Miss. Code Ann. § 57-105-1 — MS Code / Title 57 / Chapter 64 / Section 105-1
Miss. Code Ann. § 57-105-1
Status: in_force

(1) As used in this section:

(a) “ Adjusted purchase price ” means the investment in the qualified community development entity for the qualified equity investment, substantially all of the proceeds of which are used to make qualified low-income community investments in Mississippi.

For the purposes of calculating the amount of qualified low-income community investments held by a qualified community development entity, an investment will be considered held by a qualified community development entity even if the investment has been sold or repaid; provided that the qualified community development entity reinvests an amount equal to the capital returned to or recovered by the qualified community development entity from the original investment, exclusive of any profits realized, in another qualified low-income community investment in Mississippi, including any federal Indian reservation located within the geographical boundary of Mississippi within twelve (12) months of the receipt of such capital. A qualified community development entity will not be required to reinvest capital returned from the qualified low-income community investments after the sixth anniversary of the issuance of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment, and the qualified low-income community investment will be considered held by the qualified community development entity through the seventh anniversary of the qualified equity investment's issuance.

(b) “ Applicable percentage ” means:

(i) For any equity investment issued prior to July 1, 2008, four percent (4%) for each of the second through seventh credit allowance dates for purposes of the taxes imposed by Section 27-7-5 and one and one-third percent (1- 1 / 3 %) for each of the second through seventh credit allowance dates for purposes of the taxes imposed by Sections 27-15-103 , 27-15-109 and 27-15-123 .

(ii) For any equity investment issued from and after July 1, 2008, eight percent (8%) for each of the first through third credit allowance dates for purposes of the taxes imposed by Section 27-7-5 or the taxes imposed by Sections 27-15-103 , 27-15-109 and 27-15-123 .

(c) “ Credit allowance date ” means, with respect to any qualified equity investment:

(i) The later of:

1. The date upon which the qualified equity investment is initially made; or

2. The date upon which the Mississippi Development Authority issues a certificate under subsection (4) of this section; and

(ii) 1. For equity investments issued prior to July 1, 2008, each of the subsequent six (6) anniversary dates of the date upon which the investment is initially made; or

2. For equity investments issued from and after July 1, 2008, each of the subsequent two (2) anniversary dates of the date determined as provided for in subparagraph (i) of this paragraph.

(d) “Qualified community development entity” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended, if the entity has entered into an Allocation Agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury with respect to credits authorized by Section 45D of the Internal Revenue Code of 1986 , as amended.

(e) “Qualified active low-income community business” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended.

(f) “Qualified equity investment” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended. The investment does not have to be designated as a qualified equity investment by the Community Development Financial Institutions Fund of the United States Treasury to be considered a qualified equity investment under this section but otherwise must meet the definition under the Internal Revenue Code. In addition to meeting the definition in Section 45D of the Internal Revenue Code such investment must also:

(i) Have been acquired after January 1, 2007, at its original issuance solely in exchange for cash; and

(ii) Have been allocated by the Mississippi Development Authority.

For the purposes of this section, such investment shall be deemed a qualified equity investment on the later of the date such qualified equity investment is made or the date on which the Mississippi Development Authority issues a certificate under subsection (4) of this section allocating credits based on such investment.

(g) “Qualified low-income community investment” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended; provided, however, that the maximum amount of qualified low-income community investments issued for a single qualified active low-income community business, on an aggregate basis with all of its affiliates, that may be included for purposes of allocating any credits under this section shall not exceed Ten Million Dollars ($10,000,000.00), in the aggregate, whether issued by one (1) or several qualified community development entities.

(2) A taxpayer that holds a qualified equity investment on the credit allowance date shall be entitled to a credit applicable against the taxes imposed by Sections 27-7-5 , 27-15-103 , 27-15-109 and 27-15-123 during the taxable year that includes the credit allowance date. The amount of the credit shall be equal to the applicable percentage of the adjusted purchase price paid to the qualified community development entity for the qualified equity investment. The amount of the credit that may be utilized in any one (1) tax year shall be limited to an amount not greater than the total tax liability of the taxpayer for the taxes imposed by the above-referenced sections. The credit shall not be refundable or transferable. Any unused portion of the credit may be carried forward for seven (7) taxable years beyond the credit allowance date on which the credit was earned. The maximum aggregate amount of qualified equity investments that may be allocated by the Mississippi Development Authority may not exceed an amount that would result in taxpayers claiming in any one (1) state fiscal year credits in excess of Fifteen Million Dollars ($15,000,000.00), exclusive of credits that might be carried forward from previous taxable years; however, a maximum of one-third ( 1 / 3 ) of this amount may be allocated as credits for taxes imposed by Sections 27-15-103 , 27-15-109 and 27-15-123 . Any taxpayer claiming a credit under this section against the taxes imposed by Sections 27-7-5 , 27-15-103 , 27-15-109 and 27-15-123 shall not be required to pay any additional tax under Section 27-15-123 as a result of claiming such credit. The Mississippi Development Authority shall allocate credits within this limit as provided for in subsection (4) of this section.

(3) Tax credits authorized by this section that are earned by a partnership, limited liability company, S corporation or other similar pass-through entity, shall be allocated among all partners, members or shareholders, respectively, either in proportion to their ownership interest in such entity or as the partners, members or shareholders mutually agree as provided in an executed document. Such allocation shall be made each taxable year of such pass-through entity which contains a credit allowance date.

(4) The qualified community development entity shall apply for credits with the Mississippi Development Authority on forms prescribed by the Mississippi Development Authority. The qualified community development entity must pay an application fee of One Thousand Dollars ($1,000.00) to the Mississippi Development Authority at the time the application is submitted. In the application the qualified community development entity shall certify to the Mississippi Development Authority the dollar amount of the qualified equity investments made or to be made in this state, including in any federal Indian reservation located within the state's geographical boundary, during the first twelve-month period following the initial credit allowance date. The Mississippi Development Authority shall allocate credits based on the dollar amount of qualified equity investments as certified in the application. Once the Mississippi Development Authority has allocated credits to a qualified community development entity, if the corresponding qualified equity investment has not been issued as of the date of such allocation, then the corresponding qualified equity investment must be issued not later than one hundred twenty (120) days from the date of such allocation. If the qualified equity investment is not issued within such time period, the allocation shall be cancelled and returned to the Mississippi Development Authority for reallocation. Upon final documentation of the qualified low-income community investments, if the actual dollar amount of the investments is lower than the amount estimated, the Mississippi Development Authority shall adjust the tax credit allowed under this section. The Department of Revenue may recapture all of the credit allowed under this section if:

(a) Any amount of federal tax credits available with respect to a qualified equity investment that is eligible for a tax credit under this section is recaptured under Section 45D of the Internal Revenue Code of 1986 , as amended; or

(b) The qualified community development entity redeems or makes any principal repayment with respect to a qualified equity investment prior to the seventh anniversary of the issuance of the qualified equity investment; or

(c) The qualified community development entity fails to maintain at least eighty-five percent (85%) of the proceeds of the qualified equity investment in qualified low-income community investments in Mississippi at any time prior to the seventh anniversary of the issuance of the qualified equity investment.

Any credits that are subject to recapture under this subsection shall be recaptured from the taxpayer that actually claimed the credit.

The Mississippi Development Authority shall not allocate any credits under this section after July 1, 2024.

(5) Each qualified community development entity that receives qualified equity investments to make qualified low-income community investments in Mississippi must annually report to the Mississippi Development Authority the North American Industry Classification System Code, the county, the dollars invested, the number of jobs assisted and the number of jobs assisted with wages over one hundred percent (100%) of the federal poverty level for a family of four (4) of each qualified low-income community investment.

(6) The Mississippi Development Authority shall file an annual report on all qualified low-income community investments with the Governor, the Clerk of the House of Representatives, the Secretary of the Senate and the Secretary of State describing the North American Industry Classification System Code, the county, the dollars invested, the number of jobs assisted and the number of jobs assisted with wages over one hundred percent (100%) of the federal poverty level for a family of four (4) of each qualified low-income community investment. The annual report will be posted on the Mississippi Development Authority's Internet website.

(7)(a) The purpose of this subsection is to authorize the creation and establishment of public benefit corporations for financing arrangements regarding public property and facilities.

(b) As used in this subsection:

(i) “ New Markets Tax Credit transaction ” means any financing transaction which utilizes either this section or Section 45D of the Internal Revenue Code of 1986 , as amended.

(ii) “ Public benefit corporation ” means a nonprofit corporation formed or designated by a public entity to carry out the purposes of this subsection.

(iii) “ Public entity or public entities ” includes utility districts, regional solid waste authorities, regional utility authorities, community hospitals, regional airport authorities, municipal airport authorities, community and junior colleges, educational building corporations established by or on behalf of the state institutions of higher learning, school districts, planning and development districts, county economic development districts, urban renewal agencies, any other regional or local economic development authority, agency or governmental entity, and any other regional or local industrial development authority, agency or governmental entity.

