, whether an applicant's project qualifies as a qualified economic development project, whether to certify an applicant and its project as a qualified business or industry undertaking a qualified economic development project and the eligibility thereof for the mFlex tax incentive, the initial calculation of any mFlex tax incentive award, any terms or conditions or further requirements to be included in any mFlex agreement, and any subsequent adjustments to any mFlex tax incentive award or any revocation thereof, in all instances in accordance with Sections 1 through 10 of this act.

(3) Nothing in Sections 1 through 10 of this act shall be construed to constitute a guarantee or assumption by the State of Mississippi of any debt of any corporation, limited liability company, partnership, person or sole proprietorship, business trust or other legal entity and subunit or affiliate thereof nor to authorize the credit of the state to be given, pledged or loaned to any corporation, limited liability company, partnership, person or sole proprietorship, business trust or other legal entity and subunit or affiliate thereof. Further, nothing in Sections 1 through 10 of this act gives any right to any qualified business or industry to the tax incentives authorized by Sections 1 through 10 of this act unless such incentive is awarded by Sections 1 through 10 of this act.
Miss. Code Ann. § 57-39-1 — MS Code / Title 57 / Chapter 13 / Section 39-1
Miss. Code Ann. § 57-39-1
Status: in_force

(1) The purpose of this chapter is to coordinate all energy-related needs and activities in Mississippi with the objective of providing an efficient and economical energy system through a statewide plan. To that end, the Mississippi Development Authority is directed to evaluate this state's energy needs and availability.

(2) The powers, duties and responsibilities of the Board of Energy and Transportation with respect to the state's energy needs and activities are transferred to the Mississippi Development Authority, and wherever the word “board” appears in this chapter meaning the former Board of Energy and Transportation it shall mean the Mississippi Development Authority. Whenever the word “division” appears in this chapter, it shall mean the Mississippi Development Authority Energy and Natural Resources Division.
Miss. Code Ann. § 57-31-15 — MS Code / Title 57 / Chapter 10 / Section 31-15
Miss. Code Ann. § 57-31-15
Status: in_force

The proceeds of such bonds shall be paid into the county treasury to the credit of a special fund known as the industrial development authority construction fund, and shall be used solely for payment of the cost of the project except as hereinafter provided, and shall be disbursed upon order of the authority upon such restrictions, if any, as the resolution authorizing the issuance of the bonds may provide. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which the bonds were issued, the surplus shall be paid into the fund established for the payment of the principal of and the interest on such bonds.
Miss. Code Ann. § 57-113-3 — MS Code / Title 57 / Chapter 67 / Section 113-3
Miss. Code Ann. § 57-113-3
Status: in_force

Business enterprises wishing to apply for the tax exemptions authorized by this article shall make application to the MDA prior to construction or acquisition of the buildings for the location or expansion of the business enterprise in this state. The application shall, at a minimum, contain:

(a) An overview of the project that includes the selected site, the number of jobs proposed, the length of time necessary for the company to meet its investment and employment requirements;

(b) A two-year business plan, which shall include pro forma financial statements for the project;

(c) Data supporting the expertise of the project's principals;

(d) An acknowledgment that the business entity will be required to provide annual documentation to demonstrate that the minimum job requirement is being maintained; and

(e) Such information as may be requested by the MDA.
Miss. Code Ann. § 57-113-25 — MS Code / Title 57 / Chapter 63 / Section 113-25
Miss. Code Ann. § 57-113-25
Status: in_force

(1) Upon approval of the application, the MDA shall issue a certification designating the business enterprise as eligible for the tax exemptions authorized by this article. This certification shall document the date by which all commitments must be met.

(2) Upon the issuance of the certification, the business enterprise shall be exempt from state taxes for a period of ten (10) years subject to the performance requirements set out in the agreement required by subsection (3)(c) of this section.

(3) The following conditions, along with any other conditions the MDA shall promulgate from time to time by rule or regulation, shall apply to such exemptions:

(a) Any exemption provided under this article is nontransferable and cannot be applied, used or assigned to any other person or business or tax account without prior approval by the MDA;

(b) No approved business enterprise may claim or use the exemption granted under this article unless that enterprise is in full compliance with all state and local tax laws, and related ordinances and resolutions; and

(c) The business enterprise must enter into an agreement with the MDA which sets out, at a minimum, the performance requirements of the approved business enterprise during the term of the exemption and provisions for the recapture of all or a portion of the taxes exempted if the performance requirements of the business enterprise are not met.

(4) Upon certifying a business enterprise as eligible for the exemptions under this article, the MDA shall forward the certification along with any other necessary information to the Department of Revenue so that the exemptions can be implemented. The Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation of the state tax exemptions granted under this article.
Miss. Code Ann. § 57-75-33 — MS Code / Title 57 / Chapter 65 / Section 75-33
Miss. Code Ann. § 57-75-33
Status: in_force

The board of supervisors of a county or the governing authorities of a municipality may each enter into an agreement with an enterprise operating a project as defined in Section 57-75-5(f)(iv) 1 , Section 57-75-5(f)(xxi) , Section 57-75-5(f)(xxii) , Section 57-75-5(f) (xxviii), Section 57-75-5(f)(xxix) , Section 57-75-5(f)(xxxi) , Section 57-75-5(f)(xxxii) or Section 57-75-5(f) (xxxiii), 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, or all other taxpayers in the taxing districts in which such project is located, and the board of supervisors or the governing authorities also may each enter into a fee-in-lieu agreement as provided in Section 27-31-104 and/or Section 27-31-105(2) . Such agreements may be for a period not to exceed thirty (30) years, except that any fee-in-lieu agreement entered into under this section and Section 27-31-104 and/or Section 27-31-105(2) shall become effective upon its execution by the enterprise and the county board of supervisors and/or municipal governing authorities, as the case may be, in accordance with Section 27-31-104 , and continue in effect until all fee-in-lieu periods granted thereunder have expired; however, the period during which any fee-in-lieu may be granted under this section shall not exceed thirty (30) years, and no particular parcel of land, real property improvement or item of personal property shall be subject to a fee-in-lieu for a duration of more than ten (10) years.
Miss. Code Ann. § 57-10-253 — MS Code / Title 57 / Chapter 10 / Section 10-253
Miss. Code Ann. § 57-10-253
Status: in_force

All expenses incurred by the company in carrying out the provisions of this article shall be payable solely from funds provided under this article, and nothing in this article shall be construed to authorize the company to incur indebtedness or liability on behalf of or payable by the state or any other political subdivision thereof.
Miss. Code Ann. § 57-123-53 — MS Code / Title 57 / Chapter 67 / Section 123-53
Miss. Code Ann. § 57-123-53
Status: in_force

(1) As used in this section, the following words and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:

(a) “ Destination marketing organization ” means an organization that received funds under Section 57-123-7, Mississippi Code of 1972 .

(b) “ Marketing activities ” means multimedia marketing and advertising, including digital media, broadcast media and printed media, including travel publications, production, travel market sector analysis, consumer travel sentiment, public relations, communication strategy, direct sales bookings, group tour bookings, tourism development and administrative costs to execute marketing activities related to the business disruption effects of the Coronavirus Disease 2019 as expressed in Section 57-123-51 .

(2)(a) The Department of Finance and Administration shall establish a program for the purpose of providing funds to assist destination marketing organizations in paying costs for marketing activities as provided in this section and to assist certain museums as provided in this section. Monies disbursed by the Department of Finance and Administration under this section shall be disbursed in compliance with all requirements and/or conditions on funds appropriated from the Coronavirus State Fiscal Recovery Fund for the program established under this section. Monies in the fund shall be disbursed by the Department of Finance and Administration as follows:

(i) Twenty-one Million Dollars ($21,000,000.00) shall be disbursed as provided in paragraph (b) of this subsection (2) to assist destination marketing organizations in paying costs for marketing activities; and

(ii) One Million Dollars ($1,000,000.00) shall be disbursed to the GRAMMY® Museum Mississippi, in Cleveland, Mississippi, to assist in paying costs associated with advertising and other forms of promoting and publicizing the museum and museum related activities, and repairs and renovations of and upgrades and improvements to the museum for health and safety purposes related to the Coronavirus Disease 19.

(b)(i) The Department of Finance and Administration shall determine, in conjunction with the destination marketing organizations, the allocation of funds under paragraph (a)(i) of this subsection (2) and shall disburse funds as follows:

1. Not more than Nine Million Four Hundred Twenty-seven Thousand Five Hundred Fifty-seven Dollars ($9,427,557.00) of such monies shall be allocated to destination marketing organizations in a manner that will provide monies to a destination marketing organization in an amount equal to seventy-five percent (75%) of the destination marketing organization's marketing and advertising expenditures during the 2019 fiscal year, and

2. Not more than Eleven Million Five Hundred Seventy-two Thousand Four Hundred Forty-three Dollars ($11,572,443.00) of such monies shall be allocated to destination marketing organizations based on the proportion that a destination marketing organization's contribution toward total tourism visitors in the state according to the 2019 Fiscal Year Visit Mississippi Visitors Profile Report bears to all destination marketing organizations' contributions toward total tourism visitors in the state according to the 2019 Fiscal Year Visit Mississippi Visitors Profile Report. However, a destination marketing organization shall not receive an amount less than One Hundred Twenty-five Thousand Dollars ($125,000.00) under this item 2.

(ii) Destination marketing organizations receiving funds under this paragraph (b) shall provide details related to their planned expenditures to the Department of Finance and Administration prior to funds being disbursed. If the plans submitted by the destination marketing organizations include activities described in this section as eligible under this program, the department shall approve the plan within thirty (30) days of receipt of the plans.

(iii) Before receiving funds under this paragraph (b), a destination marketing organization must certify to the Department of Finance and Administration that:

1. The funds will only be used for marketing activities, and

2. The destination marketing organization will comply with applicable federal and state regulations and requirements related to American Rescue Plan Act funds, and

3. The destination marketing organization will obligate all funds by December 31, 2024, and fully expend all funds by December 31, 2026.

(iv) Destination marketing organizations receiving funds under this paragraph (b) shall keep and maintain records related to expenditures. Destination marketing organizations receiving funds under this paragraph (b) shall also track impacts of their marketing activities through special levy tax receipts, hotel occupancy indicators, other tourism industry metrics, and analytics from marketing campaigns, as appropriate. Such destination marketing organizations shall provide semi-annual reports on expenditures and economic impacts of their marketing activities to the Department of Finance and Administration, the Governor, the Lieutenant Governor, the Speaker of the House of Representatives and the Department of Audit.

(v) Subject to applicable purchasing laws, destination marketing organizations will give preference, when available and practical, to Mississippi-based companies for any new contracts entered into for marketing activities.

