Miss. Code Ann. § 57-32-5 — MS Code / Title 57 / Chapter 10 / Section 32-5
Miss. Code Ann. § 57-32-5
Status: in_force

(1) The council may do anything within its power, not inconsistent with this chapter, to secure and further industrial and economic development of said counties, to advertise the natural resources and possibilities of the same, and to maintain and support the same.

(2) The council is hereby expressly authorized and empowered to acquire by gift, purchase or otherwise, and to own, hold, maintain, control and develop real estate situated within the participating counties, either within or without the corporate limits of a municipality, for development, use and operation of one or more industrial park complexes referred to herein as “project”; and is further authorized and empowered to engage in works of internal improvement therefor, including, but not limited to, construction or contracting for the construction of railroad spur tracks, site improvements, water, sewerage, drainage, pollution control and other related facilities necessary or required for industrial use and development of said park complexes; and to acquire, purchase, install, lease, construct, own, hold, equip, control, maintain, use, operate and repair other structures and facilities necessary and convenient for the planning, development, use, operation and maintenance of said parks for industrial purposes, including, but not limited to, utility installations, except those communications and electric power utilities already certificated in the area by the Mississippi Public Service Commission, elevators, compressors, warehouses, and air, rail and other transportation terminals and pollution control facilities. For the development of such projects, the council, in its own name, is authorized and empowered to borrow money and contract for the borrowing of money, from time to time, as it may deem appropriate, and to pay interest upon such borrowed funds in such amount as it may negotiate, however, not exceeding such amount of interest as may be allowed to be paid under the provisions of Section 19-9-19 , and to give as security for the payment of such indebtednesses deeds of trust or mortgages on all or any part of the real estate purchased, improved or benefited by the funds so borrowed. The council may, likewise, pledge the proceeds and revenues from any such project for the repayment of funds so borrowed. The pledge of any real estate or income from real estate held by the council shall be done only by order spread upon the minutes of said council after the affirmative vote of not less than two-thirds ( 2 / 3 ) of the members of the council. There shall be no personal liability of any member of said council for failure in the repayment of funds so borrowed.

(3) The council is authorized and empowered to sell, lease, trade, exchange or otherwise dispose of industrial sites situated within any of such projects to individuals, firms or corporations, public or private, for industrial and warehouse use upon such terms and conditions, for such consideration, and with such safeguards as will best promote and protect the public interest, convenience and necessity, and to execute deeds, leases, contracts, easements and other legal instruments necessary or convenient therefor. The council is granted the power to sue and be sued in its own name.

(4) Any industrial lease may be executed upon such terms and conditions and for such monetary rental or other consideration as may be found to be in the best interest of the public by the council by order or resolution spread upon its minutes authorizing the same. Any covenants and obligations of the lessee to make expenditures in determined amounts, and within such time or times, for improvements to be erected on the land by such lessee and to conduct thereon industrial or warehouse operations in such aggregate payroll amounts and for such period of time or times as may be determined and defined in such lease, and to give preference in employment where practicable to qualified residents of the counties constituting the council may, when included in such lease, constitute and be deemed sufficient consideration for the execution of any such lease in the absence of a monetary rental or other considerations, if found by the council and the board of supervisors of the affected county to be sufficient consideration and in the best interest of the public; any such instrument may contain reasonable provisions giving the lessee the right to remove its or his improvements upon termination of the lease.

(5) The council is authorized and empowered to fix and prescribe fees, charges and rates for the use of any water, sewerage, pollution control or other facilities constructed and operated in connection with said industrial parks and to collect the same from persons, firms and corporations using the same for industrial, warehouse and related purposes.

(6) Upon organization, the council is authorized and empowered to employ engineers, attorneys, accountants, technicians and consultants upon a fee or retainer basis, and such executive and administrative personnel and other employees as shall be reasonably necessary to carry out the duties and authority authorized by this chapter, and to determine their qualifications and duties and to establish compensation and other employment benefits as may be advisable to attract and retain proficient personnel. The council, in addition to all other authority, is authorized and empowered to purchase, sell and trade office equipment, to purchase necessary supplies, to purchase such equipment and vehicles as the council deems necessary for the economic and industrial development of the member counties and to carry out the purposes of this chapter.

(7) The enumeration of any specific rights and powers contained herein, and elsewhere in this chapter, where followed by general powers, shall not be construed in a restrictive sense, but rather in as broad and comprehensive a sense as possible to effectuate the purposes of this chapter.
Miss. Code Ann. § 57-47-9 — MS Code / Title 57 / Chapter 27 / Section 47-9
Miss. Code Ann. § 57-47-9
Status: in_force

The departments, agencies and officers of the state and its subdivisions are hereby authorized to cooperate with the Southeast Interstate Low-Level Radioactive Waste Commission in the furtherance of any of its activities pursuant to the compact.
Miss. Code Ann. § 57-47-9 — MS Code / Title 57 / Chapter 4 / Section 47-9
Miss. Code Ann. § 57-47-9
Status: in_force

The departments, agencies and officers of the state and its subdivisions are hereby authorized to cooperate with the Southeast Interstate Low-Level Radioactive Waste Commission in the furtherance of any of its activities pursuant to the compact.
Miss. Code Ann. § 57-89-51 — MS Code / Title 57 / Chapter 75 / Section 89-51
Miss. Code Ann. § 57-89-51
Status: in_force

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

(a) “ Base investment ” means the actual investment made and expended in Mississippi by a production company in connection with the production of a state-certified production in the state. The term “ base investment ” includes amounts expended in Mississippi by a production company as per diem and housing allowances in connection with the production of a state-certified production in the state. The term “base investment” shall not include payroll. However, in the case of a production company, or its owner, principal, member, production partner, independent contractor director or producer, or subsidiary company that (i) is designated and pre-qualified by the Mississippi Development Authority as Mississippi-based or a Mississippi resident; (ii) has filed income taxes in the State of Mississippi during each of the previous three (3) years; and (iii) has engaged in activities related to the production of at least two (2) series in Mississippi during the past ten (10) years, base investment may include payroll and fringes paid for any employee who is not a resident and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968, if so requested by the production company. A production company must submit such a request to the Mississippi Development Authority at the time the company submits an application for approval as a state-certified production. In addition, if base investment includes payroll and fringes, and the payroll and fringes paid for an employee exceeds Three Million Dollars ($3,000,000.00), then only the first Three Million Dollars ($3,000,000.00) of such payroll and fringes may be included in base investment.

(b) “ Employee ” means an individual directly involved in the physical production and/or post-production of a series produced in the state and who is employed by a:

(i) Production company that is directly involved in the physical production and/or post-production of a series in the state;

(ii) Personal service corporation retained by a production company to provide persons used directly in the physical production and/or post-production of a series in the state; or

(iii) Payroll service or loan-out company that is retained by a production company to provide employees who work directly in the physical production and/or post-production of a series in the state.

(c) “ Fringes ” means costs paid by a production company for employee benefits that are not subject to state income tax. Fringes may include, but are not limited to, payments by an employer for unemployment insurance, Federal Insurance Contribution Act (FICA), workers' compensation insurance, pension and welfare benefits and health insurance premiums.

(d) “ Series ” means a nationally distributed connected set of television program episodes, consisting of not less than two (2) episodes made in Mississippi, in whole or in part, for viewing through: traditional television that is broadcast via cable, satellite or over-the-air aerial antenna systems; the digital distribution of television content as streaming media over the Internet through streaming platforms, which may be viewed on digital devices, such as a personal computer or handheld device; or through DVD release. The term “series” shall not include any production or work described in this paragraph (d) that contains any material or performance defined in Section 97-29-103 .

(e) “ Production company ” means a company engaged in the business of producing series. The term “production company” shall not mean or include any company owned, affiliated, or controlled, in whole or in part, by any company or person which is in default on a loan made by the state or a loan guaranteed by the state, or any company or person who has ever declared bankruptcy under which an obligation of the company or person to pay or repay public funds or monies was discharged as a part of such bankruptcy.

(f) “ Payroll ” means salary, wages or other compensation including related benefits paid to employees upon which Mississippi income tax is due and has been withheld.

(g) “ Resident ” or “ resident of Mississippi ” means a natural person, and for the purpose of determining eligibility for the rebate provided by this section, any person domiciled in the State of Mississippi and any other person who maintains a permanent place of abode within the state and spends in the aggregate more than six (6) months of each year within the state.

(h) “ State ” means the State of Mississippi.

(i) “ State-certified production ” means a series approved by the Mississippi Development Authority produced by a production company in the state. An application for approval as a state-certified production must be submitted to the Mississippi Development Authority before production of the project begins.

(2)(a) A production company that expends at least Fifty Thousand Dollars ($50,000.00) in base investment, payroll and/or fringes, in the state shall be entitled to a rebate of a portion of the base investment made by the production company. Subject to the provisions of this section, the amount of the rebate shall be equal to twenty-five percent (25%) of the base investment made by the production company.

(b) In addition to the rebates authorized under paragraphs (a), (c) and (d) of this subsection, a production company may receive a rebate equal to twenty percent (20%) of payroll and fringes paid for any employee who is not a resident and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968. However, if the payroll and fringes paid for an employee exceeds Three Million Dollars ($3,000,000.00), then the rebate is authorized only for the first Three Million Dollars ($3,000,000.00) of such payroll and fringes.

(c) In addition to the rebates authorized under paragraphs (a), (b) and (d) of this subsection, a production company may receive a rebate equal to thirty-five percent (35%) of payroll and fringes paid for any employee who is a resident and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968. However, if the payroll and fringes paid for an employee exceeds Three Million Dollars ($3,000,000.00), then the rebate is authorized only for the first Three Million Dollars ($3,000,000.00) of such payroll and fringes.

(d) In addition to the rebates authorized in paragraphs (a), (b) and (c) of this subsection, a production company may receive an additional rebate equal to five percent (5%) of the payroll and fringes paid for any employee who is an honorably discharged veteran of the United States Armed Forces and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968.

(e) Base investment, payroll and/or fringes for which a rebate may be requested under this section: (i) may not be used or included for the purpose of satisfying any minimum investment required in order to be eligible for a rebate under the Mississippi Motion Picture Incentive Act and (ii) may not be used for and shall not be eligible for any rebate authorized under the Mississippi Motion Picture Incentive Act.

(f) If a series has physical production activities and/or post-production activities both inside and outside the state, then the production company shall be required to provide an itemized accounting for each employee regarding such activities inside and outside the state for the purposes of proration of eligible payroll based on the percentage of activities performed in the state.

(g) The total amount of rebates authorized in any fiscal year shall not exceed Ten Million Dollars ($10,000,000.00) in the aggregate.

(2) 1 A production company desiring a rebate under this section must submit a rebate request to the Department of Revenue upon completion of the project. The request must include a detailed accounting of the base investment made by the production company and any other information required by the Department of Revenue. Rebates made by the Department of Revenue under this section shall be made from current income tax collections.

(3) The Department of Revenue shall have all powers necessary to implement and administer the provisions of this section, and the Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
Miss. Code Ann. § 57-10-409.nr3 — MS Code / Title 57 / Chapter 7 / 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. § 57-21-7 — MS Code / Title 57 / Chapter 1 / Section 21-7
Miss. Code Ann. § 57-21-7
Status: in_force

The chief executive officer of the laboratory shall be the State Chemist.

(a) Qualifications: The State Chemist shall be an individual who has earned the Doctor of Philosophy degree or its equivalent at a recognized university or college qualified to grant such degrees. The major field of his or her training should be preferably in traditional or applied fields of chemistry or biochemistry, but other disciplines may be acceptable if the individual has experience qualifying him or her otherwise. He or she should also have knowledge by training or experience of agricultural, industrial or health-related fields. The candidate for State Chemist must be acceptable as a faculty member in a department of the university appropriate to his or her earned doctorate degree.

(b) Appointment: The State Chemist shall be appointed by the president of the university, with the advice and consent of the Senate, for a term of six (6) years; and the said State Chemist shall serve for said six-year term and until his successor shall have been appointed and qualified. However, it is provided that the said State Chemist may be removed from office by the Board of Trustees of State Institutions of Higher Learning upon the demonstration of his inability to serve due to illness, incompetence, malfeasance in office, dereliction of duty or moral turpitude. The Board of Trustees of State Institutions of Higher Learning shall fix the annual salary of the State Chemist, who shall be paid from the budget of the Mississippi State Chemical Laboratory or from the budget of the university, or from both, whichever is deemed desirable by the Board of Trustees of State Institutions of Higher Learning.

(c) Status: The State Chemist shall simultaneously hold an appointment as professor in a department of the university appropriate to the discipline of their doctorate degree. He or she may be granted tenure as a faculty member in accordance with the rules current at the university upon his or her appointment. As a state regulatory official, the duties of the State Chemist are service in nature. However, as time permits, the State Chemist may teach or direct research as part of his or her professional duties, and may serve in other administrative positions as deemed desirable with the consent and approval of the president of the university and the board of trustees. He or she shall receive appropriate reimbursement for such services.

(d) Responsibility: The State Chemist shall be responsible to and shall report to the president of the university or a designee of the president.

(e) Duties: The State Chemist shall:

1. Serve as the chief executive officer and director of the State Chemical Laboratory.

2. Recommend the appointment, discharge, annual salaries, duties, and titles of administrative, technical and support personnel and staff of the laboratory to assist him or her in carrying out its authorized functions.

3. Prepare and submit budget requests for the laboratory to the appropriate agency, subject to approval by the president of the university and the board of trustees. The State Chemist shall present such requests before the Legislative Budget Office and legislative committees. He or she shall prepare an annual budget for operation of the laboratory from appropriated or special funds or other income available, and shall make monthly, quarterly and other reports of such income and expenditures to the appropriate agencies as required by law.

4. Maintain an inventory of laboratory equipment and report it appropriately to the proper agencies as required by law.

5. Prepare annual or biennial reports and special reports as needed of laboratory activities, programs and recommendations. Such reports shall be submitted to governmental heads and agencies as required by statutes, to the president of the university, the Board of Trustees of State Institutions of Higher Learning, and to the chief executive officer of each agency with which it cooperates.

6. Serve on such state or national agencies, commissions, boards, organizations or committees as required by law.

7. Conduct other business necessary and desirable for proper discharge of his or her responsibilities to the state or as may be stipulated here or elsewhere in the laws of Mississippi.
Miss. Code Ann. § 57-73-21 — MS Code / Title 57 / Chapter 65 / Section 73-21
Miss. Code Ann. § 57-73-21
Status: repealed

(1) Annually by December 31, using the most current data available from the University Research Center, Mississippi Department of Employment Security and the United States Department of Commerce, the Department of Revenue shall rank and designate the state's counties as provided in this section. The twenty-eight (28) counties in this state having a combination of the highest unemployment rate and lowest per capita income for the most recent thirty-six-month period, with equal weight being given to each category, are designated Tier Three areas. The twenty-seven (27) counties in the state with a combination of the next highest unemployment rate and next lowest per capita income for the most recent thirty-six-month period, with equal weight being given to each category, are designated Tier Two areas. The twenty-seven (27) counties in the state with a combination of the lowest unemployment rate and the highest per capita income for the most recent thirty-six-month period, with equal weight being given to each category, are designated Tier One areas. Counties designated by the Department of Revenue qualify for the appropriate tax credit for jobs as provided in this section. The designation by the Department of Revenue is effective for the tax years of permanent business enterprises which begin after the date of designation. For companies which plan an expansion in their labor forces, the Department of Revenue shall prescribe certification procedures to ensure that the companies can claim credits in future years without regard to whether or not a particular county is removed from the list of Tier Three or Tier Two areas.