(iv) “ Public property or facilities ” means any property or facilities owned or leased by a public entity or public benefit corporation.

(c) Notwithstanding any other provision of law to the contrary, public entities are authorized pursuant to this subsection to create one or more public benefit corporations or designate an existing corporation as a public benefit corporation for the purpose of entering into financing agreements and engaging in New Markets Tax Credit transactions, which shall include, without limitation, arrangements to plan, acquire, renovate, construct, lease, sublease, manage, operate and/or improve new or existing public property or facilities located within the boundaries or service area of the public entity. Any financing arrangement authorized under this subsection shall further any purpose of the public entity and may include a term of up to fifty (50) years.

(d) Notwithstanding any other provision of law to the contrary and in order to facilitate the acquisition, renovation, construction, leasing, subleasing, management, operating and/or improvement of new or existing public property or facilities to further any purpose of a public entity, public entities are authorized to enter into financing arrangements in order to transfer public property or facilities to and/or from public benefit corporations, including, without limitation, sales, sale-leasebacks, leases and lease-leasebacks, provided such transfer is related to any New Markets Tax Credit transaction furthering any purpose of the public entity. Any such transfer under this paragraph (d) and the public property or facilities transferred in connection therewith shall be exempted from any limitation or requirements with respect to leasing, acquiring, and/or constructing public property or facilities.

(e) With respect to a New Markets Tax Credit transaction, public entities and public benefit corporations are authorized to enter into financing arrangements with any governmental, nonprofit or for-profit entity in order to leverage funds not otherwise available to public entities for the acquisition, construction and/or renovation of properties transferred to such public benefit corporations. The use of any funds loaned by or contributed by a public benefit corporation or borrowed by or otherwise made available to a public benefit corporation in such financing arrangement shall be dedicated solely to (i) the development of new properties or facilities and/or the renovation of existing properties or facilities or operation of properties or facilities, and/or (ii) the payment of costs and expenditures related to any such financing arrangements, including, but not limited to, funding any reserves required in connection therewith, the repayment of any indebtedness incurred in connection therewith, and the payment of fees and expenses incurred in connection with the closing, administration, accounting and/or compliance with respect to the New Markets Tax Credit transaction.

(f) A public benefit corporation created pursuant to this subsection shall not be a political subdivision of the state but shall be a nonprofit corporation organized and governed under the provisions of the laws of this state and shall be a special purpose corporation established to facilitate New Markets Tax Credit transactions consistent with the requirements of this section.

(g) Neither this subsection nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the public entity or public benefit corporation might otherwise have under any laws of this state, and this subsection is cumulative to any such powers. This subsection does and shall be construed to provide a complete additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws.

(8) The Mississippi Development Authority shall promulgate rules and regulations to implement the provisions of this section.
Miss. Code Ann. § 57-31-35 — MS Code / Title 57 / Chapter 9 / Section 31-35
Miss. Code Ann. § 57-31-35
Status: in_force

(1) For the purposes of this section, the following words shall have the meanings ascribed herein, unless the context otherwise requires:

(a) “ Authority ” means an industrial development authority created pursuant to this chapter or an economic development district created pursuant to Section 19-5-99 of any county in which an industrial development authority is created pursuant to this chapter.

(b) “ Costs of a megasite project ” means all costs of a megasite project including site preparation and other start-up costs, construction, fixtures and real and personal property required for the purposes of a megasite project, whether publicly or privately owned, including land and any rights or undivided interest therein, options, easements, franchises, fees, permits, approvals, licenses, and certificates and the securing of such permits, approvals, licenses, and certificates and all machinery and equipment; any cost associated with the closure, post-closure maintenance or corrective action on environmental matters, financing charges and interest prior to and during development and/or construction and during such additional period necessary for the development and operation of a megasite project; costs of engineering, surveying, environmental, geotechnical, architectural and legal services; costs of plans and specifications and all expenses necessary or incident to determining the feasibility or practicability of a megasite project; administrative expenses; and such other expenses as may be necessary or incidental to the financing authorized in this chapter. The costs of a megasite project may also include funds for the creation of a debt service reserve, a renewal and replacement reserve, bond insurance and credit enhancement, and such other reserves as may be authorized by any bond resolution or trust agreement or indenture pursuant to the provisions of which the issuance of any such bonds may be authorized by a county board of supervisors pursuant to subsection (3) below. Any obligation or expense incurred for any of the foregoing purposes shall be regarded as a part of the costs of a megasite project and may be paid or reimbursed as such out of the proceeds of any revenues obtained by the county including, without limitation, special assessments, general obligation bonds or notes issued pursuant to Section 19-9-1 et seq. or revenue bonds or notes.

(c) “ Facilities related to a megasite ” means and includes the acquisition, construction, restoration, repair, renovation, improvement, demolition or removal of any of the following, or any portion thereof, as they may pertain to a megasite and/or the development of one or more industrial projects thereon: (i) megasite preparation and improvements (including clearing, grubbing and grading activities); (ii) potable and nonpotable water supply systems that will serve the megasite or any portion thereof, whether or not such potable and nonpotable water supply systems are located on or outside of the megasite; (iii) sewage and waste disposal systems that will serve the megasite or any portion thereof, whether or not such sewage and waste disposal systems are located on or outside of the megasite; (iv) storm water drainage and other drainage systems that will serve the megasite or any portion thereof, whether or not such storm water drainage and other drainage systems are located on or outside of the megasite; (v) highways, streets and other roadways located upon the megasite or which are otherwise necessary to provide any access to and from the megasite or any portion thereof; (vi) fire suppression and prevention systems that will serve the megasite or any portion thereof, whether or not such fire suppression and prevention systems are located on or outside of the megasite; (vii) utility distribution systems, including, but not limited to, electricity, natural gas, telephone and other information and telecommunications facilities, whether by wire, fiber or wireless means, that will serve the megasite, whether or not such utility distribution systems are located on or outside of the megasite; provided that this subsection (vii) shall not empower the authority to acquire, construct, restore, repair, renovate, improve, demolish or remove any utility distribution system with respect to the megasite or any portion thereof which the authority is not otherwise already permitted to do under other applicable law; (viii) any other purposes authorized by or defined in Section 19-9-1 .

(d) “ Megasite project ” means the acquisition and development of a megasite by an authority created pursuant to this chapter for purposes of establishing a new industrial park or a single or multiple parcel industrial development zone to attract significant single- or multi-use industrial development projects, together with, as applicable, any industrial project undertaken on a megasite and/or any facilities related to a megasite.

(e) “ Megasite ” means any single tract or combination of contiguous tracts, excluding intervening roadways, railways, waterways or utility-ways, of at least eight hundred (800) acres acquired or otherwise under the control of an authority for the purposes of undertaking a megasite project on all or portion thereof; provided that, in the event a megasite initially contains at least eight hundred (800) acres, the use of the term megasite shall also include any adjoining real property tracts that are subsequently acquired or otherwise brought under the control of such authority.

(2) An authority is authorized and empowered to:

(a) Acquire by gift, purchase or otherwise, and to own, hold, maintain, control and develop real estate situated within the county and/or any interests therein for the purposes of undertaking a megasite project;

(b) Acquire by gift, purchase or otherwise, and to own, hold, repair, maintain, control and develop any facilities related to a megasite;

(c) Sell, lease, sublease, sub-sub lease, sell and leaseback, lease and sublease-back, trade, exchange or otherwise convey or dispose of a megasite project or any portions thereof or any interests therein to individuals, firms or business enterprises, public or private; in each of the above instances for such consideration, and with such safeguards as are determined by the authority will best promote and protect the public interest, convenience and necessity, and to enter into and execute purchase options, purchase agreements, deeds, leases, subleases, development agreements and other contracts, easements and other legal instruments necessary or convenient therefor. Such authority is further authorized and empowered to undertake any of the preceding authorized transactions, and enter into and execute any contract, agreement or instruments with respect thereto on the basis of negotiation with the authority without the necessity of any appraisal, advertisement for proposals, bids or offers, or of any other public procurement or sale requirements.