(3) The Department of Finance and Administration and the Department of Audit shall have all powers necessary for the implementation of this section.
Miss. Code Ann. § 57-31-11 — MS Code / Title 57 / Chapter 23 / Section 31-11
Miss. Code Ann. § 57-31-11
Status: in_force

All revenue bonds and interest coupons issued under the provisions of this chapter shall have and are hereby declared to have all the qualities and incidents of negotiable instruments under the Uniform Commercial Code of the State of Mississippi. Such bonds and the income therefrom shall be exempt from all taxation within the State of Mississippi.
Miss. Code Ann. § 57-10-219 — MS Code / Title 57 / Chapter 10 / Section 10-219
Miss. Code Ann. § 57-10-219
Status: in_force

The company may, in its discretion, set the premiums and fees to be paid to it for providing financial assistance under this article. The premiums and fees and expenses set by the company shall be payable in the amounts, at the time and in the manner that the company, in its discretion, requires. The premiums and fees need not be uniform among transactions and may vary in amount among transactions and at different stages during the terms of the transactions.
Miss. Code Ann. § 57-27-3 — MS Code / Title 57 / Chapter 1 / Section 27-3
Miss. Code Ann. § 57-27-3
Status: in_force

Any group of interested citizens and residents of counties comprising a natural promotion region of this state, and who are residents of counties representing not less than fifty percent (50%) of the total population of the region, but in no event less than fifteen (15) individuals, who shall form a nonprofit corporation pursuant to the provisions of the Mississippi Nonprofit Corporation Law for the purpose of promoting tourist travel and vacation business in the counties comprising the natural promotion region, and whose charter, bylaws and purpose are in compliance with the rules and regulations promulgated by the board pursuant to the provisions of this chapter, may apply for recognition by the board as a regional tourist promotion council under this chapter. Provided, that upon approval of the board, a county in one (1) natural promotion region of the state may be included within the area comprising a different and adjacent natural promotion region if, and when, experience establishes that the county tourist values are more closely identified with the other region.
Miss. Code Ann. § 57-3-31 — MS Code / Title 57 / Chapter 3 / Section 3-31
Miss. Code Ann. § 57-3-31
Status: in_force

Bonds issued under the provisions of this chapter shall be legal investments for savings banks and insurance companies organized under the laws of this state.
Miss. Code Ann. § 57-44-31 — MS Code / Title 57 / Chapter 11 / Section 44-31
Miss. Code Ann. § 57-44-31
Status: in_force

All bonds issued under the provisions of Sections 57-44-11 through 57-44-39 shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.
Miss. Code Ann. § 57-113-21 — MS Code / Title 57 / Chapter 63 / Section 113-21
Miss. Code Ann. § 57-113-21
Status: in_force

As used in this article:

(a) “ Business enterprise ” means any business enterprise owning or operating a data center with a minimum capital investment in this state of Twenty Million Dollars ($20,000,000.00) which will create a minimum of twenty (20) new, full-time jobs with a minimum average annual salary of not less than one hundred twenty-five percent (125%) of the average annual state wage.

(b) “ Data center ” means a business enterprise that utilizes hardware, software, technology, infrastructure and/or workforce, to store, manage or manipulate digital data.

(c) “ MDA ” means the Mississippi Development Authority.

(d) “ State tax ” means:

(i) Any sales and use tax imposed on the business enterprise pursuant to law related to the purchase or lease of component building materials and equipment for initial construction of facilities or expansion of facilities that are certified by the Mississippi Development Authority;

(ii) Any sales and use tax imposed by law on the business enterprise pursuant to law related to the purchase of replacement hardware, software or other necessary technology to operate a data center;

(iii) All income tax imposed pursuant to law on income earned by the business enterprise certified by the Mississippi Development Authority; and

(iv) Franchise tax imposed pursuant to law on the value of capital used, invested or employed by the business enterprise certified by the Mississippi Development Authority.
Miss. Code Ann. § 57-10-249 — MS Code / Title 57 / Chapter 5 / Section 10-249
Miss. Code Ann. § 57-10-249
Status: in_force

The company shall have the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment and payment of any money of the company, and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the company, and all banks and trust companies are authorized to give security for the deposits.
Miss. Code Ann. § 57-39-11 — MS Code / Title 57 / Chapter 10 / Section 39-11
Miss. Code Ann. § 57-39-11
Status: in_force

The division shall be tasked with developing, implementing and refining over time the Mississippi Energy Plan. The Mississippi Energy Plan shall include, but not be limited to the following:

(a) Efforts to promote Mississippi as a leader in energy development, job creation and research;

(b) Plans to encourage the safe and responsible exploration and extraction of the state's natural resources;

(c) Plans to add value and sustain resources through advances in manufacturing, conversion, and processing related to energy consumption and generation;

(d) Expanding energy capacity and realizing savings through energy efficiency;

(e) Encourage investments in the energy infrastructure of transmission and distribution to maintain the state's leadership in this area;

(f) Plans to ensure the state competes in technology-based energy economic development, research and development, and commercialization;

(g) Prepare a twenty-first century energy workforce;

(h) Statewide forecasts of energy needs and deficiencies;

(i) A program for directing the expenditure of local, state and federal energy funds in conformity with the statewide plan;

(j) Statewide implementation program, including a schedule of improvement programs, an operations program, a financial plan, necessary policies and legislation for implementation of the energy plan; and

(k) Financial impact statement.
Miss. Code Ann. § 57-19-5 — MS Code / Title 57 / Chapter 5 / Section 19-5
Miss. Code Ann. § 57-19-5
Status: in_force

The board of trustees of state institutions of higher learning is hereby authorized and directed to establish a food technology program at Mississippi State University of Agriculture and Applied Science under the direction of the president and such other administrative authorities within the university as said board of trustees may determine.
Miss. Code Ann. § 57-43-9 — MS Code / Title 57 / Chapter 15 / Section 43-9
Miss. Code Ann. § 57-43-9
Status: in_force

The board of supervisors of a county or the governing authority of a municipality may, with the approval of the Mississippi Department of Transportation, appropriate funds from the county or municipal general fund to the Railroad Revitalization Fund. The money shall be used in accordance with this chapter only for rehabilitation or improvement of rail lines within the county from which the county or municipal funds are provided. The county or municipality may, according to the provisions of Section 57-43-3, Mississippi Code of 1972 , receive a partial or total reimbursement for this appropriation.
Miss. Code Ann. § 57-10-409.nr3 — MS Code / Title 57 / Chapter 5 / Section 10-409.nr3
Miss. Code Ann. § 57-10-409.nr3
Status: in_force

The corporation may enter into, with any approved company, a financing agreement with respect to its economic development project. The terms and provisions of each financing agreement shall be determined by negotiations between the corporation and the approved company, except that each financing agreement shall include the following provisions:

(a) If the corporation issues any bonds in connection with an economic development project, the term of the financing agreement shall not be less than the last maturity of the bonds issued with respect to the economic development project, except that the financing agreement may terminate upon the earlier redemption of all of the bonds issued with respect to the economic development project and may grant to the approved company an option to purchase the economic development project from the corporation upon the termination of the financing agreement for such consideration and under such terms and conditions the corporation may approve. Nothing in this paragraph shall limit the extension of the term of a financing agreement if there is a refunding of the correlative bonds or otherwise.

(b) If the corporation issues any bonds in connection with an economic development project, the financing agreement shall specify that the annual obligations of the approved company under Sections 57-10-401 through 57-10-445 shall equal in each year at least the annual debt service for that year on the bonds issued with respect to the economic development project; and the approved company shall pay such obligation of the financing agreement to the trustee for bonds issued for the benefit of the approved company, at such time and in such amounts sufficient to amortize such bonds.

(c) If the corporation loans funds to an approved company that is a private company under the Mississippi Small Enterprise Development Finance Act, the financing agreement shall include the terms and conditions of the loan required by Section 57-71-1 et seq.

(d)(i) In consideration for financing agreement payment, the approved company may be permitted a tax credit on the amount provided for in Section 27-7-22.3(2), Mississippi Code of 1972 , during the period of time in which the financing agreement is in effect, not to exceed twenty-five (25) years.

(ii) The income tax credited to the approved company referred to herein shall be credited in the fiscal year of the financing agreement in which the tax return of the approved company is filed. The approved company shall not be required to pay estimated tax payments under Section 27-7-319, Mississippi Code of 1972 .

(e) The financing agreement shall provide that:

(i) It may be assigned by the approved company only upon the prior written consent of the corporation following the adoption of a resolution by the corporation to such effect; and

(ii) Upon the default by the approved company in the obligation to render its annual payment, the corporation shall have the right, at its option, to declare the financing agreement in default and to accelerate the total of all annual payments that are to be made or to terminate the financing agreement and cause to be sold the economic development project at public or private sale, or to pursue any other remedies available under the Uniform Commercial Code, as from time to time amended, or otherwise available in law or equity.
Miss. Code Ann. § 57-55-3 — MS Code / Title 57 / Chapter 32 / Section 55-3
Miss. Code Ann. § 57-55-3
Status: in_force

The legislature hereby finds and declares:

(a) That the economic and social progress of Mississippi depends in large measure upon the development, conservation and wise use of the natural resources of the state and orderly modernization of the laws of the state;

(b) That organized research and planning in various institutions of higher learning of the state can make significant contributions to the progress of the state;

(c) That the promotion of scientific and legal research, planning and development and the coordination of effort and dissemination of results among researchers and users is essential for efficient utilization of resources and orderly progress;

(d) That this chapter is intended to promote, and implement specific research efforts at various universities and coordinate their efforts with related research and development work conducted by other governmental and private entities.
Miss. Code Ann. § 57-55-9 — MS Code / Title 57 / Chapter 41 / Section 55-9
Miss. Code Ann. § 57-55-9
Status: in_force

(1) The Mississippi Mineral Resources Institute, hereinafter referred to as MMRI, is hereby established. The MMRI shall be under the management and control of the board of trustees of state institutions of higher learning. The principal offices of the MMRI shall be located at the University of Mississippi. The MMRI shall be organized to coordinate mining and mineral research, planning and development with the appropriate disciplines in other institutions of higher learning and other state, federal and private agencies concerned with the development and conservation of the mineral resources of the state.