(2) Permanent business enterprises in counties designated by the Department of Revenue as Tier Three areas are allowed a job tax credit for taxes imposed by Section 27-7-5 equal to ten percent (10%) of the payroll of the enterprise for net new full-time employee jobs for five (5) years beginning with years two (2) through six (6) after the creation of the minimum number of jobs required by this subsection; however, if the permanent business enterprise is located in an area that has been declared by the Governor to be a disaster area and as a direct result of the disaster the permanent business enterprise is unable to maintain the required number of jobs, the Commissioner of Revenue may extend this time period for not more than two (2) years. The number of new full-time jobs must be determined by comparing the monthly average number of full-time employees subject to the Mississippi income tax withholding for the taxable year with the corresponding period of the prior taxable year. Only those permanent business enterprises that increase employment by ten (10) or more in a Tier Three area are eligible for the credit. Credit is not allowed during any of the five (5) years if the net employment increase falls below ten (10). The Department of Revenue shall adjust the credit allowed each year for the net new employment fluctuations above the minimum level of ten (10). Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this subsection (2).

(3) Permanent business enterprises in counties that have been designated by the Department of Revenue as Tier Two areas are allowed a job tax credit for taxes imposed by Section 27-7-5 equal to five percent (5%) of the payroll of the enterprise for net new full-time employee jobs for five (5) years beginning with years two (2) through six (6) after the creation of the minimum number of jobs required by this subsection; however, if the permanent business enterprise is located in an area that has been declared by the Governor to be a disaster area and as a direct result of the disaster the permanent business enterprise is unable to maintain the required number of jobs, the Commissioner of Revenue may extend this time period for not more than two (2) years. The number of new full-time jobs must be determined by comparing the monthly average number of full-time employees subject to Mississippi income tax withholding for the taxable year with the corresponding period of the prior taxable year. Only those permanent business enterprises that increase employment by fifteen (15) or more in Tier Two areas are eligible for the credit. The credit is not allowed during any of the five (5) years if the net employment increase falls below fifteen (15). The Department of Revenue shall adjust the credit allowed each year for the net new employment fluctuations above the minimum level of fifteen (15). Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this subsection (3).

(4) Permanent business enterprises in counties designated by the Department of Revenue as Tier One areas are allowed a job tax credit for taxes imposed by Section 27-7-5 equal to two and one-half percent (2.5%) of the payroll of the enterprise for net new full-time employee jobs for five (5) years beginning with years two (2) through six (6) after the creation of the minimum number of jobs required by this subsection; however, if the permanent business enterprise is located in an area that has been declared by the Governor to be a disaster area and as a direct result of the disaster the permanent business enterprise is unable to maintain the required number of jobs, the Commissioner of Revenue may extend this time period for not more than two (2) years. The number of new full-time jobs must be determined by comparing the monthly average number of full-time employees subject to Mississippi income tax withholding for the taxable year with the corresponding period of the prior taxable year. Only those permanent business enterprises that increase employment by twenty (20) or more in Tier One areas are eligible for the credit. The credit is not allowed during any of the five (5) years if the net employment increase falls below twenty (20). The Department of Revenue shall adjust the credit allowed each year for the net new employment fluctuations above the minimum level of twenty (20). Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this subsection (4).

(5)(a) In addition to the other credits authorized in this section, an additional Five Hundred Dollars ($500.00) credit for each net new full-time employee or an additional One Thousand Dollars ($1,000.00) credit for each net new full-time employee who is paid a salary, excluding benefits which are not subject to Mississippi income taxation, of at least one hundred twenty-five percent (125%) of the average annual wage of the state or an additional Two Thousand Dollars ($2,000.00) credit for each net new full-time employee who is paid a salary, excluding benefits which are not subject to Mississippi income taxation, of at least two hundred percent (200%) of the average annual wage of the state, shall be allowed for any company establishing or transferring its national or regional headquarters from within or outside the State of Mississippi. A minimum of twenty (20) jobs must be created to qualify for the additional credit. The Department of Revenue shall establish criteria and prescribe procedures to determine if a company qualifies as a national or regional headquarters for purposes of receiving the credit awarded in this paragraph (a). As used in this paragraph (a), the average annual wage of the state is the most recently published average annual wage as determined by the Mississippi Department of Employment Security. Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this paragraph (a).

(b) In addition to the other credits authorized in this section, an additional Five Hundred Dollars ($500.00) credit for each net new full-time employee or an additional One Thousand Dollars ($1,000.00) credit for each net new full-time employee who is paid a salary, excluding benefits which are not subject to Mississippi income taxation, of at least one hundred twenty-five percent (125%) of the average annual wage of the state or an additional Two Thousand Dollars ($2,000.00) credit for each net new full-time employee who is paid a salary, excluding benefits which are not subject to Mississippi income taxation, of at least two hundred percent (200%) of the average annual wage of the state, shall be allowed for any company expanding or making additions after January 1, 2013, to its national or regional headquarters within the State of Mississippi. A minimum of twenty (20) new jobs must be created to qualify for the additional credit. The Department of Revenue shall establish criteria and prescribe procedures to determine if a company qualifies as a national or regional headquarters for purposes of receiving the credit awarded in this paragraph (b). As used in this paragraph (b), the average annual wage of the state is the most recently published average annual wage as determined by the Mississippi Department of Employment Security. Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this paragraph (b).

(6) In addition to the other credits authorized in this section, any job requiring research and development skills (chemist, engineer, etc.) shall qualify for an additional One Thousand Dollars ($1,000.00) credit for each net new full-time employee. Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this subsection (6).

(7)(a) In addition to the other credits authorized in this section, any company that transfers or relocates its national or regional headquarters to the State of Mississippi from outside the State of Mississippi may receive a tax credit in an amount equal to the actual relocation costs paid by the company. A minimum of twenty (20) jobs must be created in order to qualify for the additional credit authorized under this subsection. Relocation costs for which a credit may be awarded shall be determined by the Department of Revenue and shall include those nondepreciable expenses that are necessary to relocate headquarters employees to the national or regional headquarters, including, but not limited to, costs such as travel expenses for employees and members of their households to and from Mississippi in search of homes and moving expenses to relocate furnishings, household goods and personal property of the employees and members of their households. Medical cannabis establishments as defined in the Mississippi Medical Cannabis Act shall not be eligible for the tax credit authorized in this subsection (7).

(b) The tax credit authorized under this subsection shall be applied for the taxable year in which the relocation costs are paid. The maximum cumulative amount of tax credits that may be claimed by all taxpayers claiming a credit under this subsection in any one (1) state fiscal year shall not exceed One Million Dollars ($1,000,000.00), exclusive of credits that might be carried forward from previous taxable years. A company may not receive a credit for the relocation of an employee more than one (1) time in a twelve-month period for that employee.

(c) The Department of Revenue shall establish criteria and prescribe procedures to determine if a company creates the required number of jobs and qualifies as a national or regional headquarters for purposes of receiving the credit awarded in this subsection. A company desiring to claim a credit under this subsection must submit an application for such credit with the Department of Revenue in a manner prescribed by the department.

(d) In order to participate in the provisions of this section, a company must certify to the Mississippi Department of Revenue that it complies with the equal pay provisions of the federal Equal Pay Act of 1963, the Americans with Disabilities Act of 1990 and the fair pay provisions of the Civil Rights Act of 1964.

(e) This subsection shall stand repealed on July 1, 2025.

(8) In lieu of the other tax credits provided in this section, any commercial or industrial property owner which remediates contaminated property in accordance with Sections 49-35-1 through 49-35-25 , is allowed a job tax credit for taxes imposed by Section 27-7-5 equal to the percentage of payroll provided in subsection (2), (3) or (4) of this section for net new full-time employee jobs for five (5) years beginning with years two (2) through six (6) after the creation of the jobs. The number of new full-time jobs must be determined by comparing the monthly average number of full-time employees subject to Mississippi income tax withholding for the taxable year with the corresponding period of the prior taxable year. This subsection shall be administered in the same manner as subsections (2), (3) and (4), except the landowner shall not be required to increase employment by the levels provided in subsections (2), (3) and (4) to be eligible for the tax credit.

(9)(a) Tax credits for five (5) years for the taxes imposed by Section 27-7-5 shall be awarded for increases in the annual payroll for net new full-time jobs created by business enterprises qualified under this section. The Department of Revenue shall adjust the credit allowed in the event of payroll fluctuations during the additional five (5) years of credit.

(b) Tax credits for five (5) years for the taxes imposed by Section 27-7-5 shall be awarded for additional net new full-time jobs created by business enterprises qualified under subsections (5) and (6) of this section and for additional relocation costs paid by companies qualified under subsection (7) of this section. The Department of Revenue shall adjust the credit allowed in the event of employment fluctuations during the additional five (5) years of credit.

(10)(a) The sale, merger, acquisition, reorganization, bankruptcy or relocation from one (1) county to another county within the state of any business enterprise may not create new eligibility in any succeeding business entity, but any unused job tax credit may be transferred and continued by any transferee of the business enterprise. The Department of Revenue shall determine whether or not qualifying net increases or decreases have occurred or proper transfers of credit have been made and may require reports, promulgate regulations, and hold hearings as needed for substantiation and qualification.

(b) This subsection shall not apply in cases in which a business enterprise has ceased operation, laid off all its employees and is subsequently acquired by another unrelated business entity that continues operation of the enterprise in the same or a similar type of business. In such a case the succeeding business entity shall be eligible for the credit authorized by this section unless the cessation of operation of the business enterprise was for the purpose of obtaining new eligibility for the credit.

(11) Any tax credit claimed under this section but not used in any taxable year may be carried forward for five (5) years from the close of the tax year in which the qualified jobs were established and/or headquarters relocation costs paid, as applicable, but the credit established by this section taken in any one (1) tax year must be limited to an amount not greater than fifty percent (50%) of the taxpayer's state income tax liability which is attributable to income derived from operations in the state for that year. If the permanent business enterprise is located in an area that has been declared by the Governor to be a disaster area and as a direct result of the disaster the business enterprise is unable to use the existing carryforward, the Commissioner of Revenue may extend the period that the credit may be carried forward for a period of time not to exceed two (2) years.

(12) No business enterprise for the transportation, handling, storage, processing or disposal of hazardous waste is eligible to receive the tax credits provided in this section.

(13) The credits allowed under this section shall not be used by any business enterprise or corporation other than the business enterprise actually qualifying for the credits.

(14) As used in this section:

(a) “ Business enterprises ” means entities primarily engaged in:

(i) Manufacturing, processing, warehousing, warehousing activities, distribution, wholesaling and research and development, or

(ii) Permanent business enterprises designated by rule and regulation of the Mississippi Development Authority as air transportation and maintenance facilities, final destination or resort hotels having a minimum of one hundred fifty (150) guest rooms, recreational facilities that impact tourism, movie industry studios, telecommunications enterprises, data or information processing enterprises or computer software development enterprises or any technology intensive facility or enterprise.

(b) “ Telecommunications enterprises ” means entities engaged in the creation, display, management, storage, processing, transmission or distribution for compensation of images, text, voice, video or data by wire or by wireless means, or entities engaged in the construction, design, development, manufacture, maintenance or distribution for compensation of devices, products, software or structures used in the above activities. Companies organized to do business as commercial broadcast radio stations, television stations or news organizations primarily serving in-state markets shall not be included within the definition of the term “telecommunications enterprises.”

(c) “ Warehousing activities ” means entities that establish or expand facilities that service and support multiple retail or wholesale locations within and outside the state. Warehousing activities may be performed solely to support the primary activities of the entity, and credits generated shall offset the income of the entity based on an apportioned ratio of payroll for warehouse employees of the entity to total Mississippi payroll of the entity that includes the payroll of retail employees of the entity.

(15) The tax credits provided for in this section shall be in addition to any tax credits described in Sections 57-51-13(b) , 57-53-1(1)(a) and 57-54-9(b) and granted pursuant to official action by the Mississippi Development Authority prior to July 1, 1989, to any business enterprise determined prior to July 1, 1989, by the Mississippi Development Authority to be a qualified business as defined in Section 57-51-5(f) or Section 57-54-5(d) or a qualified company as described in Section 57-53-1 , as the case may be; however, from and after July 1, 1989, tax credits shall be allowed only under either this section or Sections 57-51-13(b) , 57-53-1(1)(a) and Section 57-54-9(b) for each net new full-time employee.

(16) A business enterprise that chooses to receive job training assistance pursuant to Section 57-1-451 shall not be eligible for the tax credits provided for in this section.
Miss. Code Ann. § 57-75-5 — MS Code / Title 57 / Chapter 71 / Section 75-5
Miss. Code Ann. § 57-75-5
Status: in_force

Words and phrases used in this chapter shall have meanings as follows, unless the context clearly indicates a different meaning:

(a) “ Act ” means the Mississippi Major Economic Impact Act as originally enacted or as hereafter amended.

(b) “ Authority ” means the Mississippi Major Economic Impact Authority created pursuant to the act.

(c) “ Bonds ” means general obligation bonds, interim notes and other evidences of debt of the State of Mississippi issued pursuant to this chapter.

(d) “ Facility related to the project ” means and includes any of the following, as the same may pertain to the project within the project area: (i) facilities to provide potable and industrial water supply systems, sewage and waste disposal systems and water, natural gas and electric transmission systems to the site of the project; (ii) airports, airfields and air terminals; (iii) rail lines; (iv) port facilities; (v) highways, streets and other roadways; (vi) public school buildings, classrooms and instructional facilities, training facilities and equipment, including any functionally related facilities; (vii) parks, outdoor recreation facilities and athletic facilities; (viii) auditoriums, pavilions, campgrounds, art centers, cultural centers, folklore centers and other public facilities; (ix) health care facilities, public or private; and (x) fire protection facilities, equipment and elevated water tanks.

(e) “ Person ” means any natural person, corporation, association, partnership, limited liability company, receiver, trustee, guardian, executor, administrator, fiduciary, governmental unit, public agency, political subdivision, or any other group acting as a unit, and the plural as well as the singular.