(3) The county board of supervisors of any county in which an authority is created pursuant to this chapter is authorized to (a) (i) incur bonded and floating indebtedness by issuing general obligation bonds, revenue bonds or special assessment bonds as authorized by any statute authorizing the issuance of such bonds, (ii) accept and borrow any loan from the federal government, its agencies and instrumentalities, and/or (iii) incur any other indebtedness in any manner for which it is authorized by law to incur debt, (b) may appropriate funds for the purposes and in the manner prescribed by law, and (c) may accept and utilize grants, donations or contributions from any source, whether public or private, to fund any costs of a megasite project. Any revenues derived from a project financed with indebtedness incurred pursuant to this section may be pledged, in whole or in part, by such county board of supervisors to secure payment of the bonded indebtedness incurred to finance a project.
Miss. Code Ann. § 57-40-3 — MS Code / Title 57 / Chapter 34 / Section 40-3
Miss. Code Ann. § 57-40-3
Status: in_force

There is established an energy infrastructure revolving loan program to be administered by the MDA for the purpose of assisting counties and municipalities in:

(a) Constructing, repairing or improving infrastructure related to a project, including, but not limited to, making a contribution in aid of construction to an energy-providing utility or cooperative for its constructing, repairing, improving and owning such infrastructure;

(b) Site preparation related to a project on property owned by a county or municipality; and

(c) Site preparation on property owned by the enterprise owning or operating a project.
Miss. Code Ann. § 57-61-3 — MS Code / Title 57 / Chapter 15 / 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. § 57-39-112 — MS Code / Title 57 / Chapter 35 / Section 39-112
Miss. Code Ann. § 57-39-112
Status: in_force

The division shall provide technical assistance to the Mississippi Department of Education so that the department can assist local school districts in developing a detailed energy management plan for that public school district. The purposes of the plan shall be to assist the public school district in reducing consumption of energy in its buildings and facilities and to maintain or reduce that level of energy consumption, subject to any allowances for building and facilities modernization, remodeling or upgrading for educational purposes, and for increased or decreased enrollment.
Miss. Code Ann. § 57-15-6 — MS Code / Title 57 / Chapter 4 / Section 15-6
Miss. Code Ann. § 57-15-6
Status: in_force

(1) In recognition of the Coastal Zone Management Act of 1972, as amended, the council is directed to prepare and implement a coastal program that establishes guidelines and procedures pursuant to the following goals:

(a) To provide for reasonable industrial expansion in the coastal area and to ensure the efficient utilization of waterfront industrial sites so that suitable sites are conserved for water dependent industry;

(b) To conserve the resources of the coastal area for this and succeeding generations in accordance with the public policies expressed in Sections 39-7-3 , 49-15-1 , 49-17-3 , 49-27-3 and 51-3-1, Mississippi Code of 1972;

(c) To consider the national interest involved in planning for and in the siting of facilities in the coastal area;

(d) To encourage the preservation of natural scenic qualities in the coastal area;

(e) To assist local governments in the provisions of public facilities and services in a manner consistent with the coastal program; and

(f) To ensure the effective, coordinated implementation of public policy in the coastal area of Mississippi comprised of Hancock, Harrison and Jackson Counties.

(2) It is the intent of the Legislature that the coastal program described in subsection (1) of this section should comprise a statement of consolidated state policy in the coastal area, incorporating all applicable constitutional provisions, laws and regulations of the State of Mississippi. Where the coastal program includes provisions that are otherwise under the jurisdiction of another state agency, the coastal program shall not conflict with such agency's jurisdiction.

(3) In addition to the powers and duties now conferred upon them by law, all state agencies shall carry out their responsibilities in the coastal area in compliance with the coastal program described in subsection (1) of this section unless otherwise prohibited by law. The coastal program shall include procedures by which conflicts between state agencies concerning their compliance with the coastal program may be resolved. Further, the council shall establish in the program procedures to review and coordinate any decisions affecting the coastal area so that all state agencies and other interested parties will have the opportunity to participate in such decisions.

(4) In cooperation with other agencies having responsibilities in the coastal area, the council shall seek to develop “one-stop permitting” to coordinate the processing and issuing of permits, licenses and other such instruments in the coastal area. It is the intent of the legislature that one-stop permitting shall expedite the decision making of all governmental entities having separate regulatory jurisdiction or authority over activities in the coastal area without impinging on the regulatory jurisdiction or authority of these governmental entities.

One-stop permitting shall be implemented by means of the agreements authorized in subsection (4) of Section 57-15-5 , and shall provide for the following:

(a) A single application form for all required permits or approvals from governmental entities in the coastal area; such application form shall contain sufficient information so that the necessary reviews of all affected governmental entities can be expeditiously carried out;

(b) Consolidated public hearings so that a single public hearing may serve to meet the requirements of the several public hearings as may now be provided by law for issuing a permit, license or other such instrument in the coastal area;

(c) The shortest practicable review period for applications, proper allowances being made for all interested parties to become informed and to make their opinions heard by the appropriate agencies; and

(d) Joint permitting procedures for state and federal agencies.

The one-stop permitting provided for in this subsection shall not alter the powers, duties and responsibilities of any governmental entity, its expressed purpose being to improve the procedural operations of these entities.

(5) After consultation with county port authorities, development commissions, and port and harbor commissions having jurisdiction in the coastal area, the council shall prepare as part of the coastal program a long-term plan for the development of suitable sites for water dependent industry. The council shall include in this plan provisions for the disposal of spoil material from dredging operations. In designating suitable sites for water dependent industry, the council shall consider the nature and extent of specific alterations that would serve a higher public interest pursuant to the development of these sites.

(6) Where necessary to implement the coastal program described in subsection (1) of this section, the council may acquire real or personal property by purchase, condemnation, lease or agreement as authorized from time to time by the legislature.
Miss. Code Ann. § 57-39-39 — MS Code / Title 57 / Chapter 30 / Section 39-39
Miss. Code Ann. § 57-39-39
Status: reserved

(1) There is hereby created in the State Treasury a fund to be known as the Energy Development Fund. Monies in such fund are reserved exclusively for:

(a) Promoting the development of Mississippi's energy resources.

(b) Developing projects under this section which will demonstrate a realistic promise of making a significant energy contribution to the State of Mississippi.

(c) Effectively utilizing the state's existing alternative and conventional energy resources to foster economic and social improvements in the state.

(2) The division will administer the fund. The division will establish policy and guidelines for use of the fund not later than one hundred twenty (120) days after July 1, 2013.

(3) The division will submit to the Governor on or before December 31 of each year a comprehensive report on the operation of the fund.
Miss. Code Ann. § 57-23-13 — MS Code / Title 57 / Chapter 3 / Section 23-13
Miss. Code Ann. § 57-23-13
Status: in_force

The institute personnel shall cooperate fully with the various departments of the state government, with the colleges and universities of the state, with the University Research Center, the Mississippi Department of Economic Development, and other research and development agencies in an effort to fully effectuate the purposes of this chapter. All state agencies and departments are hereby authorized and directed to give the institute and its personnel their full cooperation in every possible manner.
Miss. Code Ann. § 57-32-5 — MS Code / Title 57 / Chapter 23 / 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. § 57-11-17 — MS Code / Title 57 / Chapter 4 / Section 11-17
Miss. Code Ann. § 57-11-17
Status: in_force

The Mississippi Marketing Council is hereby authorized to acquire by donation or lease for and in the name of the State of Mississippi suitable and accessible facilities as may be necessary for the display, disposal and sale of those certain objects of crafts and arts set forth in Section 57-11-15 . The marketing council is hereby authorized and empowered to lease, or rent, to any individual any part of the property under its jurisdiction acquired for such purposes. The funds derived from any lease, or rental contract, entered into under authority of this section shall be deposited in the state treasury to the credit of the general fund of the state.
Miss. Code Ann. § 57-105-1 — MS Code / Title 57 / Chapter 71 / Section 105-1
Miss. Code Ann. § 57-105-1
Status: in_force

(1) As used in this section:

(a) “ Adjusted purchase price ” means the investment in the qualified community development entity for the qualified equity investment, substantially all of the proceeds of which are used to make qualified low-income community investments in Mississippi.

For the purposes of calculating the amount of qualified low-income community investments held by a qualified community development entity, an investment will be considered held by a qualified community development entity even if the investment has been sold or repaid; provided that the qualified community development entity reinvests an amount equal to the capital returned to or recovered by the qualified community development entity from the original investment, exclusive of any profits realized, in another qualified low-income community investment in Mississippi, including any federal Indian reservation located within the geographical boundary of Mississippi within twelve (12) months of the receipt of such capital. A qualified community development entity will not be required to reinvest capital returned from the qualified low-income community investments after the sixth anniversary of the issuance of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment, and the qualified low-income community investment will be considered held by the qualified community development entity through the seventh anniversary of the qualified equity investment's issuance.

(b) “ Applicable percentage ” means:

(i) For any equity investment issued prior to July 1, 2008, four percent (4%) for each of the second through seventh credit allowance dates for purposes of the taxes imposed by Section 27-7-5 and one and one-third percent (1- 1 / 3 %) for each of the second through seventh credit allowance dates for purposes of the taxes imposed by Sections 27-15-103 , 27-15-109 and 27-15-123 .

(ii) For any equity investment issued from and after July 1, 2008, eight percent (8%) for each of the first through third credit allowance dates for purposes of the taxes imposed by Section 27-7-5 or the taxes imposed by Sections 27-15-103 , 27-15-109 and 27-15-123 .