(2) It shall be the function and duties of the MMRI to:

(a) Conduct basic and applied research for the development and conservation of mineral resources, including but not limited to mining, land reclamation and disposal of waste material;

(b) Assist and support mining and mineral related research programs at the various institutions of higher learning;

(c) Assist and consult with state and local agencies in planning the development and conservation of mineral resources;

(d) Maintain liaison with private industry and appropriate state and local agencies to promote industrial development and conservation of mineral resources and plan, initiate and maintain a program of cooperative training between private industry and the academic and technical institutions of the state;

(e) Disseminate new information and facilitate transfer and application of new technologies as they are developed; and

(f) Negotiate and administer contracts with private, local, regional, state and federal agencies.
Miss. Code Ann. § 57-43-17 — MS Code / Title 57 / Chapter 30 / Section 43-17
Miss. Code Ann. § 57-43-17
Status: in_force

The Southern Rail Commission is granted the authority to execute and enter into contracts with parties for the purpose of construction of any related infrastructure and/or operations of intercity passenger rail service subject to the approval of any affected railroad and other interested party. The Southern Rail Commission is granted the authority to prepare grant applications related to the establishment or maintenance of passenger rail service, enter into operating and other contractual agreements with providers of passenger rail service, and enter into agreements with owners or operators of railway tracks in order to provide for upgrades necessary to establish or maintain passenger rail service.
Miss. Code Ann. § 57-41-5 — MS Code / Title 57 / Chapter 34 / Section 41-5
Miss. Code Ann. § 57-41-5
Status: in_force

The principal of, redemption premium, if any, and interest on the notes of the municipality shall be payable solely out of, and shall be secured by a pledge of the revenues and receipts derived from the industrial enterprise as designated in the proceedings of the governing body under which the notes shall be authorized to be issued, including debt obligations of the industrial enterprises obtained from or in connection with the financing of a project, and from such other sources available to the municipality as may be designated by the governing body in its proceedings in connection with the issuance of the notes. Such notes may be executed and delivered by the governing body at any time and from time to time, may be in such form and denominations, may be subject to such terms of redemption, may mature at such time or times not exceeding ten (10) years; and may be in fully registered form or in bearer form registrable either as to principal or interest or both, may bear such conversion privileges and be payable in such installments and at such time or times, may be payable at such place or places, whether within or without the state of Mississippi, may bear interest irrespective of any interest rate limitation, payable at such time or times, and at such place or places and evidenced in such manner, and may contain such provisions not inconsistent herewith, all as shall be provided in the proceedings of the governing body whereunder the notes shall be authorized to be issued.

Any notes of the governing body may be sold at public or private sale. The governing body may pay all expenses, premiums and commissions which its governing body may deem necessary or advantageous in connection with the issuance thereof, but solely from the proceeds of the notes. Bonds issued hereunder shall be validated in the manner provided by law in the chancery court of the county in which the municipality is located.
Miss. Code Ann. § 57-49-21 — MS Code / Title 57 / Chapter 18 / Section 49-21
Miss. Code Ann. § 57-49-21
Status: in_force

The board, through the council and the committee, shall monitor activity by Congress and the federal government related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste. The board, upon recommendation of the council, may advise the congressional delegation from this state of action which is necessary to protect the interests of the state.
Miss. Code Ann. § 57-117-7 — MS Code / Title 57 / Chapter 65 / Section 117-7
Miss. Code Ann. § 57-117-7
Status: in_force

(1) Businesses and health care industry facilities shall apply to the MDA for certification as a qualified business. If the health care industry facility or business is located in a health care industry zone and meets the requirements of this chapter, the MDA shall certify it as a qualified business.

(2) A health care industry facility or business certified by the MDA as a qualified business within a health care industry zone that constructs or renovates a health care industry facility within a health care industry zone shall qualify for the following:

(a) An accelerated state income tax depreciation deduction. The accelerated depreciation deduction shall be computed by accelerating depreciation period required by Mississippi Administrative Code, to a ten-year depreciation period.

(b) A sales tax exemption as authorized in Section 27-65-101(1)(pp) .

(c) A fee-in-lieu of taxes as authorized in Section 27-31-104 .

(d) An ad valorem tax exemption as authorized in Section 27-31-101 .
Miss. Code Ann. § 57-67-33 — MS Code / Title 57 / Chapter 65 / Section 67-33
Miss. Code Ann. § 57-67-33
Status: in_force

Any bonds or state bonds issued under the provisions of this chapter, a transaction relating to the sale or securing of such bonds, their transfer and the income therefrom shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state, excepting inheritance and gift taxes.
Miss. Code Ann. § 57-117-7 — MS Code / Title 57 / Chapter 64 / Section 117-7
Miss. Code Ann. § 57-117-7
Status: in_force

(1) Businesses and health care industry facilities shall apply to the MDA for certification as a qualified business. If the health care industry facility or business is located in a health care industry zone and meets the requirements of this chapter, the MDA shall certify it as a qualified business.

(2) A health care industry facility or business certified by the MDA as a qualified business within a health care industry zone that constructs or renovates a health care industry facility within a health care industry zone shall qualify for the following:

(a) An accelerated state income tax depreciation deduction. The accelerated depreciation deduction shall be computed by accelerating depreciation period required by Mississippi Administrative Code, to a ten-year depreciation period.

(b) A sales tax exemption as authorized in Section 27-65-101(1)(pp) .

(c) A fee-in-lieu of taxes as authorized in Section 27-31-104 .

(d) An ad valorem tax exemption as authorized in Section 27-31-101 .
Miss. Code Ann. § 57-41-15 — MS Code / Title 57 / Chapter 25 / Section 41-15
Miss. Code Ann. § 57-41-15
Status: in_force

This chapter, without reference to any other statute, shall be deemed to be full and complete authority for the issuance of the aforesaid notes, and shall be construed as an additional and alternative method therefor, and none of the present restrictions, requirements, conditions or limitations of law applicable to the issuance or sale of bonds, notes or other obligations by municipalities in this state shall apply to the issuance and sale of notes under this chapter, and no proceedings shall be required for the issuance of such notes other than those provided for and required herein, and all powers necessary to be exercised in order to carry out the provisions of this chapter are hereby conferred.
Miss. Code Ann. § 57-10-127 — MS Code / Title 57 / Chapter 4 / Section 10-127
Miss. Code Ann. § 57-10-127
Status: in_force

Methods of distribution of all of the collections made by the district attorney or county attorney, where either or both of the funds in the state treasury have become liable for the principal due under any such loan and payment of the remaining balance due on the principal of the loan have been paid from either the guaranty fee fund or small businessman's loan fund, shall be as follows: (a) first, the amount of the principal of the loan which has been paid out of either the guaranty fee fund or the small businessman's loan fund shall be deposited to the fund from which it was withdrawn, or on a pro rata basis; (b) next, the interest due the lender on the loan unpaid up to and including the date of the assignment of the judgment from the lender to the State of Mississippi shall be paid to the lender; (c) then, the remainder of the proceeds, if any, shall be applied to the payment of interest to the guaranty fee fund or small businessman's loan fund, at the legal rate from the date that said fund was called upon to indemnify the lender.
Miss. Code Ann. § 57-49-21 — MS Code / Title 57 / Chapter 43 / Section 49-21
Miss. Code Ann. § 57-49-21
Status: in_force

The board, through the council and the committee, shall monitor activity by Congress and the federal government related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste. The board, upon recommendation of the council, may advise the congressional delegation from this state of action which is necessary to protect the interests of the state.
Miss. Code Ann. § 57-47-5 — MS Code / Title 57 / Chapter 11 / Section 47-5
Miss. Code Ann. § 57-47-5
Status: in_force

The governor is authorized and empowered to enter into agreements and to perform other necessary acts and deeds incident to the purposes of this compact.
Miss. Code Ann. § 57-10-167 — MS Code / Title 57 / Chapter 9 / Section 10-167
Miss. Code Ann. § 57-10-167
Status: in_force

There is hereby established the Certified Development Company of Mississippi, a public corporation, which shall be an incorporated certified development company pursuant to Section 503 of the Small Business Investment Act of 1958, as amended.

The Certified Development Company of Mississippi, Inc., hereinafter referred to as the “committee” unless the context clearly indicates otherwise, shall be composed of twenty-five (25) members as follows:

(a) The State Treasurer; the Executive Director of the University Research Center or his designee; the Executive Director of the Mississippi Development Authority; the Executive Director of the Small Business Development Center; six (6) persons associated with small business to be appointed by the Governor, one (1) for a term of one (1) year, one (1) for a term of two (2) years, one (1) for a term of three (3) years, one (1) for a term of four (4) years, one (1) for a term of five (5) years and one (1) for a term of six (6) years; three (3) persons associated with small business to be appointed by the Lieutenant Governor, one (1) for a term of one (1) year, one (1) for a term of two (2) years and one (1) for a term of three (3) years; five (5) persons involved in banking or small business to be appointed by the Governor, one (1) for a term of one (1) year, one (1) for a term of two (2) years, one (1) for a term of three (3) years, one (1) for a term of four (4) years and one (1) for a term of five (5) years; and two (2) persons involved in banking or small business to be appointed by the Lieutenant Governor, one (1) for a term of one (1) year and one (1) for a term of two (2) years. The members described above and serving on the committee on June 30, 1984, shall continue to serve on the committee until the expiration of their terms.

(b) For terms to begin on July 1, 1984, the Governor shall appoint one (1) person associated with small business for a term of six (6) years; the Secretary of State shall appoint one (1) person associated with small business for a term of one (1) year; the Attorney General shall appoint one (1) person involved in banking or small business for a term of six (6) years; and the State Treasurer shall appoint two (2) persons, one (1) for a term of one (1) year and one (1) for a term of two (2) years, and after the expiration of the term of the person appointed hereinabove by the Attorney General, that vacancy shall be filled thereafter by a person involved in banking or small business appointed by the State Treasurer for a term of six (6) years.

All appointments after the initial appointment shall be for terms of six (6) years each. All such appointments will be subject to the approval of the Senate. An appointment to fill a vacancy existing for any reason other than the expiration of a term shall be for the balance of the unexpired term. Members serving by reason of their ex officio designation shall continue to serve as long as they occupy the position which entitles them to membership.

Members who are officers or employees of the state shall receive no compensation for their services, and other committee members shall receive a per diem as provided in Section 25-3-69, Mississippi Code of 1972 . All members shall receive reimbursement for actual traveling and subsistence expenses incurred in the performance of their duties under this article, such reimbursement to be as provided in Section 25-3-41, Mississippi Code of 1972 .

The Certified Development Company of Mississippi, Inc., shall have an executive director who shall be appointed by the board of directors.

The Certified Development Company of Mississippi, Inc., shall elect from among its membership a nine-member board of directors, a majority of whom shall be a quorum, a president and vice president and may appoint a secretary and a treasurer.