(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 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 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 which creates at least one thousand (1,000) net new full-time jobs which provides an average salary, excluding benefits which are not subject to Mississippi income taxation, of at least one hundred twenty-five percent (125%) of the most recently published average annual wage of the state as determined by the Mississippi Department of Employment Security. “ Project ” shall include any addition to or expansion of an existing enterprise if such addition or expansion has an initial capital investment of not less than Three Hundred Million Dollars ($300,000,000.00) from private or United States government sources, or 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 which creates at least one thousand (1,000) net new full-time jobs which provides an average salary, excluding benefits which are not subject to Mississippi income taxation, of at least one hundred twenty-five percent (125%) of the most recently published average annual wage of the state as determined by the Mississippi Department of Employment Security. “ Project ” shall also include any ancillary development or business resulting from the enterprise, of which the authority is notified, within three (3) years from the date that the enterprise entered into commercial production, that the project area has been selected as the site for the ancillary development or business.

(ii) 1. Any major capital project designed to improve, expand or otherwise enhance any active duty or reserve United States armed services bases and facilities or any major Mississippi National Guard training installations, their support areas or their military operations, upon designation by the authority that any such base was or is at risk to be recommended for closure or realignment pursuant to the Defense Base Closure and Realignment Act of 1990, as amended, or other applicable federal law; or any major development project determined by the authority to be necessary to acquire or improve base properties and to provide employment opportunities through construction of projects as defined in Section 57-3-5 , which shall be located on or provide direct support service or access to such military installation property in the event of closure or reduction of military operations at the installation.

2. Any major study or investigation related to such a facility, installation or base, upon a determination by the authority that the study or investigation is critical to the expansion, retention or reuse of the facility, installation or base.

3. Any project as defined in Section 57-3-5 , any business or enterprise determined to be in the furtherance of the public purposes of this act as determined by the authority or any facility related to such project each of which shall be, directly or indirectly, related to any military base or other military-related facility no longer operated by the United States armed services or the Mississippi National Guard.

(iii) Any enterprise to be maintained, improved or constructed in Tishomingo County by or for a National Aeronautics and Space Administration facility in such county.

(iv) 1. Any major capital project 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) jobs meeting criteria established by the Mississippi Development Authority.

2. “ Project ” shall also include any ancillary development or business resulting from an enterprise operating a project as defined in item 1 of this paragraph (f)(iv), of which the authority is notified, within three (3) years from the date that the enterprise entered into commercial production, that the state has been selected as the site for the ancillary development or business.

(v) Any manufacturing, processing or industrial project determined by the authority, in its sole discretion, to contribute uniquely and significantly to the economic growth and development of the state, and which meets the following criteria:

1. The project shall create at least two thousand (2,000) net new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law.

2. The project and any facility related to the project shall include a total investment from private sources of not less than Sixty Million Dollars ($60,000,000.00), or from any combination of sources of not less than Eighty Million Dollars ($80,000,000.00).

(vi) Any real property owned or controlled by the National Aeronautics and Space Administration, the United States government, or any agency thereof, which is legally conveyed to the State of Mississippi or to the State of Mississippi for the benefit of the Mississippi Major Economic Impact Authority, its successors and assigns pursuant to Section 212 of Public Law 104-99 , enacted January 26, 1996 (110 Stat. 26 at 38).

(vii) Any major capital project related to the establishment, improvement, expansion and/or other enhancement of any active duty military installation and having a minimum capital investment from any source or combination of sources other than the State of Mississippi of at least Forty Million Dollars ($40,000,000.00), and which will create at least four hundred (400) military installation related full-time jobs, which jobs may be military jobs, civilian jobs or a combination of military and civilian jobs. The authority shall require that binding commitments be entered into requiring that the minimum requirements for the project provided for in this subparagraph shall be met not later than July 1, 2008.

(viii) Any major capital project with an initial capital investment from any source or combination of sources of not less than Ten Million Dollars ($10,000,000.00) which will create at least eighty (80) full-time jobs which provide an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least one hundred thirty-five percent (135%) of the most recently published average annual wage of the state or the most recently published average annual wage of the county in which the project is located as determined by the Mississippi Department of Employment Security, whichever is the lesser. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(ix) Any regional retail shopping mall with an initial capital investment from private sources in excess of One Hundred Fifty Million Dollars ($150,000,000.00), with a square footage in excess of eight hundred thousand (800,000) square feet, which will create at least seven hundred (700) full-time jobs with an average hourly wage of Eleven Dollars ($11.00) per hour. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(x) Any major capital project with an initial capital investment from any source or combination of sources of not less than Seventy-five Million Dollars ($75,000,000.00) which will create at least one hundred twenty-five (125) full-time jobs which provide an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least one hundred thirty-five percent (135%) of the most recently published average annual wage of the state or the most recently published average annual wage of the county in which the project is located as determined by the Mississippi Department of Employment Security, whichever is the greater. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xi) Any potential major capital project that the authority has determined is feasible to recruit.

(xii) Any project built according to the specifications and federal provisions set forth by the National Aeronautics and Space Administration Center Operations Directorate at Stennis Space Center for the purpose of consolidating common services from National Aeronautics and Space Administration centers in human resources, procurement, financial management and information technology located on land owned or controlled by the National Aeronautics and Space Administration, which will create at least four hundred seventy (470) full-time jobs.

(xiii) Any major capital project with an initial capital investment from any source or combination of sources of not less than Ten Million Dollars ($10,000,000.00) which will create at least two hundred fifty (250) full-time jobs. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xiv) Any major pharmaceutical facility with a capital investment of not less than Fifty Million Dollars ($50,000,000.00) made after July 1, 2002, through four (4) years after the initial date of any loan or grant made by the authority for such project, which will maintain at least seven hundred fifty (750) full-time employees. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xv) Any pharmaceutical manufacturing, packaging and distribution facility with an initial capital investment from any local or federal sources of not less than Five Hundred Thousand Dollars ($500,000.00) which will create at least ninety (90) full-time jobs. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xvi) Any major industrial wood processing facility with an initial capital investment of not less than One Hundred Million Dollars ($100,000,000.00) which will create at least one hundred twenty-five (125) full-time jobs which provide an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least Thirty Thousand Dollars ($30,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xvii) Any technical, engineering, manufacturing-logistic service provider with an initial capital investment of not less than One Million Dollars ($1,000,000.00) which will create at least ninety (90) full-time jobs. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xviii) Any major capital project with an initial capital investment from any source or combination of sources other than the State of Mississippi of not less than Six Hundred Million Dollars ($600,000,000.00) which will create at least four hundred fifty (450) full-time jobs with an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least Seventy Thousand Dollars ($70,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xix) Any major coal and/or petroleum coke gasification project with an initial capital investment from any source or combination of sources other than the State of Mississippi of not less than Eight Hundred Million Dollars ($800,000,000.00), which will create at least two hundred (200) full-time jobs with an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least Forty-five Thousand Dollars ($45,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xx) Any planned mixed use development located on not less than four thousand (4,000) acres of land that will consist of commercial, recreational, resort, tourism and residential development with a capital investment from private sources of not less than Four Hundred Seventy-five Million Dollars ($475,000,000.00) in the aggregate in any one (1) or any combination of tourism projects that will create at least three thousand five hundred (3,500) jobs in the aggregate. For the purposes of this paragraph (f)(xx), the term “ tourism project ” means and has the same definition as that term has in Section 57-28-1 . In order to meet the minimum capital investment required under this paragraph (f)(xx), at least Two Hundred Thirty-seven Million Five Hundred Thousand Dollars ($237,500,000.00) of such investment must be made not later than June 1, 2015, and the remainder of the minimum capital investment must be made not later than June 1, 2017. In order to meet the minimum number of jobs required to be created under this paragraph (f)(xx), at least one thousand seven hundred fifty (1,750) of such jobs must be created not later than June 1, 2015, and the remainder of the jobs must be created not later than June 1, 2017. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxi) Any enterprise owning or operating an automotive manufacturing and assembly plant and its affiliates for which construction begins after March 2, 2007, and not later than December 1, 2007, with an initial capital investment from private sources of not less than Five Hundred Million Dollars ($500,000,000.00) which will create at least one thousand five hundred (1,500) jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxii) Any enterprise owning or operating a major powertrain component manufacturing and assembly plant for which construction begins after May 11, 2007, and not later than December 1, 2007, with an initial capital investment from private sources of not less than Three Hundred Million Dollars ($300,000,000.00) which will create at least five hundred (500) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual wages and taxable benefits of such jobs shall be at least one hundred twenty-five percent (125%) of the most recently published average annual wage of the state or the most recently published average annual wage of the county in which the project is located as determined by the Mississippi Department of Employment Security, whichever is the lesser. The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxiii) Any biological and agricultural defense project operated by an agency of the government of the United States with an initial capital investment of not less than Four Hundred Fifty Million Dollars ($450,000,000.00) from any source other than the State of Mississippi and its subdivisions, which will create at least two hundred fifty (250) new full-time jobs. All jobs created by the project must be held by persons eligible for employment in the United States under applicable state and federal law.

(xxiv) Any enterprise owning or operating an existing tire manufacturing plant which adds to such plant capital assets of not less than Twenty-five Million Dollars ($25,000,000.00) after January 1, 2009, and that maintains at least one thousand two hundred (1,200) full-time jobs in this state at one (1) location with an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least Forty-five Thousand Dollars ($45,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxv) Any enterprise owning or operating a facility for the manufacture of composite components for the aerospace industry which will have an investment from private sources of not less than One Hundred Seventy-five Million Dollars ($175,000,000.00) by not later than December 31, 2015, and which will result in the full-time employment at the project site of not less than two hundred seventy-five (275) persons by December 31, 2011, and not less than four hundred twenty-five (425) persons by December 31, 2013, and not less than eight hundred (800) persons by December 31, 2017, all with an average annual compensation, excluding benefits which are not subject to Mississippi income taxes, of at least Fifty-three Thousand Dollars ($53,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxvi) Any enterprise owning or operating a facility for the manufacture of pipe which will have an investment from any source other than the State of Mississippi and its subdivisions of not less than Three Hundred Million Dollars ($300,000,000.00) by not later than December 31, 2015, and which will create at least five hundred (500) new full-time jobs within five (5) years after the start of commercial production and maintain such jobs for at least ten (10) years, all with an average annual compensation, excluding benefits which are not subject to Mississippi income taxes, of at least Thirty-two Thousand Dollars ($32,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxvii) Any enterprise owning or operating a facility for the manufacture of solar panels which will have an investment from any source other than the State of Mississippi and its subdivisions of not less than One Hundred Thirty-two Million Dollars ($132,000,000.00) by not later than December 31, 2015, and which will create at least five hundred (500) new full-time jobs within five (5) years after the start of commercial production and maintain such jobs for at least ten (10) years, all with an average annual compensation, excluding benefits which are not subject to Mississippi income taxes, of at least Thirty-four Thousand Dollars ($34,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

(xxviii) 1. Any enterprise owning or operating an automotive parts manufacturing plant and its affiliates for which construction begins after June 1, 2013, and not later than June 30, 2014, with an initial capital investment of not less than Three Hundred Million Dollars ($300,000,000.00) which will create at least five hundred (500) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual wages and taxable benefits of such jobs shall be at least one hundred ten percent (110%) of the most recently published average annual wage of the state or the most recently published average annual wage of the county in which the project is located as determined by the Mississippi Department of Employment Security, whichever is the lesser. The authority shall require that binding commitments be entered into requiring that:

a. The minimum requirements for the project provided for in this subparagraph shall be met; and

b. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.

2. It is anticipated that the project defined in this subparagraph (xxviii) will expand in three (3) additional phases, will create an additional five hundred (500) full-time jobs meeting the above criteria in each phase, and will invest an additional Three Hundred Million Dollars ($300,000,000.00) per phase.

(xxix) Any enterprise engaged in the manufacture of tires or other related rubber or automotive products for which construction of a plant begins after January 1, 2016, and is substantially completed no later than December 31, 2022, and for which such enterprise commits to an aggregate capital investment by such enterprise and its affiliates of not less than One Billion Four Hundred Fifty Million Dollars ($1,450,000,000.00) and the creation thereby of at least two thousand five hundred (2,500) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual salary or wage, excluding the value of any benefits which are not subject to Mississippi income tax, of such jobs shall be at least Forty Thousand Dollars ($40,000.00). The authority shall require that binding commitments be entered into requiring that:

1. Minimum requirements for investment and jobs for the project shall be met; and

2. If such requirements are not met, all or a portion of the funds provided by the state for the project may, as determined by the authority, be subject to repayment by such enterprise and/or its affiliates, together with any penalties or damages required by the authority in connection therewith.

(xxx) Any enterprise owning or operating a maritime fabrication and assembly facility for which construction begins after February 1, 2016, and concludes not later than December 31, 2018, with an initial capital investment in land, buildings and equipment not less than Sixty-eight Million Dollars ($68,000,000.00) and will create not less than one thousand (1,000) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual compensation, excluding benefits which are not subject to Mississippi income taxes, of at least Forty Thousand Dollars ($40,000.00). The authority shall require that binding commitments be entered into requiring that:

1. The minimum requirements for the project provided for in this subparagraph shall be met; and

2. If such commitments are not met, all or a portion of the funds provided by the state for the project may, as determined by the authority, be subject to repayment by such enterprise, together with any penalties or damages required by the authority in connection therewith.

(xxxi) Each of the projects defined in this paragraph (f)(xxxi)1 and 2 that are undertaken by affiliated enterprises, together with any or all of the projects defined in this paragraph (f)(xxxi)3 and/or 4 if they are undertaken by the same or other enterprises affiliated with those enterprises that undertake projects defined in this paragraph (f)(xxxi)1 and 2:

1. An enterprise engaged in the manufacturing and production of recycled flat-rolled aluminum or related products for which construction of recycled aluminum flat-rolled mill begins after January 1, 2023, and is substantially completed no later than December 31, 2026; and

2. An enterprise engaged in the manufacturing and production of biocarbon from biomass for which construction of the biocarbon manufacturing facility begins after December 1, 2022, and is substantially completed no later than December 31, 2026; provided that such series of projects may additionally, but shall not be required to, include:

3. Any other affiliated enterprise that undertakes the development and operation of a new industrial or commercial facility in the state, excluding any area or areas designated by the authority in a written agreement between such enterprise or any affiliate thereof, for which the construction of any such facility begins after January 1, 2023, and is substantially completed no later than December 31, 2029; and/or

4. An enterprise engaged in the development and operation of port activities (e.g., the loading and unloading of barges, rail cars and trucks, the storage and handling of materials, and other port-related operations) in support of all or any of the enterprises enumerated in this paragraph (f)(xxxi)1, 2 and 3, or otherwise in support of an existing electric arc furnace steel mill producing flat-rolled steel and related products; and for which the parent enterprise of such affiliated enterprises enumerated in this paragraph (f)(xxxi)1, 2, 3 and/or 4 commits to an aggregate, collective capital investment by one or more or any combination of such enterprises and their affiliates, as well as by any co-located customers, of not less than Two Billion Five Hundred Million Dollars ($2,500,000,000.00) and the creation thereby of at least one thousand (1,000) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual salary or wage, excluding the value of any benefits which are not subject to Mississippi income tax, of such jobs shall be at least Ninety-three Thousand Dollars ($93,000.00). The authority shall require that binding commitments be entered into requiring that:

a. Minimum requirements for investment and jobs for such affiliated projects shall be met; and

b. If such requirements are not collectively met, all or a portion of the funds provided by the state for such affiliated projects may, as determined by the authority, be subject to repayment by such enterprises and/or their affiliates, together with any penalties or damages required by the authority in connection therewith.