(c) “ Credit allowance date ” means, with respect to any qualified equity investment:

(i) The later of:

1. The date upon which the qualified equity investment is initially made; or

2. The date upon which the Mississippi Development Authority issues a certificate under subsection (4) of this section; and

(ii) 1. For equity investments issued prior to July 1, 2008, each of the subsequent six (6) anniversary dates of the date upon which the investment is initially made; or

2. For equity investments issued from and after July 1, 2008, each of the subsequent two (2) anniversary dates of the date determined as provided for in subparagraph (i) of this paragraph.

(d) “Qualified community development entity” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended, if the entity has entered into an Allocation Agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury with respect to credits authorized by Section 45D of the Internal Revenue Code of 1986 , as amended.

(e) “Qualified active low-income community business” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended.

(f) “Qualified equity investment” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended. The investment does not have to be designated as a qualified equity investment by the Community Development Financial Institutions Fund of the United States Treasury to be considered a qualified equity investment under this section but otherwise must meet the definition under the Internal Revenue Code. In addition to meeting the definition in Section 45D of the Internal Revenue Code such investment must also:

(i) Have been acquired after January 1, 2007, at its original issuance solely in exchange for cash; and

(ii) Have been allocated by the Mississippi Development Authority.

For the purposes of this section, such investment shall be deemed a qualified equity investment on the later of the date such qualified equity investment is made or the date on which the Mississippi Development Authority issues a certificate under subsection (4) of this section allocating credits based on such investment.

(g) “Qualified low-income community investment” shall have the meaning ascribed to such term in Section 45D of the Internal Revenue Code of 1986 , as amended; provided, however, that the maximum amount of qualified low-income community investments issued for a single qualified active low-income community business, on an aggregate basis with all of its affiliates, that may be included for purposes of allocating any credits under this section shall not exceed Ten Million Dollars ($10,000,000.00), in the aggregate, whether issued by one (1) or several qualified community development entities.

(2) A taxpayer that holds a qualified equity investment on the credit allowance date shall be entitled to a credit applicable against the taxes imposed by Sections 27-7-5 , 27-15-103 , 27-15-109 and 27-15-123 during the taxable year that includes the credit allowance date. The amount of the credit shall be equal to the applicable percentage of the adjusted purchase price paid to the qualified community development entity for the qualified equity investment. The amount of the credit that may be utilized in any one (1) tax year shall be limited to an amount not greater than the total tax liability of the taxpayer for the taxes imposed by the above-referenced sections. The credit shall not be refundable or transferable. Any unused portion of the credit may be carried forward for seven (7) taxable years beyond the credit allowance date on which the credit was earned. The maximum aggregate amount of qualified equity investments that may be allocated by the Mississippi Development Authority may not exceed an amount that would result in taxpayers claiming in any one (1) state fiscal year credits in excess of Fifteen Million Dollars ($15,000,000.00), exclusive of credits that might be carried forward from previous taxable years; however, a maximum of one-third ( 1 / 3 ) of this amount may be allocated as credits for taxes imposed by Sections 27-15-103 , 27-15-109 and 27-15-123 . Any taxpayer claiming a credit under this section against the taxes imposed by Sections 27-7-5 , 27-15-103 , 27-15-109 and 27-15-123 shall not be required to pay any additional tax under Section 27-15-123 as a result of claiming such credit. The Mississippi Development Authority shall allocate credits within this limit as provided for in subsection (4) of this section.

(3) Tax credits authorized by this section that are earned by a partnership, limited liability company, S corporation or other similar pass-through entity, shall be allocated among all partners, members or shareholders, respectively, either in proportion to their ownership interest in such entity or as the partners, members or shareholders mutually agree as provided in an executed document. Such allocation shall be made each taxable year of such pass-through entity which contains a credit allowance date.

(4) The qualified community development entity shall apply for credits with the Mississippi Development Authority on forms prescribed by the Mississippi Development Authority. The qualified community development entity must pay an application fee of One Thousand Dollars ($1,000.00) to the Mississippi Development Authority at the time the application is submitted. In the application the qualified community development entity shall certify to the Mississippi Development Authority the dollar amount of the qualified equity investments made or to be made in this state, including in any federal Indian reservation located within the state's geographical boundary, during the first twelve-month period following the initial credit allowance date. The Mississippi Development Authority shall allocate credits based on the dollar amount of qualified equity investments as certified in the application. Once the Mississippi Development Authority has allocated credits to a qualified community development entity, if the corresponding qualified equity investment has not been issued as of the date of such allocation, then the corresponding qualified equity investment must be issued not later than one hundred twenty (120) days from the date of such allocation. If the qualified equity investment is not issued within such time period, the allocation shall be cancelled and returned to the Mississippi Development Authority for reallocation. Upon final documentation of the qualified low-income community investments, if the actual dollar amount of the investments is lower than the amount estimated, the Mississippi Development Authority shall adjust the tax credit allowed under this section. The Department of Revenue may recapture all of the credit allowed under this section if:

(a) Any amount of federal tax credits available with respect to a qualified equity investment that is eligible for a tax credit under this section is recaptured under Section 45D of the Internal Revenue Code of 1986 , as amended; or

(b) The qualified community development entity redeems or makes any principal repayment with respect to a qualified equity investment prior to the seventh anniversary of the issuance of the qualified equity investment; or

(c) The qualified community development entity fails to maintain at least eighty-five percent (85%) of the proceeds of the qualified equity investment in qualified low-income community investments in Mississippi at any time prior to the seventh anniversary of the issuance of the qualified equity investment.

Any credits that are subject to recapture under this subsection shall be recaptured from the taxpayer that actually claimed the credit.

The Mississippi Development Authority shall not allocate any credits under this section after July 1, 2024.

(5) Each qualified community development entity that receives qualified equity investments to make qualified low-income community investments in Mississippi must annually report to the Mississippi Development Authority the North American Industry Classification System Code, the county, the dollars invested, the number of jobs assisted and the number of jobs assisted with wages over one hundred percent (100%) of the federal poverty level for a family of four (4) of each qualified low-income community investment.

(6) The Mississippi Development Authority shall file an annual report on all qualified low-income community investments with the Governor, the Clerk of the House of Representatives, the Secretary of the Senate and the Secretary of State describing the North American Industry Classification System Code, the county, the dollars invested, the number of jobs assisted and the number of jobs assisted with wages over one hundred percent (100%) of the federal poverty level for a family of four (4) of each qualified low-income community investment. The annual report will be posted on the Mississippi Development Authority's Internet website.

(7)(a) The purpose of this subsection is to authorize the creation and establishment of public benefit corporations for financing arrangements regarding public property and facilities.

(b) As used in this subsection:

(i) “ New Markets Tax Credit transaction ” means any financing transaction which utilizes either this section or Section 45D of the Internal Revenue Code of 1986 , as amended.

(ii) “ Public benefit corporation ” means a nonprofit corporation formed or designated by a public entity to carry out the purposes of this subsection.

(iii) “ Public entity or public entities ” includes utility districts, regional solid waste authorities, regional utility authorities, community hospitals, regional airport authorities, municipal airport authorities, community and junior colleges, educational building corporations established by or on behalf of the state institutions of higher learning, school districts, planning and development districts, county economic development districts, urban renewal agencies, any other regional or local economic development authority, agency or governmental entity, and any other regional or local industrial development authority, agency or governmental entity.

(iv) “ Public property or facilities ” means any property or facilities owned or leased by a public entity or public benefit corporation.

(c) Notwithstanding any other provision of law to the contrary, public entities are authorized pursuant to this subsection to create one or more public benefit corporations or designate an existing corporation as a public benefit corporation for the purpose of entering into financing agreements and engaging in New Markets Tax Credit transactions, which shall include, without limitation, arrangements to plan, acquire, renovate, construct, lease, sublease, manage, operate and/or improve new or existing public property or facilities located within the boundaries or service area of the public entity. Any financing arrangement authorized under this subsection shall further any purpose of the public entity and may include a term of up to fifty (50) years.

(d) Notwithstanding any other provision of law to the contrary and in order to facilitate the acquisition, renovation, construction, leasing, subleasing, management, operating and/or improvement of new or existing public property or facilities to further any purpose of a public entity, public entities are authorized to enter into financing arrangements in order to transfer public property or facilities to and/or from public benefit corporations, including, without limitation, sales, sale-leasebacks, leases and lease-leasebacks, provided such transfer is related to any New Markets Tax Credit transaction furthering any purpose of the public entity. Any such transfer under this paragraph (d) and the public property or facilities transferred in connection therewith shall be exempted from any limitation or requirements with respect to leasing, acquiring, and/or constructing public property or facilities.