From and after July 1, 1989, the Certified Development Company of Mississippi, Inc., shall be known as the Mississippi Business Finance Corporation, and wherever the term “ Certified Development Company of Mississippi, Inc .,” appears in the laws of this state it shall mean the Mississippi Business Finance Corporation.
Miss. Code Ann. § 57-29-3 — MS Code / Title 57 / Chapter 10 / Section 29-3
Miss. Code Ann. § 57-29-3
Status: in_force

The travel and tourism department of the board is hereby authorized, upon approval of the board, to solicit bids from competent publication agencies and to expend such funds as may be appropriated for the purpose of publishing a vacation guide.
Miss. Code Ann. § 57-1-75 — MS Code / Title 57 / Chapter 1 / Section 1-75
Miss. Code Ann. § 57-1-75
Status: in_force

The governing authority of the municipality as defined in Sections 57-1-71 and 57-1-73 , subject to the the approval of the boards of supervisors of each county having territory involved, may issue such bonds as may be authorized in the election held for the operation of the enterprise, and may make all contracts for the erection of buildings and structures and the acquisition and purchase of lands, and for the operation of such enterprise. It shall not be necessary for contracts entered into by the governing authority of the municipality to be approved by the boards of supervisors of the counties having territory included in such municipal separate school district.
Miss. Code Ann. § 57-49-25 — MS Code / Title 57 / Chapter 32 / Section 49-25
Miss. Code Ann. § 57-49-25
Status: in_force

An application for a permit to conduct site characterization studies which shall be filed pursuant to this chapter shall contain the following information and materials:

(a) A description of the proposed activities, including maps, present and proposed development, and geological, seismic, ecological, hydrological, biological, aesthetic, social, demographic and related data as appropriate;

(b) A statement of the ownership and other financial interests in the facility;

(c) An estimate of the costs of the proposed activities, if any, and the source of the funds therefor;

(d) A statement of the need for the proposed activities, including the sources, type, and composition of the nuclear waste proposed to be received for storage at the facility;

(e) A plan for decontamination and decommissioning of the facility and the possibility of restoration of the site to unrestricted use, including the costs thereof and the source of the funds therefor;

(f) An assessment of the environmental impacts of the proposed action, including the preparation of a formal environment assessment, such assessment to include at a minimum:

(1) An evaluation by the secretary of the United States Department of Energy of the suitability of such site for site characterization pursuant to guidelines promulgated pursuant to Section 112(a) of P.L. 97-425 ;

(2) An evaluation of the short-term and long-term environmental effects and proposed mitigation measures proposed to minimize those effects;

(3) An evaluation of any adverse environmental effects which could not be avoided during the site characterization activities;

(4) An evaluation by the secretary as to whether such candidate site is suitable for development as a repository under each such guideline that does not require site characterization as a prerequisite for application of such guideline;

(5) An evaluation by the secretary of the effects of the site characterization activities at such candidate site on the public health and safety and the environment;

(6) A reasonable comparative evaluation by the secretary of such candidate site with other sites and locations that have been considered;

(7) A description of the decision process by which such candidate site was recommended; and

(8) An assessment of the regional and local impacts of locating the proposed repository at such candidate site.

(g) An assessment of the safety and adequacy of in-state transportation access to the site for construction and maintenance purposes;

(h) A disposal plan and assured funding mechanism for the nuclear waste proposed to be stored at the facility, including the costs of such disposal and the source of the funds therefor; and

(i) A complete survey by the applicant of its expertise and experience in all other fields of study in relation to high-level radioactive waste disposal, to include the general conclusions and technical results and findings of those activities.
Miss. Code Ann. § 57-77-2 — MS Code / Title 57 / Chapter 63 / Section 77-2
Miss. Code Ann. § 57-77-2
Status: in_force

The Legislature finds that the Venture Capital Act of 1994, Sections 57-77-1 through 57-77-39, Mississippi Code of 1972 , has not been implemented in accordance with the legislative intent. The Legislature finds that the Venture Capital Act of 1994 needs to be amended for the purpose of clarifying the legislative intent and for the further purpose of ensuring public trust in the venture capital loan program by providing safeguards in the operation of the program and over the proper administration of the use of public funds. The Legislature finds that persons are purporting to serve on the Magnolia Capital Corporation Board of Directors and the Magnolia Venture Capital Corporation Board of Directors in violation of the legislative intent of the Venture Capital Act of 1994. Pursuant to Section 178 of the Mississippi Constitution of 1890 , the Legislature finds that it is in the public interest to amend the charters of incorporation of the Magnolia Capital Corporation and the Magnolia Venture Capital Corporation which were authorized to be formed under the provisions of the Venture Capital Act of 1994, and the amendments made to Sections 57-77-9 and 57-77-11 by Chapter 563, Laws of 1998, shall be amendments to the charters of incorporation of the Magnolia Capital Corporation and the Magnolia Venture Capital Corporation.
Miss. Code Ann. § 57-34-13 — MS Code / Title 57 / Chapter 28 / Section 34-13
Miss. Code Ann. § 57-34-13
Status: in_force

The authority shall submit annually to the executive head or designated officer or officers of each state a budget of its estimated expenditures for such year as may be required by the laws of that state for presentation to the legislature thereof. The total amount of the authority's budget of estimated expenditures shall be apportioned among the states in equal shares. Subject to appropriation by the legislatures of the states, the authority shall be provided with such funds by each of the states as are necessary to enable the authority to fulfill the powers and duties imposed upon and entrusted to it.
Miss. Code Ann. § 57-10-255 — MS Code / Title 57 / Chapter 4 / Section 10-255
Miss. Code Ann. § 57-10-255
Status: in_force

(1) The company is hereby declared to be performing a public function and to be a public body corporate and a political subdivision of the state. Accordingly, the income, including any profit made on the sale thereof from all bonds issued by the company, shall at all times be exempt from all taxation by the state or any public subdivision thereof. If, after all indebtedness and other obligations of the company are discharged the company is dissolved, its remaining assets shall inure to the benefit of the state.

(2) All mortgages or deeds of trust executed as security therefor, all lease, loan or purchase agreements made pursuant to the provisions hereof, all purchases required to establish the enterprise and financed by proceeds from bonds issued pursuant to Chapter 10, Title 57, Mississippi Code of 1972 , shall likewise be exempt from all taxation in the State of Mississippi except the contractors' tax imposed by Section 27-65-21 and the taxes levied by Section 27-65-24(1)(b) , and all projects financed by the proceeds from such bonds and the revenue derived from any lease thereof shall be exempt from all taxation in the State of Mississippi, except the tax levied by Sections 27-65-21 and 27-65-24(1)(b) , and except the tax levied under Chapter 7, Title 27, Mississippi Code of 1972 . From and after July 1, 2002, there shall be no new ad valorem tax exemption authorized under this section unless approved by the appropriate local taxing authority.

(3) The time of any ad valorem tax exemption provided for hereunder shall not exceed a total of ten (10) years, which shall run from the date of the completion of the project. In no event shall the term of the ad valorem tax exemption provided for hereunder be limited, terminated or otherwise affected by payment in full of the bonds issued under this chapter or by the change from a leasehold to a fee title in the enterprise financed with bonds issued under this chapter.

(4) From and after July 1, 1990, there shall be no new exemption under this section from ad valorem taxes levied for school district purposes.
Miss. Code Ann. § 57-41-9 — MS Code / Title 57 / Chapter 33 / Section 41-9
Miss. Code Ann. § 57-41-9
Status: in_force

All notes issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of, redemption premium, if any, and interest on which shall be payable solely from revenues received by the municipality pursuant to the loan agreement or pursuant to notes and deeds of trust delivered to the municipality and from such other funds as may be made available to the municipality for such purpose by the terms of the trust agreement. Notes issued under authority of this chapter shall never constitute an indebtedness of the municipality within the meaning of any state constitutional provision or statutory limitation, and shall never constitute nor give rise to a pecuniary liability of the municipality or a charge against its general credit or taxing powers, and such fact shall be plainly stated on the face of each such note. The notes shall not be considered when computing any limitation of indebtedness of the municipality established by law. All notes issued under the authority of this chapter shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.
Miss. Code Ann. § 57-114-19 — MS Code / Title 57 / Chapter 77 / Section 114-19
Miss. Code Ann. § 57-114-19
Status: in_force

The authority and the Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, Section 25-43-1.101 et seq. and all application forms and other forms necessary to implement their respective duties and responsibilities under the provisions of Sections 1 through 10 of this act.
Miss. Code Ann. § 57-44-9 — MS Code / Title 57 / Chapter 4 / Section 44-9
Miss. Code Ann. § 57-44-9
Status: in_force

In administering the provisions of this chapter, the Department of Economic and Community Development shall have the following powers and duties:

(a) To supervise the use of all funds made available under this chapter;

(b) To review all freight rail service projects for which loans are made under this chapter by local governments;

(c) To requisition monies in the Local Governments Freight Rail Service Project Revolving Loan Fund and distribute those monies to counties and municipalities, on a project-by-project basis in accordance with the provisions of this chapter;

(d) To ensure that the funds made available to a county or an incorporated municipality under this chapter provide for an equitable distribution of projects and funds among the counties and incorporated municipalities;

(e) To maintain an accurate record of all funds made available to counties and municipalities.

(f) To adopt and promulgate such rules and regulations as may be necessary or desirable for the purpose of implementing the provisions of this chapter; and

(g) To file annually with the Legislature a report detailing how monies in the Revolving Loan Fund were spent during the preceding fiscal year in each county and incorporated municipality, the number of freight rail service projects constructed, and the cost of each project.
Miss. Code Ann. § 57-55-13 — MS Code / Title 57 / Chapter 44 / Section 55-13
Miss. Code Ann. § 57-55-13
Status: in_force

(1) The Mississippi Polymer Institute, hereinafter referred to as the MPI, is hereby established under the management and control of the board of trustees of state institutions of higher learning. The principal offices of the MPI shall be located at the University of Southern Mississippi and shall be under the direction of the president and such other administrative authorities within the university as the board of trustees may determine.

(2) It shall be the function of the MPI to conduct and sponsor research of interest to the polymer industries of the state, and to disseminate research results and other information of interest to appropriate individuals and research agencies for whom such knowledge will be helpful, and to the Mississippi polymer industries by conducting and sponsoring short courses, seminars and symposia. Said research shall be designed to increase the utilization of Mississippi raw materials in polymers and to support the rapidly growing polymer industry. Data from applications research will be released to appropriate Mississippi research agencies and industries for appropriate utilization. The MPI shall be organized to coordinate polymer research, planning and development with the appropriate disciplines in other institutions of higher learning and other state, federal and private agencies concerned with the development of Mississippi's polymer industry.
Miss. Code Ann. § 57-10-237 — MS Code / Title 57 / Chapter 1 / Section 10-237
Miss. Code Ann. § 57-10-237
Status: in_force

Any resolution authorizing the issuance of bonds may contain provisions as to:

(a) Pledging all or any part of the revenues of the company to secure the payment of the bonds subject to the terms of the proceedings relating to other bonds of the company as may then exist;

(b) Pledging all or any part of the assets of the company, including loans and obligations securing the same, to secure the payment of the bonds, subject to the terms of the proceedings relating to other bonds of the company as may then exist;

(c) The use and disposition of the gross income from loans owned by the company and payment of the principal of loans owned by the company;

(d) The setting aside of reserves or sinking funds and the regulations and disposition thereof;

(e) Limitations on the purposes to which the proceeds from the sale of bonds may be applied and pledging the proceeds to secure the payment of the bonds;

(f) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding or other bonds;

(g) The procedure, if any, by which the terms of any of the proceedings under which the bonds are being issued may be amended or abrogated, the number or percentage of bondholders who or which must consent thereto, and the manner in which the consent may be given;