For purposes of this paragraph (f)(xxxi), A. a co-located customer shall mean a person who locates and operates any new manufacturing, processing, warehousing and/or distribution facility within the project area for the project defined in this paragraph (f)(xxxi)1 and utilizes, directly or indirectly, in its operations any aluminum or related products produced by such project, and B. an affiliated enterprise or an affiliate means a related business entity which shares a common direct or indirect ownership with the enterprise owning or operating a project as defined in this paragraph (f)(xxxi)1, 2, 3 or 4. References in the act to a project, as defined by this paragraph (f)(xxxi) shall mean any one of, any combination or all of the projects as defined in this paragraph (f)(xxxi)1, 2, 3 or 4.

(xxxii) Any enterprise engaged in the manufacture and assembly of battery cells for electric commercial vehicles and industrial applications, for which construction of a manufacturing and assembly plant begins after January 1, 2024, and the manufacturing and assembly of battery cells thereby commences on or prior to December 31, 2029, and for which such enterprise commits to an aggregate, collective capital investment by such enterprise, one or more affiliates of such enterprise or any combination of such enterprise and its affiliates, of not less than One Billion Nine Hundred Million Dollars ($1,900,000,000.00) and the creation by such enterprise, one or more affiliates of such enterprise or any combination of such enterprise and its affiliates, as well as by any other co-located project participant, of at least two thousand (2,000) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual salary or wage, excluding the value of any benefits which are not subject to Mississippi income tax prior to January 1, 2024, of such jobs shall be at least Sixty-five Thousand Five Hundred Sixty-four Dollars ($65,564.00). The authority shall require that binding commitments be entered into requiring that:

1. Minimum requirements for investment and jobs for such affiliated projects shall be met; and

2. If such requirements are not collectively met, all or a portion of the funds provided by the state for such project may, as determined by the authority, be subject to repayment by such enterprise and/or its affiliates, together with any penalties or damages required by the authority in connection therewith.

For purposes of this paragraph (f)(xxxii), a co-located project participant shall mean a person or business entity that, pursuant to one or more contracts with an enterprise owning or operating a project as defined in this paragraph (f)(xxxii) or an affiliate thereof, performs within the project area one or more of the following: a. storage, handling and processing services for raw materials, work in process and/or finished goods inventories; b. maintenance, operation and/or other servicing of equipment and machinery used in the project; c. management of real and tangible personal property used in the project; d. any manufacturing, processing or assembly work, in each instance with respect to the manufacturing and/or assembly of battery cells for electric commercial vehicles or industrial applications manufactured or otherwise assembled within the project area by such enterprise or an affiliate thereof; or e. the supply to such enterprise or any affiliate thereof of any components, parts or materials of any battery cells for electric commercial vehicles or industrial applications manufactured or otherwise assembled within the project area by such enterprise or any affiliate thereof.

(xxxiii) Any enterprise engaged in data processing, for which construction of a data processing facility or facilities begins after January 1, 2024, the processing of data by at least one (1) data processing facility commences on or prior to December 31, 2027, and for which such enterprise commits to an aggregate, collective capital investment by such enterprise, one or more affiliates of such enterprise or any combination of such enterprise and its affiliates, of not less than Ten Billion Dollars ($10,000,000,000.00) and the creation by such enterprise, one or more affiliates or contractors of such enterprise or any combination of such enterprises and its affiliates, as well as by any other co-located project participant, of at least one thousand (1,000) new full-time jobs meeting criteria established by the authority, which criteria shall include, but not be limited to, the requirement that such jobs must be held by persons eligible for employment in the United States under applicable state and federal law, and the requirement that the average annual salary or wage, excluding the value of any benefits which are not subject to Mississippi income tax prior to January 1, 2024, of such jobs shall be at least one hundred twenty-five percent (125%) of the published average annual wage of the state as determined by the Mississippi Department of Employment Security. The authority shall require that binding commitments be entered into requiring that:

1. Minimum requirements for investment and jobs for such affiliated projects shall be met; and

2. If such requirements are not collectively met, all or a portion of the funds provided by the state for such project may, as determined by the authority, be subject to repayment by such enterprise and/or its affiliates, together with any penalties or damages required by the authority in connection therewith.

For purposes of this paragraph (f)(xxxiii), a co-located project participant shall mean a person or business entity that, pursuant to one or more contracts with an enterprise owning or operating a project as defined in this paragraph (f)(xxxiii) or an affiliate thereof, performs within the project area one or more of the following: a. maintenance, operation and/or other servicing of equipment and machinery used in the project; b. management of real and tangible personal property used in the project; or c. the supply to such enterprise or any affiliate thereof of any components, parts or services within the project area by such enterprise or any affiliate thereof.

For purposes of this paragraph (f)(xxxiii), “ project ” shall include the construction of additional data processing facilities or the expansion of existing data processing facilities within the state by the enterprise, one or more affiliates of such enterprise, or any combination of such enterprise and its affiliates, if such construction or expansion has a minimum capital investment of Five Hundred Million Dollars ($500,000,000.00) and creates at least fifty (50) net new full-time jobs and written notice thereof is provided to the authority.

(g)(i) “ Project area ” means the project site, together with any area or territory within the state lying within sixty-five (65) miles of any portion of the project site whether or not such area or territory be contiguous; however, for the project defined in paragraph (f)(iv) and (xxxiii) of this section the term “ project area ” means any area or territory within the state. The project area shall also include all territory within a county if any portion of such county lies within sixty-five (65) miles of any portion of the project site. “ Project site ” means the real property on which the principal facilities of the enterprise will operate; however, for the project defined in paragraph (f)(xxxiii) of this section, the term “ project site ” means any area or territory within the state upon which an enterprise constructs one or more data processing facilities. The provisions of this subparagraph (i) shall not apply to a project as defined in paragraph (f)(xxi) of this section.

(ii) For the purposes of a project as defined in paragraph (f)(xxi) of this section, the term “ project area ” means the acreage authorized in the certificate of convenience and necessity issued by the Mississippi Development Authority to a regional economic development alliance under Section 57-64-1 et seq.

(iii) For the purposes of a project as defined in either paragraph (f)(xxxi)1 or paragraph (f)(xxxii) of this section, the term “ project area ” means the acreage specified by the authority in written agreement with the enterprise undertaking such project and/or an affiliate thereof.

(h) “ Public agency ” means:

(i) Any department, board, commission, institution or other agency or instrumentality of the state;

(ii) Any city, town, county, political subdivision, school district or other district created or existing under the laws of the state or any public agency of any such city, town, county, political subdivision or district or any other public entity created or existing under local and private legislation;

(iii) Any department, commission, agency or instrumentality of the United States of America; and

(iv) Any other state of the United States of America which may be cooperating with respect to location of the project within the state, or any agency thereof.

(i) “ State ” means State of Mississippi.

(j) “ Fee-in-lieu ” means a negotiated fee to be paid by the project in lieu of any franchise taxes imposed on the project by Chapter 13, Title 27, Mississippi Code of 1972 . The fee-in-lieu shall not be less than Twenty-five Thousand Dollars ($25,000.00) annually. A fee-in-lieu may be negotiated with an enterprise operating an existing project defined in paragraph (f)(iv)1 of this section; however, a fee-in-lieu shall not be negotiated for other existing enterprises that fall within the definition of the term “project.”

(k)(i) “ Affiliate ” means a subsidiary or related business entity which shares a common direct or indirect ownership with the enterprise owning or operating a project as defined in paragraph (f)(xxi), paragraph (f)(xxviii) or paragraph (f)(xxix) of this section. The subsidiary or related business must provide services directly related to the core activities of the project.

(ii) For the purposes of a project as defined in paragraph (f)(xxxi) of this section, an “ affiliated enterprise ” or an “ affiliate ” means a related business entity which shares a common direct or indirect ownership with the enterprise owning or operating a project as defined in paragraph (f)(xxxi)1, 2, 3 or 4 of this section.

(iii) For the purposes of a project as defined in paragraph (f)(xxxii) of this section, an “ affiliated enterprise ” or an “ affiliate ” means a related business entity which shares a common direct or indirect ownership with the enterprise owning or operating a project as defined in paragraph (f)(xxxii) of this section.

(iv) For the purposes of a project as defined in paragraph (f)(xxxiii) of this section, an “ affiliated enterprise ” or an “ affiliate ” means a related business entity which shares a common direct or indirect ownership with the enterprise owning or operating a project as defined in paragraph (f)(xxxiii) of this section; provided, any such related business entity may be excluded from this definition pursuant to the terms of a written agreement between the authority and the enterprise owning or operating a project as defined in paragraph (f)(xxxiii) of this section.

(l) “ Tier One supplier ” means a supplier of a project as defined in paragraph (f)(xxi) of this section that is certified by the enterprise owning the project and creates a minimum of fifty (50) new full-time jobs.
Miss. Code Ann. § 57-85-5 — MS Code / Title 57 / Chapter 77 / Section 85-5
Miss. Code Ann. § 57-85-5
Status: in_force

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

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

(b) “ Project ” means construction, rehabilitation or repair of buildings; sewer systems and transportation directly affecting the site of the proposed rural business; sewer facilities, acquisition of real property, development of real property, improvements to real property, and any other project approved by the Mississippi Development Authority. The term “project” does not include any medical cannabis establishment as defined in the Mississippi Medical Cannabis Act.

(c) “ Rural business ” means a new or existing business located or to be located in a rural community or a business or industry located or to be located within five (5) miles of a rural community. “Rural business” does not include gaming businesses or utility businesses, or medical cannabis establishments as defined in the Mississippi Medical Cannabis Act.

(d) “ Rural community ” means a county in the State of Mississippi that meets the population criteria for the term “limited population county” as provided in Section 57-1-18 . “Rural community” also means a municipality in the State of Mississippi that meets the population criteria for the term “small municipality” as provided in Section 57-1-18 .

(2)(a) There is created in the State Treasury a special fund to be designated as the “Mississippi Rural Impact Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature in any manner and funds from any other source designated for deposit into such 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 used to make grants and loans to rural communities and loan guaranties on behalf of rural businesses to assist in completing projects under this section.

(b) Monies in the fund which are derived from proceeds of bonds issued after April 15, 2003, may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements under this paragraph (b) shall satisfy any applicable federal tax law requirements.

(c) The MDA may use monies in the fund to pay for the services of architects, engineers, attorneys and such other advisors, consultants and agents that the MDA determines are necessary to review loan and grant applications and to implement and administer the program established under this section.

(d) 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.

(3) The MDA shall establish a program to make grants and loans to rural communities and loan guaranties on behalf of rural businesses from the Mississippi Rural Impact Fund. A rural community may apply to the MDA for a grant or loan under this section in the manner provided for in this section. A rural business may apply to the MDA for a loan guaranty under this section in the manner provided in this section.

(4) A rural community desiring assistance under this section must submit an application to the MDA. The application must include a description of the project for which assistance is requested, the cost of the project for which assistance is requested and any other information required by the MDA. A rural business desiring assistance under this section must submit an application to the MDA. The application must include a description of the purpose for which assistance is requested and any other information required by the MDA. The MDA may waive any requirements of the program established under this section in order to expedite funding for unique projects.

(5) The MDA shall have all powers necessary to implement and administer the program established under this section, and the MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
Miss. Code Ann. § 57-34-11 — MS Code / Title 57 / Chapter 19 / Section 34-11
Miss. Code Ann. § 57-34-11
Status: in_force

All public agencies and political subdivisions of the States of Alabama and Mississippi are hereby authorized to perform for the benefit of any project any functions, activities or services that such agencies are otherwise permitted by law to perform regardless of where the project is located.
Miss. Code Ann. § 57-77-29 — MS Code / Title 57 / Chapter 65 / 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. § 57-61-3 — MS Code / Title 57 / Chapter 56 / 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. § 57-9-9 — MS Code / Title 57 / Chapter 9 / Section 9-9
Miss. Code Ann. § 57-9-9
Status: in_force

In the event the board shall issue a certificate of public convenience and necessity to the applicant, and approve a loan of a sum, such sum as approved to be loaned, shall be disbursed to the applicant upon the execution of a legally valid and enforceable promissory note, deed of trust, or contract, or any combination thereof, by the new or expanded industry and the applicant, in accordance with the approved plan of repayment. In the event a contract is required by the plan of repayment, the board is authorized to join in the execution thereof. The board is further authorized to require such provisions and covenants in such promissory note, deed of trust, or contract, or any combination thereof, deemed reasonably necessary to carry out the provisions of this chapter and require the repayment of said loans. The board and municipalities are further authorized to institute suit, at law or equity, to cause the repayment of such loans, and to protect the interest of the State of Mississippi, and may employ private counsel to do so.
Miss. Code Ann. § 57-10-219 — MS Code / Title 57 / Chapter 1 / 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. § 57-77-29 — MS Code / Title 57 / Chapter 64 / 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. § 57-39-109 — MS Code / Title 57 / Chapter 27 / Section 39-109
Miss. Code Ann. § 57-39-109
Status: in_force

Any agency or institution designated by the division and funded in whole or in part by public funds shall appoint a coordinator from existing staff who shall advise the agency head or institution head on energy-related matters. The coordinator shall confer and cooperate with the board in developing, implementing and evaluating an energy management plan for the agency or institution. Any public school district may appoint a coordinator from its existing staff.
Miss. Code Ann. § 57-117-1 — MS Code / Title 57 / Chapter 69 / Section 117-1
Miss. Code Ann. § 57-117-1
Status: in_force

This chapter shall be known and may be cited as the “Mississippi Health Care Industry Zone Act.”
Miss. Code Ann. § 57-31-1 — MS Code / Title 57 / Chapter 11 / Section 31-1
Miss. Code Ann. § 57-31-1
Status: in_force

Any county in the State of Mississippi bordering on the Mississippi-Alabama state line, traversed by the Tombigbee River and in which is situated a senior institution of higher learning under the control of the Board of Trustees of Institutions of Higher Learning of the State of Mississippi, where the board of supervisors of such county shall find and determine that the public convenience and necessity requires the same, as evidenced by a resolution duly adopted and entered on the official minutes of such board, shall establish an industrial development authority, to be known as the industrial development authority of such county. The county industrial development authority shall be composed of seven (7) resident citizens of such county, who shall be qualified electors therein, appointed by the board of supervisors of such county for a term of four (4) years. One (1) member of such authority shall be appointed by the board of supervisors from each of the five (5) supervisors' districts of said county, and the remaining two (2) members thereof shall be appointed from the county-at-large by said board of supervisors, from a list of four (4) nominees recommended by a nonprofit industrial development foundation operating within such county. Upon the creation of such authority, the members appointed thereto from supervisor district numbers one (1) and two (2) of such county shall be appointed for a term of one (1) year; the members thereof appointed from supervisor district numbers three (3) and four (4) shall be appointed for a term of two (2) years; the members thereof appointed from the county-at-large shall be appointed for a term of three (3) years; and the members thereof appointed from supervisor district number five (5) shall be appointed for a term of four (4) years. Thereafter, all appointments to such authority shall be for a term of four (4) years, or until a successor is qualified and appointed.