(e) With respect to a New Markets Tax Credit transaction, public entities and public benefit corporations are authorized to enter into financing arrangements with any governmental, nonprofit or for-profit entity in order to leverage funds not otherwise available to public entities for the acquisition, construction and/or renovation of properties transferred to such public benefit corporations. The use of any funds loaned by or contributed by a public benefit corporation or borrowed by or otherwise made available to a public benefit corporation in such financing arrangement shall be dedicated solely to (i) the development of new properties or facilities and/or the renovation of existing properties or facilities or operation of properties or facilities, and/or (ii) the payment of costs and expenditures related to any such financing arrangements, including, but not limited to, funding any reserves required in connection therewith, the repayment of any indebtedness incurred in connection therewith, and the payment of fees and expenses incurred in connection with the closing, administration, accounting and/or compliance with respect to the New Markets Tax Credit transaction.

(f) A public benefit corporation created pursuant to this subsection shall not be a political subdivision of the state but shall be a nonprofit corporation organized and governed under the provisions of the laws of this state and shall be a special purpose corporation established to facilitate New Markets Tax Credit transactions consistent with the requirements of this section.

(g) Neither this subsection nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the public entity or public benefit corporation might otherwise have under any laws of this state, and this subsection is cumulative to any such powers. This subsection does and shall be construed to provide a complete additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws.

(8) The Mississippi Development Authority shall promulgate rules and regulations to implement the provisions of this section.
Miss. Code Ann. § 57-79-11 — MS Code / Title 57 / Chapter 71 / Section 79-11
Miss. Code Ann. § 57-79-11
Status: in_force

The Mississippi Department of Economic and Community Development is authorized to contract with other public agencies, as well as private not-for-profit corporations, to further the purposes of this chapter.
Miss. Code Ann. § 57-123-5 — MS Code / Title 57 / Chapter 79 / Section 123-5
Miss. Code Ann. § 57-123-5
Status: in_force

(1) There is hereby created in the State Treasury a special fund to be designated as the “Mississippi Nonprofit Museums Recovery Fund,” which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any 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 by the Department of Finance and Administration, upon appropriation by the Legislature, for the purposes provided in this section. Monies in the fund shall be disbursed in compliance with the guidelines, guidance, rules, regulations and/or other criteria, as may be amended from time to time, by the United States Department of the Treasury regarding the use of monies from the Coronavirus Relief Fund established by the Coronavirus Aid, Relief, and Economic Security Act. If on December 1, 2020, there are unexpended monies in the fund, those monies shall be transferred to the Unemployment Compensation Fund. Monies in the fund shall be disbursed by the Department of Finance and Administration to assist nonprofit museums in paying costs associated with cleaning, disinfection, social distancing measures and/or other health and safety measures necessary in order to reopen to the public due to the Coronavirus 2019. The Department of Finance and Administration shall take into consideration the attendance, annual revenue and operating expenses when allocating such monies under this section.

(2) The Department of Finance and Administration shall have all powers necessary for the implementation of this section.
Miss. Code Ann. § 57-44-1 — MS Code / Title 57 / Chapter 10 / Section 44-1
Miss. Code Ann. § 57-44-1
Status: in_force

The implementation of freight rail service projects within the State of Mississippi develops and promotes, for the public good, safety and general welfare, trade, commerce, industry, and employment opportunities, and promotes the general welfare of the state by creating a climate favorable to the location of new industry, trade, and commerce and the development of existing industry, trade and commerce within the State of Mississippi. Implementation of freight rail service projects within this state will develop and promote, for the public good, safety and general welfare, trade, commerce, industry, and employment opportunities, and will promote the general welfare of the state. It is therefore in the public interest and is vital to the public welfare of the people of Mississippi, and it is declared to be the public purpose of this chapter to so develop freight rail service projects within this state.
Miss. Code Ann. § 57-31-19 — MS Code / Title 57 / Chapter 5 / Section 31-19
Miss. Code Ann. § 57-31-19
Status: in_force

Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt of such county or a pledge of the faith and credit of such county, but such bonds shall be payable solely from the special fund provided therefor as hereinafter set forth, and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the county to levy or pledge any form of taxation whatever therefor, and all such bonds shall contain recitals on their face substantially covering the foregoing provisions of this section.
Miss. Code Ann. § 57-89-51 — MS Code / Title 57 / Chapter 64 / 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. § 57-10-115 — MS Code / Title 57 / Chapter 1 / Section 10-115
Miss. Code Ann. § 57-10-115
Status: in_force

(1) On every loan, the borrower shall pay a nonrefundable guaranty fee of two percent (2%) of the guaranteed portion, to be paid at the time of disbursement of loan proceeds. Upon collection, the committee shall remit all such guaranty fees to a special fund for such fees created by the State Treasurer.

(2) No loan guaranty made by the committee shall exceed seventy-five percent (75%) of the principal of the loan.

(3) The amount of all outstanding loan guaranties shall not exceed five (5) times the combined total amount in the Small Businessman's Loan Fund, plus the guaranty fee fund and accrued interest on both funds, provided the liability of the two (2) funds shall not exceed Fifteen Million Seven Hundred Fifty Thousand Dollars ($ 15,750,000.00).

(4) No guaranty made under the provisions of this article shall be an amount exceeding Three Hundred Seventy-five Thousand Dollars ($ 375,000.00) principal, and the term thereof shall not exceed twenty (20) years.

(5) More than one (1) loan may be outstanding to any one (1) borrower at any one (1) time; provided, however, that the aggregate amount of all loan guaranties to any one (1) borrower shall not exceed Three Hundred Seventy-five Thousand Dollars ($ 375,000.00).

(6) The total amount of a loan secured by any real and/or personal property, including any previous indebtedness incurred against real and/or personal property offered as security for such loan, shall not exceed ninety percent (90%) of the market value as determined by an appraisal made by the lender. In determining the amount of indebtedness to be incurred against any real or personal property securing such a loan, the lender may consider the enhanced value of the real property and any other additional capital assets accruing to the borrower through loans provided under this article.
Miss. Code Ann. § 57-95-1 — MS Code / Title 57 / Chapter 69 / Section 95-1
Miss. Code Ann. § 57-95-1
Status: in_force

(1) As used in this section:

(a) “ At-risk industry ” means any enterprise that has been operating in this state for not less than three (3) consecutive years that has lost jobs or is at risk to lose jobs because such jobs have been outsourced.

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

(c) “ Outsource ” means to send out work or jobs of a certain provider or manufacturer of the State of Mississippi to an overseas provider or manufacturer or a provider or manufacturer located outside the boundaries of the United States or any territory of the United States.

(2)(a) There is established the Mississippi Job Protection Act to be administered by the MDA for the purpose of providing grants and loans to:

(i) At-risk industries to be used for job retention and to improve productivity and competitiveness; and

(ii) Counties and incorporated municipalities to provide assistance to at-risk industries to be used for job retention and to improve productivity and competitiveness.

(b)(i) An at-risk industry that accepts a grant or loan under this program shall not reduce employment by more than twenty percent (20%).

(ii) An at-risk industry that accepts assistance from a county or incorporated municipality through a loan or grant made under this section shall not reduce employment by more than twenty percent (20%).

(c) An at-risk industry desiring a grant or loan under this section must submit an application to the MDA. The application shall include:

(i) A description of the purpose for which the grant or loan is requested;

(ii) The amount of the grant or loan requested;

(iii) The estimated total cost of the project;

(iv) A two-year business plan for the project;

(v) Financial statements or tax returns for the at-risk industry for the two (2) years immediately prior to the application;

(vi) Credit reports on all persons or entities with a twenty percent (20%) or greater interest in the at-risk industry; and

(vii) Any other information required by the MDA.

(d) A county or incorporated municipality desiring a grant or loan under this section must submit an application to the MDA. The application shall include:

(i) A description of the purpose for which the loan is requested;

(ii) The amount of the grant or loan requested;

(iii) The estimated total cost of the project;

(iv) A statement showing the sources of funding for the project;

(v) A two-year business plan for the project;

(vi) Financial statements or tax returns for the at-risk industry for the two (2) years immediately prior to the application;

(vii) Credit reports on all persons or entities with a twenty percent (20%) or greater interest in the at-risk industry;

(viii) Any commitment by the at-risk industry to pay rental on, or to make loan repayments related to, the assistance; and

(ix) Any other information required by the MDA.

(e) The MDA shall require that binding commitments be entered into requiring that:

(i) The minimum requirements of this section and such other requirements as the MDA considers proper shall be met; and

(ii) If such requirements are not met, all or a portion of the funds provided by this section as determined by the MDA shall be repaid.

(f) The amount of a grant or loan under this section shall not exceed fifty percent (50%) of the total cost of the project.

(g) 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.

(3) Grants under this section shall not exceed Two Hundred Thousand Dollars ($200,000.00).

(4)(a) There is created in the State Treasury a special fund to be designated as the “Mississippi Job Protection Act 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 by the MDA for the purposes described in this section.

(b) Monies in the fund which are derived from the proceeds of general obligation bonds 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 under Sections 40 through 55 of Chapter 1, Laws of Third Extraordinary Session of 2005. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements.