(h) The vesting in a trustee or trustees of such property, rights, powers and duties in trust as the company may determine, and limiting or abrogating the right of bondholders to appoint a trustee or limiting the rights, powers and duties of the trustee;

(i) Defining the act or omissions to act which shall constitute a default and the obligations or duties of the company to the holders of the bonds, and providing for the rights and remedies of the holders of the bonds in the event of default, which rights and remedies may include the general laws of the state and other provisions of this article; or

(j) Any other matter, of like or different character, which in any way affects the security or protection of the holders of the bonds.
Miss. Code Ann. § 57-44-31 — MS Code / Title 57 / Chapter 35 / Section 44-31
Miss. Code Ann. § 57-44-31
Status: in_force

All bonds issued under the provisions of Sections 57-44-11 through 57-44-39 shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.
Miss. Code Ann. § 57-47-5 — MS Code / Title 57 / Chapter 27 / Section 47-5
Miss. Code Ann. § 57-47-5
Status: in_force

The governor is authorized and empowered to enter into agreements and to perform other necessary acts and deeds incident to the purposes of this compact.
Miss. Code Ann. § 57-57-5 — MS Code / Title 57 / Chapter 1 / Section 57-5
Miss. Code Ann. § 57-57-5
Status: in_force

For the purposes of this chapter, the following terms shall have the meanings ascribed to them in this section, unless the context clearly indicates otherwise:

(a) “Committee” means a committee, consisting of the chairman of the Certified Development Company of Mississippi, Inc., or his designee, two (2) bankers and two (2) Mississippi businessmen who are members of the Certified Development Company of Mississippi, Inc., created pursuant to Section 57-10-167 , and actively involved in exporting.

(b) “Company” means the Certified Development Company of Mississippi, Inc., created pursuant to Section 57-10-167 .

(c) “Bank” means any state or national bank doing business in Mississippi, which is approved by the company.

(d) “Eligible export trade transaction” means a transaction consisting of a loan from any Mississippi bank to finance an international pre-export or export, which in the judgment of the company will create or maintain employment in Mississippi and shall contain at least fifty percent (50%) of value added in goods or services at a location in Mississippi.

(e) “Guarantee” means additional security by the State of Mississippi for the eligible export trade transaction of any Mississippi business.

(f) “Business” means any person, corporation, partnership, proprietorship, association, organization or agency domiciled in the State of Mississippi.

(g) “Guarantee fee” means a fee charged by the Certified Development Company of Mississippi, Inc., for processing the guarantee.

(h) “Board” means the Mississippi Department of Economic Development operating through its executive director.

(i) “Commercial loss” means failure of the buyer to pay to the Mississippi business when due all or part of the gross invoice value of an eligible export trade transaction due to the insolvency of the buyer.

(j) “Political loss” means failure of the buyer to pay to the Mississippi business when due all or part of the gross invoice value of an eligible export trade transaction due to dollar transfer delays, war, revolution, license revocation or diversion of goods.
Miss. Code Ann. § 57-62-1 — MS Code / Title 57 / Chapter 10 / Section 62-1
Miss. Code Ann. § 57-62-1
Status: in_force

This chapter shall be known and may be cited as the “Mississippi Advantage Jobs Act.”
Miss. Code Ann. § 57-61-19 — MS Code / Title 57 / Chapter 5 / Section 61-19
Miss. Code Ann. § 57-61-19
Status: in_force

No loan shall be made to a municipality under this chapter unless the municipality certifies to the department, in a form satisfactory to the department, that it shall not discriminate against any employee or against any applicant for employment because of race, religion, color, national origin, sex or age.
Miss. Code Ann. § 57-103-3 — MS Code / Title 57 / Chapter 64 / Section 103-3
Miss. Code Ann. § 57-103-3
Status: in_force

(1) There is established under the direction of the Innovate Mississippi (“IMS”) a program to be known as the “Proof of Concept Loan Program” for the purpose of making assistance available to provide working capital to support the initial capitalization of technology-based businesses in Mississippi.

(2)(a) In order to be eligible for assistance under the program, a business must: (i) have its principal place of business based in Mississippi, and be a startup business, (ii) have rights to the intellectual property supporting the venture opportunity for which assistance is requested, (iii) demonstrate compelling evidence for rapid growth and high performance potential, (iv) be invited by IMS to apply for assistance based upon an agreeable scope of work.

(b) Any business desiring to participate in the program must submit an application to IMS. The application must contain a description of the purposes for which the assistance is requested, the amount of assistance requested and any other information requested by IMS. If IMS staff reviewing the application determines that an application should be reviewed by the Seed Fund Investment Board appointed by IMS Board of Directors, the application shall be forwarded to the Seed Fund Investment Board. If the Seed Fund Investment Board approves the application, IMS shall negotiate a contract with the business regarding any assistance provided to the business under the program, the expenditure of the assistance provided to the business, and any other matters to which the parties may agree. Any such contract must provide for at least the following: (i) that any assistance provided to the business will be on a reimbursement basis in which the business will expend funds according to the terms of the contract and submit invoices, receipts and other applicable documentation and information to IMS for reimbursement; (ii) that no funds may be expended or used for patent prosecution, reorganization of the business, or payment of any existing debt of the business outstanding or otherwise incurred at the time the contract is entered into; (iii) that no funds may be expended to reimburse expenses for work conducted or services provided by the business, a university or a third-party consultant if those expenses were incurred before the term of the contract; (iv) that the business receiving assistance will retain ownership of any technology developed by the business regardless of whether the technology is developed before or after the receipt of assistance; and (v) that the business will provide matching funding of One Dollar ($1.00) for every One Dollar ($1.00) of assistance, with at least twenty-five percent (25%) of the match being in cash and the remaining amount being from in-kind services, all of which must be documented by time sheets, payroll receipts, invoices and other documentation or information required by IMS. Assistance received by a business may be expended for hiring third-party consultants to assist the business and for equipment. The amount of assistance that a business may receive under the program shall not exceed Twenty-five Thousand Dollars ($25,000.00) and any award of assistance shall be made on a onetime basis.

(c) Except as otherwise provided in this paragraph, a business receiving assistance under the program shall be required to repay the assistance in the manner provided in this paragraph. Repayment shall be made through the use of a nonrecourse loan in which the business will repay the loan upon the successful commercialization of the product or service. The business will repay one hundred percent (100%) of the amount of assistance received if such repayment is made within thirty-six (36) months from the date the assistance is received, with the amount to be repaid by the business increasing at a rate determined by the parties in the contract up to an amount not to exceed two hundred percent (200%) of the amount of assistance if such repayment is made later than thirty-six (36) months from the date the assistance is received but not later than sixty (60) months from the date the assistance is received. Amounts received as repayments shall be deposited into the special fund created in subsection (3) of this section. Notwithstanding the preceding provisions of this paragraph, if the business receiving assistance fails to meet certain financial performance levels established in the contract between the business and IMS and the contract does not activate any repayment provisions, then IMS will deem the assistance provided to be a loss and the business receiving assistance shall not be required to repay the assistance received.

(3) There is created in the State Treasury a special fund, to be designated as the “Mississippi Proof of Concept Loan Program Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund. Monies in the fund shall be disbursed, in the discretion of the Mississippi Development Authority, to provide funds to IMS for the purposes described in this section, or for the purposes described in Sections 57-103-1 , 57-103-5 and/or 57-103-7 if IMS determines that the funds are not needed for the purposes described in this section.
Miss. Code Ann. § 57-57-7 — MS Code / Title 57 / Chapter 40 / Section 57-7
Miss. Code Ann. § 57-57-7
Status: in_force

The Certified Development Company of Mississippi, Inc., is hereby given the authority to create a committee to assist the company in implementing this chapter and establishing a source of guarantees and financial assistance to support export development, particularly to small business as defined in Section 503 of the Small Business Investment Act of 1958, as amended. The company is hereby authorized to:

(a) Utilize any funds not to exceed one million dollars ($ 1,000,000.00), authorized to be expended under Chapter 10, Title 57, Mississippi Code of 1972 .

(b) Provide a guarantee against political or commercial loss in whole or in part of the outstanding principal balance on any eligible export trade transaction. Such a guarantee may include, without limitation, the cost of insurance provided by the exporting business against loss up to a stated amount. The maximum amount payable under any guarantee shall be specifically set forth in writing, and shall not exceed seventy-five percent (75%) of the total principal amount. The amount of all outstanding loan guarantees shall not exceed five million dollars ($ 5,000,000.00) at any one (1) time. A reasonable and legal guarantee fee may be set by the company. Any guarantee entered into by the company hereunder shall not constitute a general obligation of the state of Mississippi. Any guarantee made by the company hereunder shall not be terminated, cancelled, or otherwise revoked except in accordance with the terms thereof; shall be conclusive evidence that such guarantee complies fully with the provisions of this chapter; and shall be valid and incontestable in the hands of a holder in due course of a guaranteed eligible export trade transaction.

(c) Prior to providing a guarantee, the participating bank shall make a thorough credit investigation of the exporting business in order to determine its viability, the economic benefits to be derived therefrom, the prospects for repayment, and such other facts as it deems necessary in order to determine that such a guarantee is consistent with the purpose of this chapter. The company shall provide a guarantee if, and only if and to the extent that, it determines that such a guarantee is reasonably necessary in order to stimulate or facilitate the making of the eligible export trade transaction, upon terms which will enable the export transaction to be reasonably competitive with export transactions in other states or in foreign countries, or such guarantee is reasonably necessary in order to stimulate or facilitate the sale or resale of such eligible export trade transaction to a holder in due course which would not otherwise purchase such eligible export trade transaction; provided, however, that the guarantee provided by the company to the bank shall be loaned to the business at a fixed interest rate and term as the company may from time to time require. The interest rate and term of such loan shall not be in violation of the 1947 General Agreement on Tariffs and Trade. The company may condition the provision of guarantee hereunder upon such terms and conditions as it may deem desirable to carry out the provisions of this chapter.
Miss. Code Ann. § 57-34-5 — MS Code / Title 57 / Chapter 23 / Section 34-5
Miss. Code Ann. § 57-34-5
Status: in_force

As used in this chapter, the following words and phrases shall have the meanings ascribed to them in this section, unless the context clearly indicates a different meaning:

(a) “ Act ” means the provisions of this chapter.

(b) “ Authority ” means the Alabama-Mississippi Joint Economic Development Authority created pursuant to this chapter.

(c) “ Board of directors ” means the board of directors of the authority.

(d) “ Designated geographic area ” means:

(i) Those counties in the State of Alabama that share a common border with any county in the State of Mississippi; and

(ii) Those counties in the State of Mississippi that share a common border with any county in the State of Alabama.

(e) “ Herein ,” “ hereby ,” “ hereunder ,” “ hereof ” and other equivalent words refer to this chapter as an entirety and not solely to the particular section or portion thereof in which any such word is used.