Said authority may, with the approval of the board of supervisors of the county in which the same is situated, authorize appointment of two (2) additional associate members of said authority to be appointed by the board of supervisors of any counties adjacent and contiguous to the county in which such authority is created, to serve without a vote.
Miss. Code Ann. § 57-49-37 — MS Code / Title 57 / Chapter 43 / Section 49-37
Miss. Code Ann. § 57-49-37
Status: in_force

The board, in consultation with the committee and council, shall implement all agreements, modifications and technical revisions approved pursuant to this chapter. In doing so, the board may solicit the views of appropriate state agencies, local units of government, and interested citizen groups.
Miss. Code Ann. § 57-71-27 — MS Code / Title 57 / Chapter 65 / Section 71-27
Miss. Code Ann. § 57-71-27
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 Enterprise Development Finance 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 act may be paid from the proceeds of bonds and notes issued under this act.

(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 registrars, paying agents, transfer agents or otherwise; for rating of the bonds; and to purchase insurance.
Miss. Code Ann. § 57-25-7 — MS Code / Title 57 / Chapter 15 / Section 25-7
Miss. Code Ann. § 57-25-7
Status: in_force

The three (3) members of the board appointed or designated to represent the State of Mississippi shall receive a per diem compensation as provided in Section 25-3-69 for each day or fraction thereof occupied with the discharge of official duties, and shall be entitled to reimbursement for all actual and necessary expenses incurred in the discharge of their duties, including mileage, as provided in Section 25-3-41 . 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 and in authorizing this state to accept powers and responsibilities of the appropriate agency or agencies of the federal government related to energy.
Miss. Code Ann. § 57-26-5 — MS Code / Title 57 / Chapter 15 / Section 26-5
Miss. Code Ann. § 57-26-5
Status: in_force

(1) The MDA shall develop, implement and administer the incentive program authorized in Sections 57-26-1 through 57-26-5 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 57-26-1 through 57-26-5 must submit an application and an application fee in the amount of Five Thousand Dollars ($5,000.00) 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; (d) an independent study that identifies the number of out-of-state visitors anticipated to visit the project and the ratio of out-of-state visitors to in-state visitors; and (e) any other information required by the MDA. The Executive Director of the MDA shall review the application and determine if it qualifies as a tourism project under this section and under the rules and regulations promulgated pursuant to this section. If the executive director determines the proposed tourism project qualifies as a tourism project under this section and under the rules and regulations promulgated pursuant to this section, 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 57-26-1 through 57-26-5 . No certificate designating an entity as an approved participant and authorizing the approved participant to participate in the incentive program shall be issued from and after July 1, 2014, for tourism projects that are cultural retail attractions, or from and after July 1, 2027, for other tourism projects. For tourism projects that are cultural retail attractions, no such issued certificate shall be altered or extended after the date last approved as of July 1, 2020.

(3) The MDA shall cause a cost-benefit analysis of the tourism project to be performed by a state institution of higher learning, the university research center or some other entity approved by the MDA.
Miss. Code Ann. § 57-3-19 — MS Code / Title 57 / Chapter 3 / Section 3-19
Miss. Code Ann. § 57-3-19
Status: in_force

(1) All bonds issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of and interest on which shall be payable solely out of the revenue derived from the leasing of the project to finance which bonds are issued. Bonds and interest coupons 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 in the face of each such bond. Such bonds may be executed and delivered at any time and from time to time, may be in such form and denominations and may bear interest irrespective of any interest rate limitation; may be of such tenor, may be in registered or bearer form either as to principal or interest or both, may be payable in such installments and at such time or times not exceeding thirty (30) years from their date, may be payable 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 bonds shall be authorized to be issued. Any bonds issued under the authority of this chapter may be sold at public or private sale from time to time in such manner and at such price as may be determined by the governing body to be most advantageous, and the municipality may pay all expenses, premiums and commissions which the governing body may deem necessary or advantageous in connection with the authorization, sale and issuance thereof. All bonds issued under the authority of this chapter and all interest coupons applicable thereto shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.

(2) Any funds received from the sale of bonds issued under this chapter, including accrued interest thereon, which are not required for immediate disbursement for the purpose for which issued may be invested at the direction of the enterprise in any one or more of the following:

(a) Bonds or other obligations of the United States;

(b) Bonds or other obligations, the payment of the principal and interest of which is unconditionally guaranteed by the United States;

(c) Direct obligations issued by the United States of America or obligations guaranteed in full as to principal and interest by the United States of America, maturing or subject to a repurchase agreement with a qualified state depository bank maturing on or before the date when such funds will be required for disbursement;

(d) Certificates of deposit issued by qualified depositories of the State of Mississippi as approved by the State Depository Commission;

(e) Prime commercial paper;

(f) Bankers' acceptances drawn on and accepted by commercial banks.

(g) Any other investment authorized by any bank, savings bank, savings and loan association, insurance company or similar institutional investor, or combination thereof, which, at the time of authorization, is the owner of all of the bonds.
Miss. Code Ann. § 57-10-223 — MS Code / Title 57 / Chapter 7 / 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. § 57-114-13 — MS Code / Title 57 / Chapter 65 / Section 114-13
Miss. Code Ann. § 57-114-13
Status: in_force

(1) Unless its mFlex agreement prescribes a longer reporting period or additional reporting requirements, each qualified business or industry shall file an annual report with the authority for each qualified economic development project which has been certified, and for which any mFlex tax incentive has been awarded, by the authority in accordance with this chapter, for the longer of the following periods: (a) until the reporting year during which all or any remaining portion of the mFlex tax incentive amount awarded to such qualified business or industry has been applied to offset state taxes, or (b) until the seventh reporting year, provided that an annual report shall in either instance be due in the final reporting year prescribed hereby or by the mFlex agreement. Each annual report shall be due to the authority no later than the last business day of the month following the quarter during which the annual anniversary of its project certification date occurred. Each annual report shall include the information set forth in this section, together with any other information required to be provided by the qualified business or industry pursuant to its mFlex agreement, for the immediately preceding twelve-month period ending on the last day of the month during which the annual anniversary of its project certification date occurred.

(2) Each annual report submitted to the authority by a qualified business or industry shall, at a minimum, contain the following information:

(a) The total qualified investment made between the project certification date through the end of the reporting year, including a breakout of actual expenditures made by the qualified business or industry for manufacturing machinery, nonmanufacturing equipment and component building materials to establish and equip the qualified economic development project;

(b) The incremental qualified investment made during the reporting year, including a breakout of actual expenditures made by the qualified business or industry for manufacturing machinery, nonmanufacturing equipment and component building materials to establish and equip the qualified economic development project;

(c) If applicable, the total number of base full-time jobs;

(d) The total number of people employed in new full-time jobs as of the last day the year preceding the reporting year;

(e) The total number of people employed in new full-time jobs as of the last day the year of the reporting year;

(f) The average employer wage for the reporting year;

(g) The percentage and number, as of the last day of the reporting year, of new full-time employees who are eligible for and offered a health insurance coverage funded in whole or at least fifty percent (50%) by the qualified business or industry (or by a leasing company with respect to leased employees);

(h) A description of employee benefits, including but not limited to, health, dental and/or vision insurance, retirement savings account, etc. made available to employees, as well as a description of any employees to whom the benefits are not made available (e.g., part-time employees);

(i) The total amount of the mFlex tax incentive awarded thereto, which the qualified business or industry has already applied and taken as a credit to offset state taxes through the end of the reporting period;

(j) A list of all affiliates of the qualified business or industry, including the Federal Employer Identification Number for each affiliate, for which any state tax liability thereof has been or is expected to be offset by all or some portion of the mFlex tax incentives awarded to the qualified business or industry, which list shall further identify (i) any affiliate of the qualified business or industry that was not disclosed as such on its application or annual report submitted for the prior reporting period, whichever was more recent, but which has either become an affiliate of the qualified business or industry as of the date the current annual report or which the qualified business or industry desires to utilize all or a portion of its mFlex tax incentive as a credit to offset the affiliate's state tax liability following the date of the current annual report; (ii) any change in the name of any previously disclosed affiliate since the date the qualified business or industry filed its application or annual report for the prior reporting period, whichever was more recent; (iii) any prior affiliate of the qualified business or industry disclosed as such on its application or annual report for the prior reporting period, whichever was more recent, and which is no longer an affiliate of the qualified business or industry as of the date the current annual report; and (iv) any affiliate of the qualified business or industry disclosed as such on its application or annual report for the prior reporting period, whichever was more recent, and which the qualified business or industry no longer desires that the affiliate utilize all or a portion of its mFlex tax incentive as a credit to offset the affiliate's state tax liability following the date of the current annual report.

(3) The authority shall prescribe a form or forms for the annual report.

(4) Notwithstanding the obligation of a qualified business or industry to file an annual report with the authority for each qualified economic development project which has been certified, and for which any mFlex tax incentive has been awarded, the authority is authorized to request from the qualified business or industry at any other time any of the information set forth herein that must be included in an annual report for purposes of determining whether a qualified business or industry has met any of the project performance measures set forth in its mFlex agreement on or before the respective deadlines imposed with respect thereto. Upon any such written request by the authority, the qualified business or industry shall, within thirty (30) days after receipt of the request, provide to the authority a certified copy of the information requested.

(5) If a qualified business or industry fails to either file an annual report with the authority on or before the deadline mandated by subsection (1) of this section, or provide any information requested by the authority pursuant to subsection (4) of this section within the time period mandated by such subsection, the authority shall provide written notice to the qualified business or industry of the failure to report, and the qualified business or industry shall have thirty (30) additional days to cure the reporting failure following its receipt of the notice. If the qualified business or industry thereafter fails to file its annual report with the authority, or provide such information requested by the authority within the thirty-day-cure period, the authority is authorized to suspend or revoke, at the discretion thereof, all or a portion of the amount of the mFlex tax incentive previously awarded to the qualified business or industry for its qualified economic development project.

(6) If a qualified business or industry either fails to achieve or exceeds any project performance measure set forth in its mFlex agreement within or for any time period required by such agreement, the authority shall, following its (a) review of any annual report filed by the qualified business or industry or of any certified information provided by the qualified business or industry pursuant to subsection (4) of this section, and (b) verification based upon such information that the qualified business or industry either failed to achieve or exceeded any of the project performance measures set forth in its mFlex agreement within or for any time period required by such agreement, adjust the mFlex tax incentive awarded thereto for its qualified economic development project such that the award is no longer based upon any one or more of the performance measures set forth in its mFlex agreement, but is instead based upon one or more of the following, as applicable, as of the end of the most recent reporting year for which the annual report was filed: (a) the actual expenditures made by the qualified business or industry for purposes of the calculation prescribed by Section 57-114-9(a) , (b) and (c) ; and (b)(i) the actual number of new full-time jobs created by the qualified business or industry, together with (ii) the actual average employer wage associated therewith, for purposes of the calculations prescribed by Section 57-114-9(d) and (e) .

(7) A qualified business or industry and the authority may, at any time, amend or restate an mFlex agreement in order to modify the performance measures of the qualified business or industry with respect to its qualified economic development project, and in connection with such amendment or amendment and restatement, the authority shall modify the amount of the mFlex tax incentive awarded for the qualified economic development project to comport with the modified performance measures; provided that the modified award amount shall thereafter be subject to the adjustment requirements of subsection (6) of this section.

(8) If the authority adjusts any mFlex tax incentive award pursuant to subsection (6) or subsection (7) of this section, the authority shall issue an amended certification of the corresponding qualified economic development project, which shall specify the amount of mFlex tax incentive award adjustment. The authority shall forward the amended certification, along with any other necessary information, to the Department of Revenue so that the mFlex tax incentive award adjustment for the qualified business or industry can be recorded by the Department of Revenue and used to verify each state tax credit subsequently applied by the qualified business or industry.

(9) If at any time the authority reduces the mFlex tax incentive award granted for the qualified economic development project to an amount less than the total amount of credits already applied and taken by the qualified business or industry, or by one or more affiliates thereof eligible to utilize such credit, to offset state taxes thereof, the Department of Revenue shall charge the qualified business or industry, or such affiliate or affiliates, with an assessment for the amount of state taxes for which no mFlex tax incentive is available, following such reduction by the authority, for application as a tax credit, beginning with those state taxes against which the qualified business or industry most recently applied the credit, and such state tax assessment shall be immediately due and payable.

(10) Any portion of an mFlex tax incentive awarded to the qualified business or industry by the authority for its qualified economic development project pursuant to this chapter that has not been applied, on or before the tenth annual anniversary of the project certificate date, as a credit by such qualified business or industry, or by one or more affiliates thereof eligible to utilize such credit, to offset state taxes otherwise payable, shall expire.

(11) Within thirty (30) days following the end of each calendar quarter, the authority shall provide to the Governor, Lieutenant Governor and the Speaker of the House of Representatives a copy of each amendment to any certification made, together with a copy of each amendment to any mFlex agreement approved and executed, during the immediately preceding calendar quarter.
Miss. Code Ann. § 57-114-11 — MS Code / Title 57 / Chapter 63 / Section 114-11
Miss. Code Ann. § 57-114-11
Status: in_force

(1) A qualified business or industry awarded any mFlex tax incentive by the authority for its qualified economic development project pursuant to Sections 1 through 10 of this act shall not be eligible for, nor shall it apply for or claim, any one or more of the following tax credits, exemptions or incentives for such qualified project:

(a) For any new full-time job, any state income tax credit authorized by Sections 27-7-22.17 , 27-7-22.18 , 27-7-22.19 , 27-7-22.27 , 27-7-22.29 , 27-7-22.34 , 27-7-22.36 and 57-73-21(2) through (5) ;

(b) For any new full-time job, any withholding tax rebate authorized by Sections 57-62-1 through 57-62-7 or Sections 57-100-1 through 57-100-9 ;

(c) Any exemption from state income tax authorized by Section 27-7-30 , Sections 57-80-1 through 57-80-11 , Sections 57-113-1 through 57-113-7 , and Sections 57-113-21 through 57-113-27 ;

(d) Any state income tax credit authorized by Section 27-7-22.20 or Section 27-7-22.35 ;

(e) Any exemption from state sales or use tax authorized by Section 27-65-101(1)(q), (r), (v), (w), (x), (y), (cc), (dd), (ff), (gg), (hh), (kk), (ll), (mm), (nn), (qq), (uu), (vv) , (2) or (3) ; Sections 57-80-1 through 57-80-11 ; Sections 57-113-1 through 57-113-7 ; and Sections 57-113-21 through 57-113-27 ;

(f) Any exemption from state franchise tax authorized by Section 27-13-5(4) , Section 27-13-7(4) , Sections 57-80-1 through 57-80-11 , Sections 57-113-1 through 57-113-7 , and Sections 57-113-21 through 57-113-27 .