(c)(i) There is hereby created the Mississippi Job Protection Act Bond Sinking Fund from which the principal and interest on bonds whose proceeds are deposited into the Mississippi Job Protection Act Fund and utilized to provide loans authorized under this section, shall be repaid. Unexpended amounts remaining in the bond sinking fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the bond sinking fund shall be deposited into the bond sinking fund. At any time when the funds required to pay the principal and interest on bonds whose proceeds are deposited into the Mississippi Job Protection Act Fund and are utilized to provide loans under this section are more than the amount available in the bond sinking fund, the Legislature shall appropriate the balance of the funds necessary to pay the principal and interest on such bonds.

(ii) Money repaid on loans authorized under this section that are derived from the proceeds of bonds deposited into the Mississippi Job Protection Act Fund shall be deposited into the Mississippi Job Protection Act Bond Sinking Fund.

(5)(a) A county that receives a loan under this section shall pledge for repayment of the loan any part of the homestead exemption annual tax loss reimbursement to which it may be entitled under Section 27-33-77 . An incorporated municipality that receives a loan under this section shall pledge for repayment of the loan any part of the sales tax revenue distribution to which it may be entitled under Section 27-65-75 . Each loan agreement shall provide for monthly payments, semiannual payments or other periodic payments, the annual total of which shall not exceed the annual total for any other year of the loan by more than fifteen percent (15%). The loan agreement shall provide for the repayment of all funds received within not more than twenty (20) years from the date of project completion.

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

(c) Evidences of indebtedness which are issued pursuant to this section shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties.
Miss. Code Ann. § 57-10-239 — MS Code / Title 57 / Chapter 1 / Section 10-239
Miss. Code Ann. § 57-10-239
Status: in_force

Any pledge made by the company shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged and thereafter received by the company shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the company, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.
Miss. Code Ann. § 57-79-5 — MS Code / Title 57 / Chapter 67 / Section 79-5
Miss. Code Ann. § 57-79-5
Status: in_force

For the purposes of this chapter, the following terms shall have the meanings ascribed herein unless the context shall otherwise require:

(a) “Small town” shall mean any city, town or village with a population of five thousand (5,000) or fewer persons according to the most recent federal decennial census.

(b) “Mississippi Small Town Development Fund” shall mean that fund administered by the Mississippi Department of Economic and Community Development to assist small towns for purposes authorized under this chapter.

(c) “Grant application development expenses” shall mean any preliminary study, survey, investigation, or report including engineering analysis or cost estimates, or other professional services required to submit a grant or loan application to any state or federal agency or department.

(d) “Grant application matching requirement” means any state or federal grant or loan requirement for the contribution of cash or other in-kind services as a part of any such grant or loan application.

(e) “Mississippi Small Town Technical Assistance Network” shall be that program administered by the Mississippi Department of Economic and Community Development organized to provide both direct, individual technical assistance to small towns, and to maximize the efforts of other state and federal departments and agencies, as well as private not-for-profit organizations.
Miss. Code Ann. § 57-41-17 — MS Code / Title 57 / Chapter 35 / Section 41-17
Miss. Code Ann. § 57-41-17
Status: in_force

The Mississippi Board of Economic Development is authorized and empowered to adopt and put into effect all reasonable rules and regulations that it may deem necessary to carry out the provisions of this chapter not inconsistent therewith, including, but not limited to, eligible costs of a project and the financing thereof.
Miss. Code Ann. § 57-91-3 — MS Code / Title 57 / Chapter 69 / Section 91-3
Miss. Code Ann. § 57-91-3
Status: in_force

The Legislature finds and determines that there exists in this state a continuing need for programs to assist certain counties and municipalities in encouraging economic development, the consequent job creation and retention, additional private investment and increased local and state revenue which together ensures the further development of a balanced economy. The Legislature further finds that this need is particularly great in counties and municipalities where there are located certain environmentally contaminated sites that are not currently conducive to such economic development. To achieve the combined purposes of encouraging economic development on and around environmentally contaminated sites, it is necessary to assist and encourage such economic development by providing temporary tax incentives within certain counties and municipalities to certain business enterprises.

Further, the Legislature finds and determines that the authority granted under this chapter and the purposes to be accomplished hereby are proper governmental and public purposes and that the resulting economic benefits to the state are of paramount importance, mandating that the provisions of this chapter be liberally construed and applied in order to advance the public purposes.
Miss. Code Ann. § 57-10-17 — MS Code / Title 57 / Chapter 10 / Section 10-17
Miss. Code Ann. § 57-10-17
Status: in_force

The board of directors of the corporation is hereby authorized, in its discretion, based on sound business principles, to:

(a) Receive applications for and make direct term loans to small businesses, including any person, firm, corporation, joint stock company, partnership, association or trust located within the state unable to obtain sufficient funds for the successful operation of such businesses from conventional commercial sources or other governmental agencies or in the event the financial needs of such businesses exceed the legal loan limits of local banks or other financial institutions or in the event the degree of risk involved in extending loans to such businesses exceed local standards;

(b) Make direct equity investments and/or seed money loans to local economic development corporations;

(c) Seek the participation of private banks or financial institutions, either within or without the state, in the term loans extended by the corporation;

(d) Sell its own commercial paper and other evidences of indebtedness to obtain funds for the making of term loans to creditworthy businesses;

(e) Provide a loan guaranty program for conventional loans extended to qualified small businesses in the State of Mississippi;

(f) Sell its debenture bonds to banks and other financial institutions;

(g) Apply for and receive funds in any amount from any private source or federal governmental entity, or the Small Businessman's Loan Fund or Guaranty Fee Fund as authorized by Sections 57-10-101 through 57-10-137 , whether by way of grant, donation or loan;

(h) Make contracts, including contracts for services, and incur liabilities for any of the purposes authorized herein;

(i) Borrow money for any of the purposes authorized herein; incur debt, including the power to issue therefor its bonds, debentures, notes or other evidences of indebtedness, whether secured or unsecured; and secure the same by mortgage, pledge, deed of trust or other lien on its property, rights and privileges of every kind and nature, or any part thereof, or interest therein;

(j) Purchase, receive, hold, lease or acquire by foreclosure, and sell, convey, transfer or lease real and personal property, together with such rights and privileges as may be incidental and appurtenant thereto and the use thereof, including, but not restricted to, any real or personal property acquired by the corporation from time to time in the satisfaction of debts or enforcement of obligations;

(k) Make all expenditures and incur any obligations reasonably required in the exercise of sound business principles to secure possession of, preserve, maintain, insure and, if necessary, improve real and personal property acquired in the liquidation of investments in order to realize the maximum return for the corporation on any sale or disposition thereof;

(l) Acquire, subscribe for, own, hold, sell, assign, transfer, mortgage or pledge the stock, shares, bonds, debentures, notes or other securities and evidences of interest in or indebtedness of any person, firm, corporation, joint stock company, partnership, association or trust, and, while the owner or holder thereof, exercise all the rights, powers and privileges of ownership, including the right to vote thereon;

(m) Mortgage, pledge or otherwise encumber any property right or thing of value acquired pursuant to the powers contained in paragraph (j), (k) or (l) as security for the payment of any part of the purchase price thereof;

(n) Cooperate with and assist and otherwise encourage agencies, organizations, local or regional, private or public, in the various communities of the state in the promotion, assistance and development of the business prosperity and economic welfare of such communities or of this state or of any part thereof;

(o) Do all acts and things necessary and proper to create, form, participate in or fund a State SBA 503 program as authorized under Title V, Section 503 of the Small Business Investment Act of 1958, as amended, Section 697, Title XV, United States Code ;

(p) Do all acts and things necessary and proper to carry out the powers expressly granted in this article, including, but not limited to, employment of administrative and clerical staff, and such other employees as may be necessary in its judgment and to fix their compensation, and to perform its powers and functions through its officers, agents and employees;

(q) Do all acts and things necessary and proper for the issuance of bonds for solid waste facilities;

(r) Do all acts and things necessary to operate the Mississippi Development Bank pursuant to Section 31-25-1 et seq. ;

(s) Maintain an office in the name of the corporation at such place or places within this state as it may designate without the approval of any other state agency or department.
Miss. Code Ann. § 57-115-5 — MS Code / Title 57 / Chapter 67 / Section 115-5
Miss. Code Ann. § 57-115-5
Status: in_force

(1)(a) The MDA must provide a standardized format for applying for the Mississippi small business investment credit authorized under this chapter, and for certification as a Mississippi small business investment company.