(f) “ Project ” means:

(i) Any industrial, commercial, research and development, warehousing, distribution, transportation, processing, mining, United States government or tourism enterprise together with all real property required for construction, maintenance and operation of the enterprise:

1. With an initial capital investment of not less than Three Hundred Million Dollars ($ 300,000,000.00) from private or United States government sources together with all buildings, and other supporting land and facilities, structures or improvements of whatever kind required or useful for construction, maintenance and operation of the enterprise; or

2. With an initial capital investment of not less than One Hundred Fifty Million Dollars ($ 150,000,000.00) from private or United States government sources together with all buildings and other supporting land and facilities, structures or improvements of whatever kind required or useful for construction, maintenance and operation of the enterprise and which creates at least one thousand (1,000) net new full-time jobs; or

3. Which creates at least one thousand (1,000) net new full-time jobs which provide an average hourly wage of not less than two hundred percent (200%) of the federal minimum wage in effect on the date the project is placed in service.

(ii) Any addition to, or expansion of, any existing enterprise as described in this paragraph if the addition or expansion:

1. Has an initial capital investment of not less than Three Hundred Million Dollars ($ 300,000,000.00) from private or United States government sources;

2. Has an initial capital investment of not less than One Hundred Fifty Million Dollars ($ 150,000,000.00) from private or United States government sources together with all buildings and other supporting land and facilities, structures or improvements of whatever kind required or useful for construction, maintenance and operation of the enterprise and which creates at least one thousand (1,000) net new full-time jobs; or

3. Creates at least one thousand (1,000) net new full-time jobs which provide an average hourly wage of not less than two hundred percent (200%) of the federal minimum wage in effect on the date the project is placed in service.

(iii) Any development with an initial capital investment from private sources of not less than Seven Hundred Fifty Million Dollars ($ 750,000,000.00) which will create at least three thousand (3,000) net new full-time jobs satisfying criteria to be established by the authority.

In addition to meeting the other requirements of this paragraph, in order to fall within the definition of the term “ project ”:

(i) The enterprise or development must be located within the designated geographic area; and

(ii) Each state must provide funds or in kind contributions equal to at least one-third ( 1 / 3 ) of the total costs of the project to the states.

(g) “ Project agreement ” means an agreement, approved by the legislature of the states, setting forth certain obligations, responsibilities, benefits, administrative matters and any other matters with respect to a specific project that are not inconsistent with the terms of this chapter as the legislatures of the states deem appropriate with respect to a specific project.

(h) “ Project tax revenues ” means:

(i) All of the following state and local taxes paid directly to a state or a local government by the project: income taxes, ad valorem taxes on real and personal property, sales and use taxes, franchise taxes, license taxes, excise taxes and severance taxes; and

(ii) All state and local personal income tax and occupational tax withholdings from employees of the project attributable to employment at the project.

(i) “ States ” means the State of Alabama and the State of Mississippi collectively.
Miss. Code Ann. § 57-49-17 — MS Code / Title 57 / Chapter 39 / Section 49-17
Miss. Code Ann. § 57-49-17
Status: in_force

The board shall promote and coordinate educational programs which provide information on the nature of high-level radioactive waste and transuranic waste, the long-term or temporary storage and/or permanent disposal of these wastes, the activities of the board, the council and the committee, the activities of the federal department of energy and other federal agencies related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste.
Miss. Code Ann. § 57-67-1 — MS Code / Title 57 / Chapter 67 / Section 67-1
Miss. Code Ann. § 57-67-1
Status: in_force

This chapter shall be known and may be cited as the “Mississippi Superconducting Super Collider Act.”
Miss. Code Ann. § 57-44-37 — MS Code / Title 57 / Chapter 13 / Section 44-37
Miss. Code Ann. § 57-44-37
Status: in_force

The State Treasurer is authorized to certify to the Department of Finance and Administration the necessity for warrants, and the Executive Director of the Department of Finance and Administration is authorized and directed to issue such warrants, in such amounts as may be necessary to pay when due the principal of, premium, if any, and interest on, or the accreted value of, all bonds issued under Sections 57-44-11 through 57-44-39 ; and the State Treasurer shall forward the necessary amount to the designated place or places of payment of such bonds in ample time to discharge such bonds, or the interest thereon, on the due dates thereof.
Miss. Code Ann. § 57-44-39 — MS Code / Title 57 / Chapter 3 / Section 44-39
Miss. Code Ann. § 57-44-39
Status: in_force

Sections 57-44-11 through 57-44-39 shall be deemed to be full and complete authority for the exercise of the powers herein granted, but this chapter shall not be deemed to repeal or to be in derogation of any existing law of this state.
Miss. Code Ann. § 57-99-3 — MS Code / Title 57 / Chapter 77 / Section 99-3
Miss. Code Ann. § 57-99-3
Status: in_force

(1) Except as otherwise provided in this section, a qualified business or industry that meets the qualifications specified in Sections 57-99-1 through 57-99-9 may receive quarterly incentive payments for a period not to exceed twenty-five (25) years from the Department of Revenue pursuant to the provisions of Sections 57-99-1 through 57-99-9 in an amount which shall be equal to the lesser of three and one-half percent (3- 1 / 2 %) of the wages and taxable benefits for qualified jobs or the actual amount of Mississippi income tax withheld by the employer for the qualified jobs. A qualified business or industry may elect the date upon which the incentive rebate period will begin. Such date may not be later than sixty (60) months after the date the business or industry applied for incentive payments; however, in the case of a qualified business or industry described in Section 57-99-1(a)(ii) , such date may not be later than seventy-two (72) months after the date the business or industry applied for incentive payments, or for a qualified business or industry described in Section 57-99-1(a)(iv) , such date may not be later than the date that is sixty (60) months after the earlier of:

(a) The date the qualified business or industry applied for incentive payments; or

(b) The start of commercial production as defined in a definitive agreement between such qualified business or industry and the MDA.

(2) In order to receive incentive payments, an establishment shall apply to the MDA. The application shall be on a form prescribed by the MDA and shall contain such information as may be required by the MDA to determine if the applicant is qualified.

(3) In order to qualify to receive such payments, the establishment applying shall be required to:

(a) Be engaged in a qualified business or industry; and

(b) The business or industry must create and maintain the minimum number of qualified jobs as set forth in Section 57-99-1 . Establishments that are approved as a qualified business or industry under Sections 57-99-1 through 57-99-9 may not receive incentive payments under Section 57-62-1 et seq.

(4) Upon approval of such an application, the MDA shall notify the Department of Revenue and shall provide it with a copy of the approved application. The Department of Revenue may require the qualified business or industry to submit such additional information as may be necessary to administer the provisions of Sections 57-99-1 through 57-99-9 . The qualified business or industry shall report to the Department of Revenue periodically to show its continued eligibility for incentive payments. The qualified business or industry may be audited by the Department of Revenue to verify such eligibility.

(5) Notwithstanding any other provision of Sections 57-99-1 through 57-99-9 to the contrary, from and after January 1, 2023, if the amount of the incentive payments that a qualified business or industry is eligible to receive under Sections 57-99-1 through 57-99-9 is less than the amount that the incentive payments would have been if the payments had been calculated using any applicable income tax rates in Section 27-7-5 that were in effect before January 1, 2023, then the qualified business or industry also shall receive a grant equal to the difference between such two (2) amounts. Further, the term “incentive payment,” as such term is used in Sections 57-99-1 through 57-99-9 , shall be deemed to not refer to or otherwise include any grant payment payable to a qualified business or industry pursuant to this subsection.
Miss. Code Ann. § 57-10-157 — MS Code / Title 57 / Chapter 4 / Section 10-157
Miss. Code Ann. § 57-10-157
Status: in_force

Member agencies and institutions which are included in the Small Business Consortium are as follows:

(a) Department of Economic Development;

(b) Governor's Office of Federal-State Programs;

(c) All state-supported universities; and

(d) All public junior colleges.

Other agencies or institutions serving small business may be added or deleted from the consortium by a two-thirds ( 2 / 3 ) vote of the consortium board.
Miss. Code Ann. § 57-23-15 — MS Code / Title 57 / Chapter 18 / Section 23-15
Miss. Code Ann. § 57-23-15
Status: in_force

The institute personnel may at their discretion, and subject to approval of the proper administrative authorities at the University of Mississippi, do research on a contract on project basis for industries, governmental agencies, public or private organizations or corporations, or any others, at a price and on a basis to be determined by the aforesaid personnel. The proceeds derived from such research project shall be used, in addition to other funds provided therefor, for the operation and support of the institute.
Miss. Code Ann. § 57-91-5 — MS Code / Title 57 / Chapter 79 / Section 91-5
Miss. Code Ann. § 57-91-5
Status: in_force

As used in this chapter, the following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise:

(a) “ Business enterprise ” means any permanent business enterprise locating or relocating within a redevelopment project area, including, without limitation:

(i) Industry for the manufacturing, processing, assembling, storing, warehousing, servicing, distributing or selling of any products or goods, including products of agriculture;

(ii) Enterprises for research and development, including, but not limited to, scientific laboratories;

(iii) Industry for the retail sale of goods and services;

(iv) The industry for recreation and hospitality, including, but not limited to, restaurants, hotels and sports facilities; and

(v) Such other businesses or industry as will be in furtherance of the public purposes of this chapter as determined by the MDA.

The term “business enterprise” shall not include gaming businesses, or medical cannabis establishments as defined in the Mississippi Medical Cannabis Act.

(b) “ Contaminated site ” means real property that is either (i) subject to a bankruptcy court order in which the property has been abandoned from the bankruptcy estate, or (ii) Brownfield property that is subject to a Brownfield agreement under Section 49-35-11 , and the expansion, redevelopment or reuse of which is complicated by the presence or potential presence of a hazardous substance, pollutant or contaminant.

(c) “ County ” means any county of this state.

(d) “ Developer ” means any person who assumes certain environmental liability at a contaminated site and enters into an agreement with a redevelopment county or municipality whereby the developer agrees to undertake a redevelopment project. “ Developer agreement ” means said agreement.

(e) “ Governing body ” means the board of supervisors of any county or the governing board of a municipality.

(f) “ Law ” means any act or statute, general, special or local, of this state.

(g) “ MDA ” means the Mississippi Development Authority.

(h) “ MDEQ ” means the Mississippi Department of Environmental Quality.

(i) “ Municipality ” means any incorporated municipality in the state.

(j) “ Person ” means a natural person, partnership, association, corporation, business trust or other business entity.

(k) “ Redevelopment counties and municipalities ” means those counties or municipalities which meet the requirements of this chapter and which have by resolution or order designated a redevelopment project area and given its consent to participate in the program established under this chapter.

(l) “ Redevelopment project ” means a project that combines remediation of a contaminated site with the planned development of such site and surrounding land in a manner conducive to use by the public or business enterprises including the construction of recreational facilities.