(2) Notwithstanding subsection (1) of this section, a qualified business or industry shall not be prohibited from applying for or receiving any of the tax credits, exemptions or incentives described in paragraphs (a) through (f) of subsection (1) of this section for any project or expansion which is not certified by the authority as a qualified economic development project and for which no mFlex tax incentive is awarded by the authority, notwithstanding the fact the qualified business or industry is awarded an mFlex tax incentive by the authority for a specific qualified economic development project undertaken thereby.
Miss. Code Ann. § 57-30-1 — MS Code / Title 57 / Chapter 18 / Section 30-1
Miss. Code Ann. § 57-30-1
Status: in_force

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

(a) “ Approved participant ” means a person, corporation or other entity issued a certificate by the Mississippi Development Authority under Section 57-30-3 .

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

(c) “ Project ” means any family-oriented entertainment enterprise such as campgrounds and theme parks, as designated by the Mississippi Development Authority, with an initial capital investment of not less than Five Million Dollars ($ 5,000,000.00) in federal, local and/or private funds if located in a county in a Tier One area, as designated under Section 57-73-21 , or with an initial capital investment of not less than Three Million Dollars ($ 3,000,000.00) in federal, local and/or private funds if located in a county in a Tier Two area or Tier Three area as designated in Section 57-73-21 . Whether a county is in a Tier One area, Tier Two area or Tier Three area shall be determined by the classification of the area at the time the initial investment is made. The term “ project ” also means any of the following ancillary businesses if located on the project site or within one (1) mile of the project and owned by the owner of the family-oriented entertainment enterprise or owned by an entity legally affiliated with the owner of the family-oriented entertainment enterprise: (i) auditoriums, (ii) dining facilities, (iii) gift shops, and (iv) lodging facilities. However, the capital investment in any such dining facility or lodging facility shall not be included for purposes of meeting the minimum capital investment requirement for a project. The term “ project ” does not mean any business, corporation or entity having a gaming license issued under Section 75-76-1 et seq., Mississippi Code of 1972 , but may include a family-oriented entertainment enterprise owned by such a business, corporation or entity that is in excess of development that the State Gaming Commission requires for the issuance or renewal of a gaming license.

(d) “ State ” means the State of Mississippi.
Miss. Code Ann. § 57-47-9 — MS Code / Title 57 / Chapter 30 / Section 47-9
Miss. Code Ann. § 57-47-9
Status: in_force

The departments, agencies and officers of the state and its subdivisions are hereby authorized to cooperate with the Southeast Interstate Low-Level Radioactive Waste Commission in the furtherance of any of its activities pursuant to the compact.
Miss. Code Ann. § 57-30-1 — MS Code / Title 57 / Chapter 4 / Section 30-1
Miss. Code Ann. § 57-30-1
Status: in_force

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

(a) “ Approved participant ” means a person, corporation or other entity issued a certificate by the Mississippi Development Authority under Section 57-30-3 .

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

(c) “ Project ” means any family-oriented entertainment enterprise such as campgrounds and theme parks, as designated by the Mississippi Development Authority, with an initial capital investment of not less than Five Million Dollars ($ 5,000,000.00) in federal, local and/or private funds if located in a county in a Tier One area, as designated under Section 57-73-21 , or with an initial capital investment of not less than Three Million Dollars ($ 3,000,000.00) in federal, local and/or private funds if located in a county in a Tier Two area or Tier Three area as designated in Section 57-73-21 . Whether a county is in a Tier One area, Tier Two area or Tier Three area shall be determined by the classification of the area at the time the initial investment is made. The term “ project ” also means any of the following ancillary businesses if located on the project site or within one (1) mile of the project and owned by the owner of the family-oriented entertainment enterprise or owned by an entity legally affiliated with the owner of the family-oriented entertainment enterprise: (i) auditoriums, (ii) dining facilities, (iii) gift shops, and (iv) lodging facilities. However, the capital investment in any such dining facility or lodging facility shall not be included for purposes of meeting the minimum capital investment requirement for a project. The term “ project ” does not mean any business, corporation or entity having a gaming license issued under Section 75-76-1 et seq., Mississippi Code of 1972 , but may include a family-oriented entertainment enterprise owned by such a business, corporation or entity that is in excess of development that the State Gaming Commission requires for the issuance or renewal of a gaming license.

(d) “ State ” means the State of Mississippi.
Miss. Code Ann. § 57-77-11 — MS Code / Title 57 / Chapter 71 / Section 77-11
Miss. Code Ann. § 57-77-11
Status: in_force

(1) The Magnolia Venture Capital Corporation shall be formed and operated pursuant to the laws of this state. The articles of incorporation, bylaws and any other agreement relating to the organization or operation of the Magnolia Venture Capital Corporation must comply with the provisions set forth in this section. The Magnolia Venture Capital Corporation will be a for profit corporation.

(2) The executive director of the department shall cause the Magnolia Venture Capital Corporation to be formed, and he shall designate the incorporators. The initial board of directors shall consist of five (5) members, all of whom will be appointed by the executive director of the department. Except as otherwise provided in this subsection (2), members of the initial board of directors shall serve staggered terms as follows: three (3) for terms of five (5) years each and two (2) for terms of three (3) years each. The terms of the members of the board of directors in place (including any initial directors and successors), shall expire on April 17, 1998, and such persons shall cease to serve on the board of directors and shall relinquish all powers and control of the corporation and assets of the corporation. From and after April 17, 1998, the board of directors shall be composed of five (5) members, three (3) of whom shall be appointed by the Governor and two (2) of whom shall be appointed by the Lieutenant Governor. Members of the initial board, appointed from and after April 17, 1998, shall serve staggered terms as follows: one (1) member appointed by the Governor for a term of one (1) year, one (1) member appointed by the Governor for a term of two (2) years, one (1) member appointed by the Governor for a term of three (3) years, one (1) member appointed by the Lieutenant Governor for a term of four (4) years, and one (1) member appointed by the Lieutenant Governor for a term of five (5) years. If the position of an initial director, appointed from and after April 17, 1998, becomes vacant through death, resignation or otherwise, the appropriate appointing authority shall appoint another person to complete the unexpired term. If the position of a successor director becomes vacant through death, resignation or otherwise, the appropriate appointing authority shall appoint another person to complete the unexpired term. After the terms of the initial directors, appointed from and after April 17, 1998, expire, successors shall be chosen by the appropriate appointing authority and shall serve for terms of five (5) years. The appropriate appointing authority may remove a member of the board of directors if, in the opinion of the appointing authority, the board member is not performing his or her duties in a manner consistent with the provisions of this chapter. Members of the initial board, appointed from and after April 17, 1998, and successor directors are eligible to succeed themselves if reappointed by the appropriate appointing authority. The Speaker of the House of Representatives shall appoint two (2) nonvoting advisory members to the board. Such nonvoting advisory members shall serve for terms concurrent with the term of the Speaker of the House of Representatives. If the position of an advisory member becomes vacant through death, resignation or otherwise, the Speaker shall appoint another person to complete the unexpired term. Members of the board shall receive a per diem as provided in Section 25-3-69 , for each day or fraction thereof in performance of their duties, and shall be reimbursed for their actual and necessary expenses incurred in the performance of their duties as provided in Section 25-3-41 . Members of the board shall receive no compensation other than that provided in this subsection (2). If a director is a full-time state employee, he may not receive per diem.

(3) The articles of incorporation shall provide that the name of the entity is the “Magnolia Venture Capital Corporation,” and the registered agent shall be designated by the executive director of the department. The Magnolia Venture Capital Corporation's existence begins upon filing of the articles of incorporation. The Magnolia Venture Capital Corporation's existence is perpetual, unless dissolved as provided herein. The Magnolia Venture Capital Corporation is authorized to issue shares of a number, class and par or no-par value as provided in its articles of incorporation. The general nature of the business of the Magnolia Venture Capital Corporation is to serve as general partner of the Magnolia Venture Capital Fund Limited Partnership, to provide venture capital to Mississippi businesses, to provide financing to high-growth oriented businesses, and to undertake any acts appropriate or necessary to carry out the foregoing. Consistent with the provisions of this chapter, the bylaws, the organizational minutes, the election of officers, the issuance of any stock of the Magnolia Venture Capital Corporation, and any other actions appropriate or necessary for the organization and operation of the Magnolia Venture Capital Corporation shall be of that form and content as determined by the board of directors. Nothing contained in this chapter may prohibit the shareholders or board of directors of the corporation from altering, amending or otherwise modifying the articles of incorporation, bylaws or any other agreement governing the Magnolia Venture Capital Corporation as otherwise permitted under the laws of this state, except that the method of electing directors shall not be amended, altered or otherwise modified; except that the general nature of the business of the Magnolia Venture Capital Corporation may not be amended, altered or otherwise modified or restricted; and except that the Magnolia Venture Capital Corporation may be dissolved, merged or otherwise cease to exist pursuant to the appropriate vote of the board of directors and shareholders. The executive director of the department may expend any discretionary funds he has available and considers appropriate for the purpose of organizing the Magnolia Venture Capital Corporation and promoting the sale of the qualified investments.

(4) The Magnolia Venture Capital Corporation shall cause the fund to be formed as a limited partnership. The partnership agreement relating to the organization and operation of the fund must be of that form and content as determined by the board of directors of the Magnolia Venture Capital Corporation. The Magnolia Venture Capital Corporation shall be the sole general partner of the fund, and the initial limited partner shall be a person or entity designated by the Magnolia Venture Capital Corporation's board of directors. Additional limited partners may be admitted to the fund in accordance with the terms of the partnership agreement.

(5) Except as otherwise provided in subsection (8), the fund shall raise funds to provide financing to high-growth oriented businesses. A “ high-growth oriented business ” is a corporation, general partnership, limited partnership, joint venture, trust, proprietorship, or other similar entity or organization which is expected to experience significant sales growth over the subsequent five-year period. All investments made from investment monies raised by the fund, for which the tax credit provided by this chapter is allowed and for which the tax credit is made available by the fund in the prospectus or offering, must be made to provide venture capital to Mississippi businesses, this venture capital to be used primarily for the purpose of enhancing the production capacity of these businesses or their ability to do business in Mississippi. Seventy percent (70%) of these investment monies acquired by the fund for which the tax credit is allowed and available must be invested to provide venture capital financing of start-up businesses. The remaining thirty percent (30%) may be invested as the general partner of the fund determines to provide capital to Mississippi businesses.

(6)(a) No business may be transacted or indebtedness incurred (not including indebtedness authorized to be incurred in Sections 57-77-15 and 57-77-17 ) except that as is incidental to the organization of the Magnolia Venture Capital Corporation or of the fund or to obtaining subscriptions to or payment for qualified interests, until consideration of Four Million Five Hundred Thousand Dollars ($ 4,500,000.00) has been paid as a capital investment by a private investor or private investors to Magnolia Venture Capital Corporation or to the fund. It is the intent of the Legislature that the Magnolia Venture Capital Corporation and/or the fund shall always maintain a capital investment from a private investor or private investors of at least Four Million Five Hundred Thousand Dollars ($ 4,500,000.00). If the Magnolia Venture Capital Corporation and/or the fund fail to obtain a capital investment from a private investor or private investors of at least Four Million Five Hundred Thousand Dollars ($ 4,500,000.00), or if after having obtained such investment, the total of the private capital investments ever falls below Four Million Five Hundred Thousand Dollars ($ 4,500,000.00), Magnolia Venture Capital Corporation and the fund shall suspend making investments and incurring indebtedness, and, if so directed by Magnolia Capital Corporation, the board of directors of Magnolia Venture Capital Corporation shall dissolve Magnolia Venture Capital Corporation and the fund in the manner provided by law and direct that all sums, causes of action and other assets held by the Magnolia Venture Capital Corporation and the fund be paid and/or assigned to the State Treasurer who shall administer such sums and other assets as provided by law.

(b) If directed by Magnolia Capital Corporation pursuant to Section 57-77-9(5) , the board of directors of Magnolia Venture Capital Corporation shall dissolve Magnolia Venture Capital Corporation and the fund in the manner provided by law and direct that all sums, causes of action and other assets held by the Magnolia Venture Capital Corporation and the fund be paid and/or assigned to the State Treasurer who shall administer such sums and other assets as provided by law.

(7) All securities issued by either the Mississippi Venture Capital Corporation or the fund shall be exempt securities with regard to the Mississippi Uniform Securities Act.
Miss. Code Ann. § 57-67-3 — MS Code / Title 57 / Chapter 67 / Section 67-3
Miss. Code Ann. § 57-67-3
Status: in_force

The Legislature hereby finds and declares that:

(a) There exists in the State of Mississippi a continuing need for gainful employment for the citizens of this state.

(b) To help provide employment opportunities, a division within the Office of the Governor should be created with power to secure the location within this state of the particle beam accelerator known as the Superconducting Super Collider that the United States Department of Energy is planning to build.

(c) In accomplishing this purpose, such division will be acting in all respects for the benefit of the people of the state in the performance of essential public functions and is serving a valid public purpose in improving and otherwise promoting their health, welfare and prosperity, and the enactment of the provisions hereinafter set forth is for a valid public purpose.

(d) Public agencies of the state, as herein defined, must be authorized and empowered to contract with and cooperate with the authority for the purposes herein set out.