(b) An applicant for certification as a primary Mississippi small business investment company must:

(i) File an application with the MDA which shall include a business plan detailing:

1. The approximate percentage of designated capital the applicant will invest in qualified businesses by the second, fourth and sixth anniversaries of its allocation date;

2. The industry segments listed by the North American Industrial Classification System code and percentage of designated capital in which the applicant will invest; and

3. The number of jobs that will be created or retained as a result of the applicant's investments once all designated capital has been invested. A job shall be considered created or retained if the job pays one hundred twenty-five percent (125%) of the state average annual wage and is maintained for at least three (3) years. The application shall project, at a minimum, that one (1) job shall be created or maintained for each One Hundred Fifty Thousand Dollars ($150,000.00) in credits awarded to the participating investors of the Mississippi small business investment company;

(ii) Pay a nonrefundable application fee of Seven Thousand Five Hundred Dollars ($7,500.00) at the time of filing the application;

(iii) Submit as part of its application an audited balance sheet that contains an unqualified opinion of an independent certified public accountant issued not more than thirty-five (35) days before the application date that states that the applicant has an equity capitalization of Five Hundred Thousand Dollars ($500,000.00) or more in the form of unencumbered cash, marketable securities or other liquid assets; and

(iv) Have at least two (2) principals or persons, at least one (1) of which is primarily located in Mississippi, employed or engaged to manage the funds who each have a minimum of five (5) years of money management experience in the venture capital or private equity or lending industry.

(c) An applicant for certification as a secondary Mississippi small business investment company must:

(i) File an application with the MDA which shall include a business plan detailing:

1. The approximate percentage of designated capital the applicant will invest in qualified businesses by the second, fourth and sixth anniversaries of its allocation date;

2. The industry segments listed by the North American Industrial Classification System code and percentage of designated capital in which the applicant will invest; and

3. The number of jobs that will be crested or retained as a result of the applicant's investments once all designated capital has been invested. A job shall be considered created or retained if the job pays one hundred twenty-five percent (125%) of the state average annual wage and is maintained for at least three (3) years. The application shall project, at a minimum, that one (1) job shall be created or maintained for each One Hundred Fifty Thousand Dollars ($150,000.00) in credits awarded to the participating investors of the Mississippi small business investment company;

(ii) Pay a nonrefundable application fee of Three Thousand Seven Hundred Fifty Dollars ($3,750.00) at the time of filing the application;

(iii) Submit as part of its application an audited balance sheet that contains an unqualified opinion of an independent certified public accountant issued not more than thirty-five (35) days before the application date that states that the applicant has an equity capitalization of One Hundred Fifty Thousand Dollars ($150,000.00) or more in the form of unencumbered cash, marketable securities or other liquid assets;

(iv) Demonstrate that fifty percent (50%) of all secondary investment company investments have been in Mississippi, and all of the applicant's employees have lived in Mississippi for at least two (2) years prior to the application being filed, and that those who are employed or engaged to manage the funds have a minimum of three (3) years of money management experience in the venture capital or private equity or lending industry; and

(v) Submit as part of its application a signed and notarized partnership agreement letter with a certified primary Mississippi small business investment company.

(d)(i) Any participating partner or individual in a certified secondary small business investment company that successfully participated in the initial authorization and allocation of credits in 2012, and which is a partner in a submitted application for credits allocated in subsection (4)(b) of this section, while partnered with the same primary small business investment company from the previous 2012 allocation, shall have the requirements in paragraph (c)(iii) and (iv) of this subsection waived as having been completed through the previous allocation.

(ii) Any participating partner or individual in a certified secondary small business investment company that successfully participated in the authorization and allocation of credits in 2018, and which is a partner in a submitted application for credits allocated in subsection (4)(c) of this section, while partnered with the same primary small business investment company from the previous 2018 allocation, shall have the requirements in paragraph (c)(iii) and (iv) of this subsection waived as having been completed through the previous allocation.

(e) The MDA may certify partnerships, corporations, trusts, or limited liability companies, organized on a for-profit basis, which submit an application to be designated as a Mississippi small business investment company if the applicant is located, headquartered, and licensed or registered to conduct business in Mississippi, has as its primary business activity the investment of cash in qualified businesses, and meets all of the criteria of this section.

(f) The MDA must:

(i) Review the organizational documents of each applicant for certification and the business history of each applicant;

(ii) Determine whether the applicant has satisfied all of the requirements of this section; and

(iii) Determine whether the officers and the board of directors, general partners, trustees, managers or members are trustworthy and are thoroughly acquainted with the requirements of this chapter.

(g) Within forty-five (45) days after the receipt of an application, the MDA may issue the certification or refuse the certification and may communicate in detail to the applicant the grounds for refusal, including suggestions for the removal of the grounds.

(h) The MDA must begin accepting applications to become a Mississippi small business investment company not later than August 1, 2012, for credits allocated in subsection (4)(a) of this section, not later than August 1, 2018, for credits allocated in subsection (4)(b) of this section, and not later than August 1, 2023, for credits allocated in subsection (4)(c) of this section.

(i) Certification by the MDA and operation of a primary Mississippi small business investment company is not subject to completion of any relationship or agreement with a secondary Mississippi small business investment company, and it is not the intent of this chapter to compel any such agreement.

(2)(a) An insurance company or affiliate of an insurance company must not, directly or indirectly:

(i) Beneficially own, whether through rights, options, convertible interest, or otherwise, fifteen percent (15%) or more of the voting securities or other voting ownership interest of a Mississippi small business investment company;

(ii) Manage a Mississippi small business investment company; or

(iii) Control the direction of investments for a Mississippi small business investment company.

(b) A Mississippi small business investment company may obtain one or more guaranties, indemnities, bonds, insurance policies, or other payment undertakings for the benefit of its participating investors from any entity, except that in no case can more than one (1) participating investor of a Mississippi small business investment company on an aggregate basis with all affiliates of the participating investor, be entitled to provide guaranties, indemnities, bonds, insurance policies, or other payment undertakings in favor of the participating investors of a Mississippi small business investment company and its affiliates in this state.

(c) This subsection (2) does not preclude a participating investor, insurance company or other party from exercising its legal rights and remedies, including, without limitation, interim management of a Mississippi small business investment company, in the event that a Mississippi small business investment company is in default of its statutory obligations or its contractual obligations to a participating investor, insurance company, or other party, or from monitoring a Mississippi small business investment company to ensure its compliance with this chapter or disallowing any investments that have not been approved by the MDA.

(d) The MDA may contract with an independent third party to review, investigate, and certify that the applications comply with the provisions of this chapter.

(3)(a) At the time of its investment of designated capital a participating investor shall earn a vested credit against the participating investor's state premium tax liability in an amount equal to one hundred percent (100%) of the participating investor's investment of designated capital in a Mississippi small business investment company, subject to the limits imposed by this section.

(b) From and after January 1, 2015, a participating investor may claim the credit allocated in subsection (4)(a) of this section as follows: For each taxable year from 2015 through 2019, an amount equal to twenty percent (20%) of the participating investor's investment of designated capital.

(c) From and after January 1, 2021, a participating investor may claim the credit allocated in subsection (4)(b) of this section as follows:

(i) For each taxable year from 2021 through 2025, an amount equal to sixteen and sixty-six one-hundredths percent (16.66%) of the participating investor's investment of designated capital; and

(ii) For the 2026 taxable year, an amount equal to sixteen and seven-tenths percent (16.7%) of the participating investor's investment of designated capital.

(d) From and after January 1, 2027, a participating investor may claim the credit allocated in subsection (4)(c) of this section as follows:

(i) For each taxable year from 2027 through 2031, an amount equal to sixteen and sixty-six one-hundredths percent (16.66%) of the participating investor's investment of designated capital; and

(ii) For the 2032 taxable year, an amount equal to sixteen and seven-tenths percent (16.7%) of the participating investor's investment of designated capital.

(e) The credit for any taxable year cannot exceed the state premium tax liability of the participating investor for the taxable year. If the amount of the credit exceeds the state premium tax liability of the participating investor for the taxable year, the excess is an investment tax credit carryover for five (5) years from the date the credit is first able to be utilized in accordance with paragraph (a) of this subsection (3).

(f) Notwithstanding any provision of this chapter to the contrary, the granting of any credits against the insurance premium tax shall not affect the insurance premium tax receipts distributed pursuant to Sections 83-1-37 , 83-1-39 , 83-34-39 , 45-11-5 and 21-29-233 , which shall take priority over all other distributions of premium tax receipts and shall be calculated based upon gross insurance premium tax liability before the application of the tax credits.

(g) A participating investor claiming a credit under this chapter is not required to pay any additional retaliatory tax under Section 27-15-123 levied as a result of claiming the credit.

(h) A participating investor is not required to reduce the amount of tax pursuant to the state premium tax liability included by the participating investor in connection with ratemaking for any insurance contract written in this state because of a reduction in the participating investor's tax liability based on the tax credit allowed under this chapter.

(i) If the taxes paid by a participating investor with respect to its state premium tax liability constitute a credit against any other tax that is imposed by this state, the participating investor's credit against the other tax shall not be reduced by virtue of the reduction in the participating investor's tax liability based on the tax credit allowed under this chapter.