(m) “ Redevelopment project area ” means the geographic area defined by resolution of the county or municipality within which the remediation and planned development will take place containing the contaminated site and additional surrounding and adjacent land and waterfront, not exceeding six hundred fifty (650) acres, suitable for development.

(n) “ Resolution ” means an order, resolution, ordinance, act, record of minutes or other appropriate enactment of a governing body.

(o) “ State taxes and fees ” means any sales tax imposed on the sales or certain purchases by a business enterprise pursuant to law within a redevelopment project area, all income tax imposed pursuant to law on income earned by the approved business enterprise within a redevelopment project area and all franchise tax imposed pursuant to law on the value of capital used, invested or employed by the approved business enterprise in a redevelopment project area.
Miss. Code Ann. § 57-27-9 — MS Code / Title 57 / Chapter 23 / Section 27-9
Miss. Code Ann. § 57-27-9
Status: in_force

The board and/or regional tourist promotion council are hereby authorized to accept gifts, grants or donations from the federal government or agencies thereof, and from private individuals, foundations or concerns to be used in furtherance of the purposes of this chapter.

The board shall annually review the amount of funds appropriated by the Mississippi Legislature, and other funds that may be available therefor, and shall apportion said funds to various participating regional tourist promotion councils for grant purposes on the following basis: Twenty percent (20%) shall be apportioned to each of the five (5) congressional districts. If, at the end of a six (6) month period, an area has not applied for the full amount allocated to it, the money shall be reallocated to the other areas during the last six (6) months of the fiscal year for use in compliance with the provisions of this chapter.
Miss. Code Ann. § 57-103-1 — MS Code / Title 57 / Chapter 79 / Section 103-1
Miss. Code Ann. § 57-103-1
Status: in_force

(1) There is established under the direction of Innovate Mississippi (“IMS”) a program to be known as the “Research and Development Program” for the purpose of making assistance available for seed and early stage capital to small and medium sized Mississippi businesses with high growth potential that are engaged in research and development activities with a Mississippi university, college and/or community/junior college.

(2)(a) In order to be eligible for assistance under the program, a business must: (i) have its principal place of business based in Mississippi, (ii) produce or provide a product and/or service that is science or technology related, (iii) have completed its product and/or service development planning, and (iv) develop technology-based business opportunity in partnership with a Mississippi university, college and/or community/junior college.

(b) Any business desiring to participate in the program must submit an application to IMS. The application must contain a technical brief and project plan for the commercialization of the technology developed or proposed for development by the business and any other information requested by IMS. If IMS staff reviewing the application determines that an application should be reviewed by the Seed Fund Investment Board appointed by IMS Board of Directors, the application shall be forwarded to the Seed Fund Investment Board. If the Seed Fund Investment Board approves the application, IMS shall negotiate a contract with the business regarding any assistance provided to the business under the program, the expenditure of assistance provided to the business, repayment of assistance by the business, and any other matters to which the parties may agree. Any such contract must provide for at least the following: (i) that any assistance provided to the business will be on a reimbursement basis in which the business will expend funds according to the terms of the contract and submit invoices, receipts and other applicable documentation and information to IMS for reimbursement; (ii) that no funds may be expended or used for patent prosecution, reorganization of the business, or payment of any existing debt of the business outstanding or otherwise incurred at the time the contract is entered into; (iii) that no funds may be expended to reimburse expenses for work conducted or services provided by the business, a university or a third-party consultant if those expenses were incurred before the term of the contract; (iv) that at least fifty-one percent (51%) of the funds received by the business must be expended with a Mississippi university, college and/or community/junior college with which the business has a contract for research and development or technology development work or services; (v) that IMS will pay not more than ten percent (10%) of overhead expenses for the business and/or the university, college and/or community/junior college; (vi) that the business will provide matching funding of One Dollar ($1.00) for every One Dollar ($1.00) of assistance, with at least fifty percent (50%) of the match being in cash and the remaining amount being from in-kind services, all of which must be documented by time sheets, payroll receipts, invoices and other documentation or information required by IMS; and (vii) that the business receiving assistance will retain ownership of any technology developed by the business before the start of the project for which assistance is received, and that rights to new intellectual property developed as a result of the project will be subject to mutually agreed upon terms and conditions of the collaborative research agreement executed by the business and the university, college and/or community/junior college before the start of the project. Assistance received by a business and not expended for purposes required in the contract between the business and IMS may be expended for hiring third-party consultants to assist the business, working capital, marketing, prototype development and equipment. The amount of assistance that a business may receive under the program shall not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate.

(c) Except as otherwise provided in this paragraph, a business receiving assistance under the program shall be required to repay the assistance in the manner provided in this paragraph. Repayment shall be made through the use of a convertible note in which the business will repay one hundred percent (100%) of the amount of assistance received if such repayment is made within thirty-six (36) months from the date the assistance is received, with the amount to be repaid by the business increasing at a rate determined by the parties in the contract up to an amount not to exceed two hundred percent (200%) of the amount of assistance if such repayment is made later than thirty-six (36) months from the date the assistance is received but not later than sixty (60) months from the date the assistance is received. IMS shall have the option of converting the amount of assistance awarded to the business into common stock of the business or into a royalty in the gross sales of the business. Amounts received as repayments shall be deposited into the special fund created in subsection (3) of this section. Notwithstanding the preceding provisions of this paragraph, if the business receiving assistance fails to meet certain financial performance levels established in the contract between the business and IMS and the contract does not activate any repayment provisions, then IMS will deem the assistance provided to be a loss and the business receiving assistance shall not be required to repay the assistance received.

(3) There is created in the State Treasury a special fund, to be designated as the “Research and Development Program Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund. Monies in the fund shall be disbursed, in the discretion of the Mississippi Development Authority, to provide funds to IMS for the purposes described in this section, or for the purposes described in Sections 57-103-3 , 57-103-5 and/or 57-103-7 if IMS determines that the funds are not needed for the purposes described in this section.
Miss. Code Ann. § 57-73-29 — MS Code / Title 57 / Chapter 73 / Section 73-29
Miss. Code Ann. § 57-73-29
Status: in_force

The Department of Economic Development is authorized to promulgate reasonable rules and regulations necessary to accomplish its duties under Chapter 524, Laws, 1989.
Miss. Code Ann. § 57-10-223 — MS Code / Title 57 / Chapter 1 / Section 10-223
Miss. Code Ann. § 57-10-223
Status: in_force

Whenever federal law requires public hearings and public approval as a prerequisite to obtaining federal tax exemption for the interest paid on industrial development bonds under Section 141 of the Revenue Code, unless otherwise specified by federal law or regulation, the public hearing for industrial development bonds of the company shall be conducted by the company and the procedure for the public hearing and public approvals shall be as follows:

(a) For a public hearing by the company;

(i) Notice of the hearing shall be published at least once in a newspaper published or having general circulation in the municipality in which the facility to be financed is to be located, or having general circulation in the state, of intention to provide financing for a named applicant. The applicant shall pay the cost of notification. The notice shall specify the time and place of hearing at which persons may appear and present their views. The hearing shall be held not less than fourteen (14) days after the notice shall appear in such newspaper. The hearing may be held at any place within the state determined by the company;

(ii) The notice shall contain (A) the name and address of the company; (B) the name and address of the principal place of business, if any, of the applicant seeking financing; (C) the maximum dollar amount of financing sought; and (D) the type of business and purpose and specific location of the facility to be financed.

(b) For public approval, the Governor or State Treasurer is appointed by this article as the applicable elected representative within the meaning of Section 147(f) of the Revenue Code.
Miss. Code Ann. § 57-55-1 — MS Code / Title 57 / Chapter 19 / Section 55-1
Miss. Code Ann. § 57-55-1
Status: in_force

This chapter may be cited as the “Universities Research Institutes Act of 1983.”
Miss. Code Ann. § 57-61-3 — MS Code / Title 57 / Chapter 10 / Section 61-3
Miss. Code Ann. § 57-61-3
Status: in_force

It is the purpose of this chapter to promote business and economic development in the State of Mississippi through job producing programs and by providing loans to municipalities as defined in this chapter; to assist in securing strategic investments and/or investments in small communities by private companies locating or expanding in the state; to promote the improvement and enhancement of facilities utilized in foreign and domestic commerce to and from Mississippi through state-owned ports and to provide loans to state agencies as defined in this chapter, for the construction and development of harbor, channel and port facilities; and to authorize the issuance of state bonds or notes for funding of said programs.
Miss. Code Ann. § 57-10-421 — MS Code / Title 57 / Chapter 5 / Section 10-421
Miss. Code Ann. § 57-10-421
Status: in_force

In addition to the requirements provided for in Section 57-10-419 , any resolution authorizing the issuance of bonds under Sections 57-10-401 through 57-10-445 may contain provisions as to:

(a) The setting aside of reserves or sinking funds and the regulations and disposition thereof;

(b) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding or other bonds;

(c) The procedure, if any, by which the terms of any of the proceedings under which the bonds are being issued may be amended or abrogated, the number or percentage of bondholders who or which must consent thereto, and the manner in which the consent may be given;

(d) The vesting in a trustee or trustees of such property, rights, powers and duties in trust as the company may determine, and limiting or abrogating the right of bondholders to appoint a trustee or limiting the rights, powers and duties of the trustee;

(e) Defining the act or omissions to act which shall constitute a default and the obligations or duties of the corporation to the holders of the bonds, and providing for the rights and remedies of the holders of the bonds in the event of default, which rights and remedies may include the general laws of the state and other provisions of Sections 57-10-401 through 57-10-445 ; or

(f) Any other matter, of like or different character, which in any way affects the security or protection of the holders of the bonds.
Miss. Code Ann. § 57-33-3 — MS Code / Title 57 / Chapter 31 / Section 33-3
Miss. Code Ann. § 57-33-3
Status: in_force

No section, article or provision contained herein shall be construed so as to prohibit, restrict or restrain the action of any individual member state, or the action of any county or municipal government within the boundaries of any individual member state, nor shall any delegate from the State of Mississippi be authorized by this legislature to cast any vote that would in any manner restrict the sovereign rights presently granted to or retained by this state under the United States Constitution or the rights of any local governments granted by the Constitution of the State of Mississippi or by statutory acts of the legislature.
Miss. Code Ann. § 57-71-15 — MS Code / Title 57 / Chapter 67 / Section 71-15
Miss. Code Ann. § 57-71-15
Status: in_force

The Certified Development Company of Mississippi, Inc., is hereby authorized to engage legal services, financial advisors, appraisers and consultants if needed to review and close loans made pursuant to this act. The costs of such professionals shall be paid by the borrower or from loan proceeds as determined and approved by the company.
Miss. Code Ann. § 57-71-3 — MS Code / Title 57 / Chapter 63 / Section 71-3
Miss. Code Ann. § 57-71-3
Status: in_force