(e) The borrowing of money and the issuance of bonds and state bonds for the purposes hereinafter set out serves valid public purposes in that the project will significantly contribute to the employment base and scientific and educational growth of the state.
Miss. Code Ann. § 57-57-3 — MS Code / Title 57 / Chapter 18 / Section 57-3
Miss. Code Ann. § 57-57-3
Status: in_force

The legislature of the state of Mississippi hereby finds and declares that the economy of the state of Mississippi is increasingly dependent upon the international export of Mississippi manufactured goods, commodities, and services, and the export of these products and services has become vital to the stimulation and development of the state's economy, and that expanding international export markets is essential to the creation of and increase in the number of jobs in these sectors of the state's economy. Therefore, it is declared to be the purpose of this chapter to promote the general welfare of all of the people of the state and increase job opportunities through the development and expansion of international export markets for Mississippi products and services, especially those of small and medium sized businesses, by assisting in the creation of an export trade company and by providing financial assistance and tax incentives for Mississippi businesses engaging in export sales.
Miss. Code Ann. § 57-39-103 — MS Code / Title 57 / Chapter 32 / Section 39-103
Miss. Code Ann. § 57-39-103
Status: in_force

The purpose of Sections 57-39-103 through 57-39-115 is to provide for development and implementation of a state energy management plan for all state-owned or state-leased buildings and facilities which will minimize energy consumption and ensure that buildings and facilities are operated with maximum efficiency of energy use.
Miss. Code Ann. § 57-67-21 — MS Code / Title 57 / Chapter 64 / Section 67-21
Miss. Code Ann. § 57-67-21
Status: in_force

The authority may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the authority deems to be in the public interest, without notice and without an election on the question of the issuance thereof. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by the resolution, trust indenture or other security instruments. The issue of refunding bonds, the maturities and other details thereof, the security therefor, the rights of the holders and the rights, duties and obligations of the authority in respect of the same shall be governed by the provisions of this chapter relating to the issue of bonds other than refunding bonds insofar as the same may be applicable. Any such refunding may be effected, whether the obligations to be refunded shall have then matured or shall thereafter mature, either by the exchange of the refunding bonds for the obligations to be refunded thereby with the consent of the holders of the obligations so to be refunded, or by sale of the refunding bonds and the application of the proceeds thereof to the payment of the obligations proposed to be refunded thereby, and regardless of whether the obligations proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise.
Miss. Code Ann. § 57-57-7 — MS Code / Title 57 / Chapter 41 / 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. § 57-49-27 — MS Code / Title 57 / Chapter 18 / Section 49-27
Miss. Code Ann. § 57-49-27
Status: in_force

Prior to the initiation of nuclear waste site characterization activities, the board shall require that a written agreement between the federal department of energy and the state shall be concluded in accordance with the provisions of Sections 57-49-29 through 57-49-33 .

At the completion of site characterization, including area characterization, and prior to the initiation of any subsequent phase of investigation, the federal department of energy shall prepare and administer an oral briefing for the board, the council, the committee, interested members of the state legislature and the governor's office, collectively, in which a synopsis of the previously completed study phase is detailed. The briefing shall include, at a minimum, the significant findings of the study, including those findings which could possibly compromise the site(s) from being developed into a repository for the long-term or temporary storage and/or permanent disposal of high-level radioactive waste or transuranic waste. Any noted deficiencies in the data base, interpretation thereof, conclusions thereto or recommendations therefrom, cited in writing by the technical community of the state or recorded in public hearings in the state, shall be addressed in the briefing. The methods by which those deficiencies were resolved or are to be addressed shall be identified by the department of energy during the briefing. The council and the committee shall determine the adequacy of resolution of the noted deficiencies and shall prepare a written report of their findings to the board. If the findings of the council and the committee and the recommendation of the board indicate inadequate identification of deficiencies and/or inadequate resolution of same, the board may recommend a conflict resolution procedure outlined in the agreement be initiated.
Miss. Code Ann. § 57-61-1 — MS Code / Title 57 / Chapter 55 / 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. § 57-57-11 — MS Code / Title 57 / Chapter 10 / Section 57-11
Miss. Code Ann. § 57-57-11
Status: in_force

The board is hereby authorized to assist in the creation of and actively participate in an export trading company as defined in Title I, Section 103 of the United States Export Trading Company Act of 1982 to promote and facilitate increased exports in Mississippi.
Miss. Code Ann. § 57-89-51 — MS Code / Title 57 / Chapter 73 / Section 89-51
Miss. Code Ann. § 57-89-51
Status: in_force

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

(a) “ Base investment ” means the actual investment made and expended in Mississippi by a production company in connection with the production of a state-certified production in the state. The term “ base investment ” includes amounts expended in Mississippi by a production company as per diem and housing allowances in connection with the production of a state-certified production in the state. The term “base investment” shall not include payroll. However, in the case of a production company, or its owner, principal, member, production partner, independent contractor director or producer, or subsidiary company that (i) is designated and pre-qualified by the Mississippi Development Authority as Mississippi-based or a Mississippi resident; (ii) has filed income taxes in the State of Mississippi during each of the previous three (3) years; and (iii) has engaged in activities related to the production of at least two (2) series in Mississippi during the past ten (10) years, base investment may include payroll and fringes paid for any employee who is not a resident and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968, if so requested by the production company. A production company must submit such a request to the Mississippi Development Authority at the time the company submits an application for approval as a state-certified production. In addition, if base investment includes payroll and fringes, and the payroll and fringes paid for an employee exceeds Three Million Dollars ($3,000,000.00), then only the first Three Million Dollars ($3,000,000.00) of such payroll and fringes may be included in base investment.

(b) “ Employee ” means an individual directly involved in the physical production and/or post-production of a series produced in the state and who is employed by a:

(i) Production company that is directly involved in the physical production and/or post-production of a series in the state;

(ii) Personal service corporation retained by a production company to provide persons used directly in the physical production and/or post-production of a series in the state; or

(iii) Payroll service or loan-out company that is retained by a production company to provide employees who work directly in the physical production and/or post-production of a series in the state.

(c) “ Fringes ” means costs paid by a production company for employee benefits that are not subject to state income tax. Fringes may include, but are not limited to, payments by an employer for unemployment insurance, Federal Insurance Contribution Act (FICA), workers' compensation insurance, pension and welfare benefits and health insurance premiums.

(d) “ Series ” means a nationally distributed connected set of television program episodes, consisting of not less than two (2) episodes made in Mississippi, in whole or in part, for viewing through: traditional television that is broadcast via cable, satellite or over-the-air aerial antenna systems; the digital distribution of television content as streaming media over the Internet through streaming platforms, which may be viewed on digital devices, such as a personal computer or handheld device; or through DVD release. The term “series” shall not include any production or work described in this paragraph (d) that contains any material or performance defined in Section 97-29-103 .

(e) “ Production company ” means a company engaged in the business of producing series. The term “production company” shall not mean or include any company owned, affiliated, or controlled, in whole or in part, by any company or person which is in default on a loan made by the state or a loan guaranteed by the state, or any company or person who has ever declared bankruptcy under which an obligation of the company or person to pay or repay public funds or monies was discharged as a part of such bankruptcy.

(f) “ Payroll ” means salary, wages or other compensation including related benefits paid to employees upon which Mississippi income tax is due and has been withheld.

(g) “ Resident ” or “ resident of Mississippi ” means a natural person, and for the purpose of determining eligibility for the rebate provided by this section, any person domiciled in the State of Mississippi and any other person who maintains a permanent place of abode within the state and spends in the aggregate more than six (6) months of each year within the state.

(h) “ State ” means the State of Mississippi.

(i) “ State-certified production ” means a series approved by the Mississippi Development Authority produced by a production company in the state. An application for approval as a state-certified production must be submitted to the Mississippi Development Authority before production of the project begins.

(2)(a) A production company that expends at least Fifty Thousand Dollars ($50,000.00) in base investment, payroll and/or fringes, in the state shall be entitled to a rebate of a portion of the base investment made by the production company. Subject to the provisions of this section, the amount of the rebate shall be equal to twenty-five percent (25%) of the base investment made by the production company.

(b) In addition to the rebates authorized under paragraphs (a), (c) and (d) of this subsection, a production company may receive a rebate equal to twenty percent (20%) of payroll and fringes paid for any employee who is not a resident and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968. However, if the payroll and fringes paid for an employee exceeds Three Million Dollars ($3,000,000.00), then the rebate is authorized only for the first Three Million Dollars ($3,000,000.00) of such payroll and fringes.

(c) In addition to the rebates authorized under paragraphs (a), (b) and (d) of this subsection, a production company may receive a rebate equal to thirty-five percent (35%) of payroll and fringes paid for any employee who is a resident and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968. However, if the payroll and fringes paid for an employee exceeds Three Million Dollars ($3,000,000.00), then the rebate is authorized only for the first Three Million Dollars ($3,000,000.00) of such payroll and fringes.

(d) In addition to the rebates authorized in paragraphs (a), (b) and (c) of this subsection, a production company may receive an additional rebate equal to five percent (5%) of the payroll and fringes paid for any employee who is an honorably discharged veteran of the United States Armed Forces and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968.

(e) Base investment, payroll and/or fringes for which a rebate may be requested under this section: (i) may not be used or included for the purpose of satisfying any minimum investment required in order to be eligible for a rebate under the Mississippi Motion Picture Incentive Act and (ii) may not be used for and shall not be eligible for any rebate authorized under the Mississippi Motion Picture Incentive Act.

(f) If a series has physical production activities and/or post-production activities both inside and outside the state, then the production company shall be required to provide an itemized accounting for each employee regarding such activities inside and outside the state for the purposes of proration of eligible payroll based on the percentage of activities performed in the state.

(g) The total amount of rebates authorized in any fiscal year shall not exceed Ten Million Dollars ($10,000,000.00) in the aggregate.

(2) 1 A production company desiring a rebate under this section must submit a rebate request to the Department of Revenue upon completion of the project. The request must include a detailed accounting of the base investment made by the production company and any other information required by the Department of Revenue. Rebates made by the Department of Revenue under this section shall be made from current income tax collections.

(3) The Department of Revenue shall have all powers necessary to implement and administer the provisions of this section, and the Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
Miss. Code Ann. § 57-49-7 — MS Code / Title 57 / Chapter 27 / Section 49-7
Miss. Code Ann. § 57-49-7
Status: in_force

The Nuclear Waste Policy Advisory Council hereby created and hereinafter referred to as the “council” shall exercise the powers and duties and discharge the responsibilities enumerated herein. The council shall consist of the following members, each of whom shall be a qualified elector.

Two (2) members shall be appointed by the Speaker of the House of Representatives from among the membership of the House; two (2) members shall be appointed by the Lieutenant Governor from among the membership of the Senate; four (4) members shall be appointed by the Governor or his designee, one (1) of whom shall be a member of the Governor's staff, one (1) of whom shall be a member of a statewide, chartered, public interest group, one (1) of whom shall be a resident from the various counties, except Perry County, which comprise the Fifth Congressional District of the State of Mississippi as it exists on the date of the passage of this chapter and one (1) of whom shall be from Perry County at large; one (1) member who shall be the Executive Director of the Department of Environmental Quality or his designee; one (1) member who shall be the Attorney General or his staff designee and who shall serve in a nonvoting capacity; one (1) member shall be appointed by the Perry County Board of Supervisors from among the nongovernmental members of the general public legally residing in Perry County; and one (1) member shall be appointed by the Town of Richton Board of Aldermen from among the nongovernmental members of the general public legally residing in the Town of Richton, Perry County, Mississippi; one (1) member shall be appointed by the New Augusta Board of Aldermen from among the nongovernmental members of the general public legally residing in the Town of New Augusta, Perry County, Mississippi; one (1) member shall be appointed by the Beaumont Board of Aldermen from among the nongovernmental members of the general public legally residing in Beaumont, Perry County, Mississippi; and one (1) member shall be appointed by the board of supervisors of each county in the State of Mississippi wherein an operational commercial nuclear facility is located. A chairman and a secretary shall be elected annually from among the membership of the council.

The members shall be appointed to serve terms of two (2) years. Vacancies in office shall be filled by appointment in the same manner as the original appointment to the position which becomes vacant. An appointment to fill a vacancy other than by expiration of a term of office shall be for the balance of the unexpired term.

The members of the council shall receive reimbursement for mileage and actual expenses incurred in the performance of their duties at the rate authorized by Section 25-3-41 . Members of the council who are state employees shall be reimbursed for those expenses incurred which are authorized by Section 25-3-41 .

Provided that funding is available under Section 57-49-39 , the members of the council shall receive per diem compensation at the rate authorized by Section 25-3-69 for each day spent in the actual discharge of their duties when attending a meeting of the council.
Miss. Code Ann. § 57-44-29 — MS Code / Title 57 / Chapter 25 / 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. § 57-10-159 — MS Code / Title 57 / Chapter 5 / Section 10-159
Miss. Code Ann. § 57-10-159
Status: in_force

There is hereby created the Small Business Consortium Board which shall be the policymaking body for the state's program of services to nonagricultural small businesses. The consortium board will be composed of the following seven (7) members: The Executive Director of the Department of Economic and Community Development; the Director of the University Research Center; the Director of the Department of Finance and Administration; the Director of the Enterprise Development Division of the Department of Economic and Community Development; the president of a public junior college appointed by the Mississippi Junior College Association; the President of the Certified Development Company of Mississippi, Inc.; and the District Director of the Small Business Administration.

Members of the consortium board shall receive no compensation for their services as members of the board. All consortium board members who are employees of the state or any entity thereof may receive reimbursement for actual and necessary traveling and subsistence expenses incurred, such reimbursement to be in the manner provided for in Section 25-3-41 .

A majority of the consortium board shall constitute a quorum, but less than a quorum may adjourn the meeting from time to time. The consortium board shall hold its meetings on at least a semiannual basis by call of the coordinator or a majority of the consortium board, and such meetings may be held at any place within the State of Mississippi acceptable to a majority of the board.
Miss. Code Ann. § 57-121-11 — MS Code / Title 57 / Chapter 79 / Section 121-11
Miss. Code Ann. § 57-121-11
Status: in_force

To effectuate the purposes of this chapter, any office, division, board, bureau, committee, institution or agency of the state, or any political subdivision thereof, shall, at the request of the MDA, provide the employees, facilities, assistance, information and data needed to enable the MDA to carry out its duties. The MDA shall, at a minimum, work with the Department of Revenue to verify applicant tax information, and with the Department of Human Services to promote application by childcare organizations.