It is the purpose of this act to promote business and economic development in the State of Mississippi through job producing programs and by providing loans to the Certified Development Company of Mississippi, Inc., as defined in this act; to assist in securing investment in small communities by private companies locating or expanding in the state; and to authorize the issuance of state bonds or notes for funding such programs.
Miss. Code Ann. § 57-34-15 — MS Code / Title 57 / Chapter 34 / Section 34-15
Miss. Code Ann. § 57-34-15
Status: in_force

The provisions of this chapter shall be severable, and if any phrase, clause, sentence or provision of this chapter is declared unconstitutional or the application thereof to any agency, person or circumstance is held invalid, the constitutionality of the remainder of this chapter and the applicability thereof to any other agency, person or circumstance shall not be affected thereby. It is the legislative intent that the provisions of this chapter be reasonably and liberally construed so as to accomplish the purposes set forth in Section 57-34-3 of this chapter.
Miss. Code Ann. § 57-44-31 — MS Code / Title 57 / Chapter 40 / Section 44-31
Miss. Code Ann. § 57-44-31
Status: in_force

All bonds issued under the provisions of Sections 57-44-11 through 57-44-39 shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.
Miss. Code Ann. § 57-55-19 — MS Code / Title 57 / Chapter 31 / Section 55-19
Miss. Code Ann. § 57-55-19
Status: in_force

The said board of trustees shall provide for such housing, equipment, personnel, supplies and services as it shall determine to be necessary for the proper operation and maintenance of the research institutions established by this chapter, having due regard for the contributory facilities and programs already existing at the various universities. In addition to appropriations made by the Mississippi legislature for the operation and support of the research institutions, the said board of trustees is authorized and empowered to receive contributions, donations, gifts and grants of money or other income and/or property, equipment, materials or manpower from persons, foundations, trust funds, corporations, organizations and other sources, to be expended by said board in carrying out the objectives of this chapter.
Miss. Code Ann. § 57-40-5 — MS Code / Title 57 / Chapter 35 / Section 40-5
Miss. Code Ann. § 57-40-5
Status: in_force

(1) There is created a special fund in the State Treasury to be designated as the “Energy Infrastructure Revolving Loan Fund,” which shall consist of such money authorized to be deposited into such fund from any source. The fund shall be maintained in perpetuity for the purposes established in this chapter. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited to the credit of the fund. Money in the fund may not be used or expended for any purpose except as authorized under this chapter.

(2) A county or an incorporated municipality may apply to the MDA for a loan under the energy infrastructure revolving loan program established under this chapter.

(3)(a) The MDA shall establish a loan program by which loans, at the rate of interest set by the MDA, may be made available to counties and incorporated municipalities for the purposes provided in Section 57-40-3 .

(b) Loans from the revolving fund may be made to counties and municipalities as set forth in a loan agreement in amounts not to exceed one hundred percent (100%) of eligible costs as established by the MDA. The MDA may require county, municipal or private participation or funding from other sources, or otherwise limit the percentage of costs covered by loans from the revolving loan fund. The MDA may establish a maximum amount for any loan. Loan repayments shall be deposited into the revolving loan fund.

(4) A county that receives a loan from the revolving fund shall pledge for repayment of the loan any part of the homestead exemption annual tax loss reimbursement to which it may be entitled under Section 27-33-77 . An incorporated municipality that receives a loan from the revolving fund shall pledge for repayment of the loan any part of the sales tax revenue distribution to which it may be entitled under Section 27-65-75 . Each loan agreement shall provide for (i) monthly payments, (ii) semiannual payments, or (iii) other periodic payments. The loan agreement shall provide for the repayment of all funds received within not more than twenty (20) years from the date of project completion.

(5) Prior to the execution of a loan agreement, relevant parties to the project shall enter into an agreement, in a manner acceptable to MDA, that stipulates the terms of the energy infrastructure investment and responsibilities among parties.

(6) The State Auditor, upon request of the MDA, shall audit the receipts and expenditures of a county or an incorporated municipality whose loan payments appear to be in arrears, and if he finds that the entity is in arrears in such payments, he shall immediately notify the Executive Director of the Department of Finance and Administration who shall withhold all future payments to the county of homestead exemption reimbursements under Section 27-33-77 and all sums allocated to the county or the municipality under Section 27-65-75 until such time as the county or the municipality is again current in its loan payments as certified by the MDA.

(7) Evidences of indebtedness which are issued pursuant to this chapter shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties.
Miss. Code Ann. § 57-46-1 — MS Code / Title 57 / Chapter 31 / Section 46-1
Miss. Code Ann. § 57-46-1
Status: in_force

(1)(a) There is created a special fund in the State Treasury to be known as the Mississippi Railroad Improvements Fund which shall consist of monies from any source designated for deposit into the fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be disbursed by the Mississippi Development Authority (MDA) for the purposes authorized in subsection (2) of this section.

(b) Monies in the fund that are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the MDA in providing grants under this section through the use of general obligation bonds. An accounting of actual costs incurred for which reimbursement is sought shall be maintained for each grant by the MDA. Reimbursement of reasonable actual and necessary costs for assistance shall not exceed three percent (3%) of the proceeds of bonds issued for such assistance. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements.

(2) The MDA shall establish a program to make grants to short line railroads from the Mississippi Railroad Improvements Fund to assist in paying a portion of the costs associated with the repair, rehabilitation, construction, reconstruction, upgrading and improvement of railroad lines and related facilities, including projects necessary to ensure safety and structural integrity of rail lines, rail beds and bridges.

(3)(a) A short line railroad desiring a grant under this section shall submit an application to the MDA which shall include, at a minimum:

(i) A description, including the cost, of the requested assistance;

(ii) A description of the purpose for which the assistance is requested; and

(iii) Any other information required by the MDA.

(b) The MDA shall have sole discretion in providing grants under this section. The terms of a grant shall be within the discretion of the MDA.

(4) The MDA shall have all powers necessary to implement and administer the program established under this section, including the establishing of requirements for matching funds and criteria regarding the evaluation of applications for assistance. The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation and administration of this section.
Miss. Code Ann. § 57-77-33 — MS Code / Title 57 / Chapter 63 / Section 77-33
Miss. Code Ann. § 57-77-33
Status: in_force

(1) The seller is authorized to borrow, on the credit of the state, money not exceeding the aggregate sum of Twenty Million Dollars ($ 20,000,000.00). Such borrowing may be evidenced by the issuance of bonds or notes, and the rate of interest on any such bonds or notes which are not subject to taxation shall not exceed the rates set forth in Section 75-17-101, Mississippi Code of 1972 , for general obligation bonds.

(2) As evidence of indebtedness authorized in this chapter, general or limited obligation bonds or notes of the state shall be issued from time to time to provide monies necessary to carry out the purposes of this chapter for such total amount, in such form, in such denominations, payable in such currencies (either domestic or foreign or both), and subject to such terms and conditions of issue, redemption and maturity, rate of interest and time of payment of interest as the seller directs, except that such bonds shall mature or otherwise be retired in annual installments beginning not more than five (5) years from date thereof and extending not more than twenty (20) years from the date thereof.

(3) All bonds and notes issued under authority of this chapter shall be signed by the chairman of the seller, or by his facsimile signature, and the official seal of the seller shall be affixed thereto, attested by the secretary of the seller.

(4) All bonds and notes issued under authority of this chapter may be general or limited obligations of the state, and the full faith and credit of the State of Mississippi as to general obligation bonds, or the revenue derived from projects assisted as to limited obligation bonds, are hereby pledged for the payment of the principal of and interest on such bonds and notes.

(5) Such bonds and notes and the income therefrom shall be exempt from all taxation in the State of Mississippi.

(6) Bonds may be issued as coupon bonds or registered as to both principal and interest as the seller may determine. If interest coupons are attached, they shall contain the facsimile signature of the chairman and the secretary of the seller.

(7) As to bonds issued hereunder and designated as taxable bonds by the seller, any immunity of the state to taxation by the United States government of interest on bonds or notes issued by the state is hereby waived.
Miss. Code Ann. § 57-44-37 — MS Code / Title 57 / Chapter 9 / Section 44-37
Miss. Code Ann. § 57-44-37
Status: in_force

The State Treasurer is authorized to certify to the Department of Finance and Administration the necessity for warrants, and the Executive Director of the Department of Finance and Administration is authorized and directed to issue such warrants, in such amounts as may be necessary to pay when due the principal of, premium, if any, and interest on, or the accreted value of, all bonds issued under Sections 57-44-11 through 57-44-39 ; and the State Treasurer shall forward the necessary amount to the designated place or places of payment of such bonds in ample time to discharge such bonds, or the interest thereon, on the due dates thereof.
Miss. Code Ann. § 57-27-7 — MS Code / Title 57 / Chapter 21 / Section 27-7
Miss. Code Ann. § 57-27-7
Status: in_force

(1) The travel and tourism department of the board is hereby authorized, upon approval of the board, to make grants, from funds specifically appropriated for such purposes, to regional tourist promotion councils to assist such councils in the financing of promotional and advertising programs and to encourage and stimulate tourist travel and vacation business within the region. Provided, that before any such grant may be made, the regional tourist promotional council shall have made application to the board for such grant, and shall have set forth therein the promotion and advertising program and project, or projects, proposed to be undertaken for the purpose of encouraging and stimulating the tourist travel and vacation business within the region. The application shall further state, under oath or affirmation, the amount of funds held by or committed or subscribed to the regional tourist promotion council for application to the purposes herein described and the amount of the grant for which application is made.

(2) The board, after review of the application, if satisfied that the program of the regional tourist promotion council appears to be in accord with the purposes of this chapter, shall authorize the making of a matching grant to such regional tourist promotion council equal to the funds of the council allocated by it to the program described in the application; provided, however, that the state grant shall not exceed an amount equal to the total amount apportioned to the region as outlined herein.
Miss. Code Ann. § 57-39-11 — MS Code / Title 57 / Chapter 39 / Section 39-11
Miss. Code Ann. § 57-39-11
Status: in_force

The division shall be tasked with developing, implementing and refining over time the Mississippi Energy Plan. The Mississippi Energy Plan shall include, but not be limited to the following:

(a) Efforts to promote Mississippi as a leader in energy development, job creation and research;

(b) Plans to encourage the safe and responsible exploration and extraction of the state's natural resources;

(c) Plans to add value and sustain resources through advances in manufacturing, conversion, and processing related to energy consumption and generation;

(d) Expanding energy capacity and realizing savings through energy efficiency;

(e) Encourage investments in the energy infrastructure of transmission and distribution to maintain the state's leadership in this area;

(f) Plans to ensure the state competes in technology-based energy economic development, research and development, and commercialization;

(g) Prepare a twenty-first century energy workforce;

(h) Statewide forecasts of energy needs and deficiencies;

(i) A program for directing the expenditure of local, state and federal energy funds in conformity with the statewide plan;

(j) Statewide implementation program, including a schedule of improvement programs, an operations program, a financial plan, necessary policies and legislation for implementation of the energy plan; and

(k) Financial impact statement.