As soon as possible after May 20, 2020, the Secretary of State shall notify all registered businesses of the availability of grants under the program.
Miss. Code Ann. § 57-10-225 — MS Code / Title 57 / Chapter 3 / Section 10-225
Miss. Code Ann. § 57-10-225
Status: in_force

The company may make, and undertake commitments to make, loans to lenders under terms and conditions requiring the proceeds thereof to be used by such lenders to make loans to eligible businesses. Loan commitments or actual loans may be originated through and serviced by any such lender. As a condition to a lender's participating in such loan, such lender shall agree to use the proceeds of such loan within a reasonable period of time to make loans or purchase loans to provide eligible businesses, or finance the projects of eligible businesses, in the state or, if such lender has made a commitment to make loans to provide eligible businesses on the basis of a commitment from the company to purchase such loans, such lender will make such loans within a reasonable period of time.
Miss. Code Ann. § 57-18-3 — MS Code / Title 57 / Chapter 7 / Section 18-3
Miss. Code Ann. § 57-18-3
Status: in_force

The Legislature finds and declares:

(a) That the economic progress of Mississippi depends in large measure upon the development and wise use of the natural resources of this state;

(b) That the forest, wildlife and fisheries resources in this state constitute a vital segment of the natural resources available in Mississippi;

(c) That the forest, wildlife and fisheries resources, when properly managed and efficiently utilized, contribute significantly to the economic well being of Mississippi;

(d) That forestry, wildlife and related natural resource research programs can be coordinated, integrated and strengthened in a more efficient and effective manner when funded and managed jointly within a single administrative unit;

(e) That there is a present and increasing need for additional knowledge of natural resource management and utilization practices, the impact of such practices on the long-term viability of forest, wildlife and fishery resources, and the interrelationship between natural resource management and utilization practices and those aspects of environmental quality associated with the state's forest and water resources; and

(f) That this chapter is specifically designed to consolidate within a single administrative unit diverse programs of research which address the forest, wildlife and fisheries resources of the state and the management and utilization thereof.
Miss. Code Ann. § 57-39-13 — MS Code / Title 57 / Chapter 4 / Section 39-13
Miss. Code Ann. § 57-39-13
Status: in_force

Hearings shall be open to the public and shall be held upon such call or notice as the board shall deem advisable, in compliance with and as directed by federal and state statutes. The chairman, vice chairman or employee of the board designated by it to hold any inquiry, investigation or hearing shall have the power to administer oaths and affirmations and certify to all official acts.
Miss. Code Ann. § 57-10-429 — MS Code / Title 57 / Chapter 10 / Section 10-429
Miss. Code Ann. § 57-10-429
Status: in_force

In the event that any of the members or officers of the board of directors of the corporation shall cease to be members or officers of the board prior to the delivery of any bonds signed by them, their signatures or facsimiles thereof shall nevertheless be valid and sufficient for all purposes, the same as if such members or officers had remained in office until such delivery.
Miss. Code Ann. § 57-43-5 — MS Code / Title 57 / Chapter 34 / Section 43-5
Miss. Code Ann. § 57-43-5
Status: in_force

The Mississippi Department of Transportation may accept federal funds to carry out the provisions of this chapter. All federal grants received under provisions of this chapter shall be expended for the purposes set forth in the federal grants. The transportation department, upon a finding that sufficient federal grants for railroad rehabilitation are not available, and with the approval of the State Fiscal Management Board, may make grants to railroad corporations in a total amount not to exceed Two Million Dollars ($ 2,000,000.00) from the Railroad Revitalization Fund.
Miss. Code Ann. § 57-10-31 — MS Code / Title 57 / Chapter 7 / Section 10-31
Miss. Code Ann. § 57-10-31
Status: in_force

No officer or director of this corporation shall ever be held personally liable for contracts, debts or defaults of this corporation nor shall any mere informality in organization have the effect of rendering these null or of exposing the officers or directors to any such liability or responsibility. However, the officers, directors, agents and employees of the corporation shall be liable for any fraudulent or illegal diversion or misappropriation of the funds of the corporation which any such person knowingly and willfully caused, permitted or conspired to permit to be made, and all such officers, directors, agents and employees entrusted with the custody of the securities of or authorized to disburse the funds of the corporation shall be bonded, either by a blanket bond or by individual bonds, with a surety bond or bonds with a minimum limitation of One Hundred Thousand Dollars ($ 100,000.00) coverage for each person covered thereby, conditioned upon the faithful performance of their duties, the premium for which shall be paid out of the assets of the corporation.
Miss. Code Ann. § 57-10-707 — MS Code / Title 57 / Chapter 4 / Section 10-707
Miss. Code Ann. § 57-10-707
Status: in_force

(1) To the extent funds are available, the Mississippi Development Authority, in cooperation with public and private sector partners, is authorized to establish a program modeled on comparable initiatives throughout the nation that provides grants and loans and/or promotes access to healthy food retailers that increase access to fresh fruits and vegetables, in natural and/or frozen form, and other affordable healthy food in underserved communities.

(2) The agency may contract with one or more qualified nonprofit organizations or community development financial institutions to administer the program described in this article through a public-private partnership, to raise matching funds, market the program statewide, evaluate applicants, make award decisions, underwrite loans and monitor compliance and impact. The agency and its partners shall coordinate with complementary nutrition assistance and education programs.

(3) Any funding provided under the program shall be provided on a competitive, one-time basis as appropriate for the eligible project. No state funds shall be directly provided as a source of funding for any food retailer under this program, but may be used by the agency for its administrative duties in carrying out the provisions of this article.

(4)(a) The program may provide technical assistance and/or funding for projects such as:

(i) New construction of healthy food retailers.

(ii) Store renovations, expansion and infrastructure upgrades that improve the availability and quality of fresh produce.

(iii) Farmers' markets and public markets, food cooperatives, mobile markets and delivery projects and distribution projects that enable food retailers in underserved communities to regularly obtain fresh produce.

(iv) Other projects that create or improve healthy food retail outlets that meet the intent of this article as determined by the agency.

(b) Funding made available for projects included in paragraph (a) of this subsection may be used for the following purposes:

(i) Site acquisition and preparation.

(ii) Construction costs.

(iii) Equipment and furnishings.

(iv) Workforce training.

(v) Security.

(vi) Certain predevelopment costs such as market studies and appraisals.

(vii) Working capital for initial inventory and costs.

(5) An applicant for funding may include, but not be limited to, a sole proprietorship, partnership, limited liability company, corporation or cooperative.

(6) In order to be considered for funding, an applicant shall meet the following eligibility criteria:

(a) The project for which the applicant seeks funding shall benefit an underserved community.

(b) The applicant shall demonstrate a meaningful commitment to sell fresh fruits and vegetables, in natural and/or frozen form, according to a measurable standard established by the agency.

(c) The applicant shall not locate the project in an area where it would be directly competing against an existing food retailer.

(7) Applicants shall be evaluated on the following financial criteria in order to determine the funding awarded:

(a) Demonstrated capacity to successfully implement the project, including the applicant's relevant experience and the likelihood that the project will be economically self-sustaining.

(b) The ability of the applicant to repay debt.

(c) The degree to which the project requires an investment of public funding to move forward, create impact or be competitive, and the level of need in the area to be served. Additional factors that will improve or preserve retail access for low-income residents, such as proximity to public transit lines, also may be taken into account.

(d) The degree to which the project will promote sales of fresh produce, particularly Mississippi-grown fruits and vegetables.

(e) The degree to which the project will have a positive economic impact on the underserved community, including, creating or retaining jobs for local residents.

(f) Other criteria that the agency determines to be consistent with the purposes of this article.

(8) The agency shall establish program benchmarks and reporting processes to make certain that the program benefits the communities in the program area. The agency shall likewise establish monitoring and accountability mechanisms for projects receiving grants or loans, such as tracking fruit and vegetable sales data.

(9) The agency shall prepare and submit an annual report to the Legislature on any projects funded and outcome data.

(10) The agency shall establish rules for the implementation of this article.
Miss. Code Ann. § 57-23-5 — MS Code / Title 57 / Chapter 3 / Section 23-5
Miss. Code Ann. § 57-23-5
Status: in_force

The board of trustees of state institutions of higher learning is hereby authorized and directed to establish a research institute of pharmaceutical sciences at the University of Mississippi under the direction of the chancellor and such other administrative authorities within the university as said board of trustees may determine.
Miss. Code Ann. § 57-79-3 — MS Code / Title 57 / Chapter 65 / Section 79-3
Miss. Code Ann. § 57-79-3
Status: in_force

The Legislature finds that:

(a) Many small towns and cities will benefit from professional and financial assistance;

(b) The improvement of small towns and cities benefit the economic and general welfare of the people of the State of Mississippi;

(c) Establishment of the Mississippi Small Town Development Program is an effective means to restore and strengthen Mississippi's small towns; and

(d) It is the intent of the Legislature to establish the Mississippi Small Town Development Program.
Miss. Code Ann. § 57-61-29 — MS Code / Title 57 / Chapter 57 / Section 61-29
Miss. Code Ann. § 57-61-29
Status: in_force

(1) Pending the issuance of bonds of the state as authorized under this chapter, the seller is hereby authorized in accordance with the provisions of this chapter and on the credit of the state, to make temporary borrowings not to exceed two (2) years in anticipation of the issue of bonds in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issue of bonds. In order to provide for and in connection with such temporary borrowings, the seller is hereby authorized in the name and on behalf of the state, and in accordance with Section 57-61-27(1), Mississippi Code of 1972 , to enter into any purchase, loan or credit agreement, or agreements, or other agreement or agreements with any banks or trust companies or other lending institutions, investment banking firms or persons in the United States having power to enter into the same, which agreements may contain such provisions not inconsistent with the provisions of this chapter as may be authorized by the seller.

(2) All temporary borrowings made under this section shall be evidenced by notes of the state which shall be issued, from time to time, for such amounts not exceeding in the aggregate the applicable statutory and constitutional debt limitation, in such form and in such denominations and subject to terms and condition of sale and issue, prepayment or redemption and maturity, rate or rates of interest and time of payment of interest as the seller shall authorize and direct and in accordance with this chapter. Such authorization and direction may provide for the subsequent issuance of replacement notes to refund, upon issuance thereof, such notes, and may specify such other terms and conditions with respect to the notes and replacement notes thereby authorized for issuance as the seller may determine and direct.

(3) When the authorization and direction of the seller provide for the issuance of replacement notes, the seller is hereby authorized in the name and on behalf of the state to enter into agreements with any banks, trust companies, investment banking firms or other institutions or persons in the United States having the power to enter the same:

(a) To purchase or underwrite an issue or series of issues of notes.

(b) To enter into any purchase, loan or credit agreements, and to draw moneys pursuant to any such agreements on the terms and conditions set forth therein and to issue notes as evidence of borrowings made under any such agreements.

(c) To appoint or act as issuing and paying agent or agents with respect to notes.

(d) To do such other acts as may be necessary or appropriate to provide for the payment, when due, of the principal of and interest on such notes.

Such agreements may provide for the compensation of any purchasers or underwriters of notes or replacement notes by payment of a fixed fee or commission at the time of issuance thereof, and for all other costs and expenses, including fees for agreements related to the notes issuing and paying agent costs. Costs and expenses of issuance may be paid from the proceeds of the notes.

(4) When the authorization and direction of the seller provides for the issuance of replacement notes, it shall, at or prior to the time of delivery of these notes or replacement notes, determine the principal amounts, dates of issue, interest rate or rates, rates of discount, denominations and all other terms and conditions relating to the issuance. The State Treasurer shall perform all acts and things necessary to pay or cause to be paid, when due, all principal of and interest on the notes being refunded by replacement notes and to assure that the same may draw upon any moneys available for that purpose pursuant to any purchase loan or credit agreements established with respect thereto, all subject to the authorization and direction of the seller.

(5) Outstanding notes evidencing such borrowings may be funded and retired by the issuance and sale of the bonds of the state as hereinafter authorized. The refunding bonds must be issued and sold not later than a date two (2) years after the date of issuance of the first notes evidencing such borrowings to the extent that payment of such notes has not otherwise been made or provided for by sources other than proceeds of replacement notes.

(6) The proceeds of all such temporary borrowing shall be paid to the State Treasurer to be held and disposed of in accordance with the provisions of Section 57-61-31, Mississippi Code of 1972 .

(7) Notes issued hereunder, and the income therefrom, shall be exempt from all taxation in the State of Mississippi.
Miss. Code Ann. § 57-25-7 — MS Code / Title 57 / Chapter 18 / Section 25-7
Miss. Code Ann. § 57-25-7
Status: in_force

The three (3) members of the board appointed or designated to represent the State of Mississippi shall receive a per diem compensation as provided in Section 25-3-69 for each day or fraction thereof occupied with the discharge of official duties, and shall be entitled to reimbursement for all actual and necessary expenses incurred in the discharge of their duties, including mileage, as provided in Section 25-3-41 . 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 and in authorizing this state to accept powers and responsibilities of the appropriate agency or agencies of the federal government related to energy.
Miss. Code Ann. § 57-43-9 — MS Code / Title 57 / Chapter 33 / 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. § 57-61-29 — MS Code / Title 57 / Chapter 28 / Section 61-29
Miss. Code Ann. § 57-61-29
Status: in_force

(1) Pending the issuance of bonds of the state as authorized under this chapter, the seller is hereby authorized in accordance with the provisions of this chapter and on the credit of the state, to make temporary borrowings not to exceed two (2) years in anticipation of the issue of bonds in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issue of bonds. In order to provide for and in connection with such temporary borrowings, the seller is hereby authorized in the name and on behalf of the state, and in accordance with Section 57-61-27(1), Mississippi Code of 1972 , to enter into any purchase, loan or credit agreement, or agreements, or other agreement or agreements with any banks or trust companies or other lending institutions, investment banking firms or persons in the United States having power to enter into the same, which agreements may contain such provisions not inconsistent with the provisions of this chapter as may be authorized by the seller.

(2) All temporary borrowings made under this section shall be evidenced by notes of the state which shall be issued, from time to time, for such amounts not exceeding in the aggregate the applicable statutory and constitutional debt limitation, in such form and in such denominations and subject to terms and condition of sale and issue, prepayment or redemption and maturity, rate or rates of interest and time of payment of interest as the seller shall authorize and direct and in accordance with this chapter. Such authorization and direction may provide for the subsequent issuance of replacement notes to refund, upon issuance thereof, such notes, and may specify such other terms and conditions with respect to the notes and replacement notes thereby authorized for issuance as the seller may determine and direct.

(3) When the authorization and direction of the seller provide for the issuance of replacement notes, the seller is hereby authorized in the name and on behalf of the state to enter into agreements with any banks, trust companies, investment banking firms or other institutions or persons in the United States having the power to enter the same:

(a) To purchase or underwrite an issue or series of issues of notes.

(b) To enter into any purchase, loan or credit agreements, and to draw moneys pursuant to any such agreements on the terms and conditions set forth therein and to issue notes as evidence of borrowings made under any such agreements.

(c) To appoint or act as issuing and paying agent or agents with respect to notes.

(d) To do such other acts as may be necessary or appropriate to provide for the payment, when due, of the principal of and interest on such notes.

Such agreements may provide for the compensation of any purchasers or underwriters of notes or replacement notes by payment of a fixed fee or commission at the time of issuance thereof, and for all other costs and expenses, including fees for agreements related to the notes issuing and paying agent costs. Costs and expenses of issuance may be paid from the proceeds of the notes.

(4) When the authorization and direction of the seller provides for the issuance of replacement notes, it shall, at or prior to the time of delivery of these notes or replacement notes, determine the principal amounts, dates of issue, interest rate or rates, rates of discount, denominations and all other terms and conditions relating to the issuance. The State Treasurer shall perform all acts and things necessary to pay or cause to be paid, when due, all principal of and interest on the notes being refunded by replacement notes and to assure that the same may draw upon any moneys available for that purpose pursuant to any purchase loan or credit agreements established with respect thereto, all subject to the authorization and direction of the seller.

(5) Outstanding notes evidencing such borrowings may be funded and retired by the issuance and sale of the bonds of the state as hereinafter authorized. The refunding bonds must be issued and sold not later than a date two (2) years after the date of issuance of the first notes evidencing such borrowings to the extent that payment of such notes has not otherwise been made or provided for by sources other than proceeds of replacement notes.

(6) The proceeds of all such temporary borrowing shall be paid to the State Treasurer to be held and disposed of in accordance with the provisions of Section 57-61-31, Mississippi Code of 1972 .

(7) Notes issued hereunder, and the income therefrom, shall be exempt from all taxation in the State of Mississippi.