(j) Final decertification of a Mississippi small business investment company under this chapter prior to such Mississippi small business investment company meeting the requirements of Section 57-115-7(1)(a)(ii) , shall result in the disallowance and the recapture of all of the credits allocated to its participating investors under this chapter. Once a Mississippi small business investment company has satisfied the requirements of Section 57-115-7(1)(a)(ii) , any subsequent decertification shall not cause the disallowance or recapture of any credits allocated to its participating investors under this chapter.

(k) The credits allowed under this chapter are not transferable; however, a participating investor may transfer credits to an affiliated insurance company provided it gives prior written notice of such transfer to the MDA and the Department of Revenue.

(4)(a)(i) Through January 1, 2018, the aggregate amount of investment tax credits that may be allocated to all participating investors of Mississippi small business investment companies under this section shall not exceed Fifty Million Dollars ($50,000,000.00), and no Mississippi small business investment company, on an aggregate basis with its affiliates, may file credit allocation claims that exceed Fifty Million Dollars ($50,000,000.00).

(ii) The Fifty Million Dollars ($50,000,000.00) aggregate amount of investment tax credits allocated in this paragraph (a) shall be divided into a primary tax credit pool which may be applied for by certified primary Mississippi small business investment companies and a secondary tax credit pool which may be applied for by certified secondary Mississippi small business investment companies. The secondary tax credit pool shall be Three Million Five Hundred Thousand Dollars ($3,500,000.00) of the total Fifty Million Dollars ($50,000,000.00) aggregate amount of investment tax credits. Secondary Mississippi small business investment companies may not apply for more than One Million Seven Hundred Fifty Thousand Dollars ($1,750,000.00) worth of credits on a single application. A certified secondary Mississippi small business investment company may apply for additional tax credit allocation from the secondary tax credit pool, if the credits are available, after fifty percent (50%) of its previously allocated credits are used in qualified investments.

(iii) If there are any tax credits remaining available for allocation in the secondary tax credit pool on August 1, 2013, those available tax credits shall revert to the primary tax credit pool and be made available to primary Mississippi small business investment companies according to rules and regulations promulgated by the MDA. Prior to August 1, 2013, primary Mississippi small business investment companies, including any wholly owned subsidiary company, shall be prohibited from making application to the MDA to be additionally certified as a secondary Mississippi small business investment company for purposes of the tax credits allocated in this paragraph (a) and prohibited from applying for any tax credit allocation from the secondary tax credit pool. A certified primary Mississippi small business investment company may have ownership equity in a certified secondary Mississippi small business investment company, but the equity interest owned by the certified primary Mississippi small business investment company shall not exceed forty percent (40%).

(b)(i) From and after July 1, 2018, through January 1, 2023, an additional aggregate amount of investment tax credits may be allocated to all participating investors of Mississippi small business investment companies under this section. The amount so allocated shall not exceed Forty-five Million Dollars ($45,000,000.00), and no Mississippi small business investment company, on an aggregate basis with its affiliates, may file credit allocation claims on the additional aggregate amount of tax credits that exceed Forty-five Million Dollars ($45,000,000.00).

(ii) The Forty-five Million Dollars ($45,000,000.00) aggregate amount of investment tax credits allocated in this paragraph (b) shall be divided into a primary tax credit pool which may be applied for by certified primary Mississippi small business investment companies and a secondary tax credit pool which may be applied for by certified secondary Mississippi small business investment companies. The secondary tax credit pool shall be Three Million Five Hundred Thousand Dollars ($3,500,000.00) of the total Forty-five Million Dollars ($45,000,000.00) aggregate amount of investment tax credits. Secondary Mississippi small business investment companies may not apply for more than One Million Seven Hundred Fifty Thousand Dollars ($1,750,000.00) worth of credits on a single application. A certified secondary Mississippi small business investment company may apply for additional tax credit allocation from the secondary tax credit pool, if the credits are available, after fifty percent (50%) of its previously allocated credits are used in qualified investments.

(iii) If there are any tax credits remaining available for allocation in the secondary tax credit pool on August 1, 2019, those available tax credits shall revert to the primary tax credit pool and be made available to primary Mississippi small business investment companies according to rules and regulations promulgated by the MDA. Prior to August 1, 2022, primary Mississippi small business investment companies, including any wholly owned subsidiary company, shall be prohibited from making application to the MDA to be additionally certified as a secondary Mississippi small business investment company for purposes of the tax credits allocated in this paragraph (b) and prohibited from applying for any tax credit allocation from the secondary tax credit pool. A certified primary Mississippi small business investment company may have ownership equity in a certified secondary Mississippi small business investment company, but the equity interest owned by the certified primary Mississippi small business investment company shall not exceed forty percent (40%).

(c)(i) From and after July 1, 2023, an additional aggregate amount of investment tax credits may be allocated to all participating investors of Mississippi small business investment companies under this section. The amount so allocated shall not exceed Forty-five Million Dollars ($45,000,000.00), and no Mississippi small business investment company, on an aggregate basis with its affiliates, may file credit allocation claims on the additional aggregate amount of tax credits that exceed Forty-five Million Dollars ($45,000,000.00).

(ii) The Forty-five Million Dollars ($45,000,000.00) aggregate amount of investment tax credits allocated in this paragraph (c) shall be divided into a primary tax credit pool which may be applied for by certified primary Mississippi small business investment companies and a secondary tax credit pool which may be applied for by certified secondary Mississippi small business investment companies. The secondary tax credit pool shall be Three Million Five Hundred Thousand Dollars ($3,500,000.00) of the total Forty-five Million Dollars ($45,000,000.00) aggregate amount of investment tax credits. Secondary Mississippi small business investment companies may not apply for more than One Million Seven Hundred Fifty Thousand Dollars ($1,750,000.00) worth of credits on a single application. A certified secondary Mississippi small business investment company may apply for additional tax credit allocation from the secondary tax credit pool, if the credits are available, after fifty percent (50%) of its previously allocated credits are used in qualified investments.

(iii) If there are any tax credits remaining available for allocation in the secondary tax credit pool on August 1, 2024, those available tax credits shall revert to the primary tax credit pool and be made available to primary Mississippi small business investment companies according to rules and regulations promulgated by the MDA. Prior to August 1, 2027, primary Mississippi small business investment companies, including any wholly owned subsidiary company, shall be prohibited from making application to the MDA to be additionally certified as a secondary Mississippi small business investment company for purposes of the tax credits allocated in this paragraph (c) and prohibited from applying for any tax credit allocation from the secondary tax credit pool. A certified primary Mississippi small business investment company may have ownership equity in a certified secondary Mississippi small business investment company, but the equity interest owned by the certified primary Mississippi small business investment company shall not exceed forty percent (40%).

(d) Credits must be allocated to investors in the order that the credit allocation claims are filed with the MDA.

(e) Any credit allocation claims filed with the MDA before the initial credit allocation claim filing date will be deemed to have been filed on the initial credit allocation claim filing date. The MDA will set the initial credit allocation claim filing date to be not less than one hundred twenty (120) days and not more than one hundred fifty (150) days after the date the MDA begins accepting applications for certification. Credit allocation claims filed on the same day with the MDA must be treated as having been filed contemporaneously.

(f) If two (2) or more Mississippi small business investment companies file credit allocation claims with the MDA on behalf of their respective participating investors on the same day and the aggregate amount of credit allocation claims exceeds the aggregate limit of credits authorized under this subsection (4) or the lesser amount of credits that remain unallocated on that day, then the credits shall be allocated among the participating investors who filed on that day on a pro rata basis with respect to the amounts claimed. The pro rata allocation for any one (1) participating investor is the product obtained by multiplying a fraction, the numerator of which is the amount of the credit allocation claim filed on behalf of a participating investor and the denominator of which is the total of all credit allocation claims filed on behalf of all participating investors on that day, by the aggregate limit of credits authorized under this subsection (4) or the lesser amount of credits that remain unallocated on that day.

(g) Within ten (10) business days after the MDA receives a credit allocation claim filed by a Mississippi small business investment company on behalf of one or more of its participating investors, the MDA may notify the Mississippi small business investment company of the amount of credits allocated to each of the participating investors of that Mississippi small business investment company. In the event a Mississippi small business investment company does not receive an investment of designated capital from each participating investor required to earn the amount of credits allocated to the participating investor within ten (10) business days of the Mississippi small business investment company's receipt of notice of allocation, then it shall notify the MDA on or before the next business day, and the credits allocated to the participating investor of the Mississippi small business investment company will be forfeited. The MDA may then reallocate those forfeited credits among the participating investors of the other Mississippi small business investment companies on a pro rata basis with respect to the credit allocation claims filed on behalf of the participating investors. The MDA may levy a fine of not more than Fifty Thousand Dollars ($50,000.00) on any participating investor that does not invest the full amount of designated capital required to fund the credits allocated to it by the MDA in accordance with the credit allocation claim filed on its behalf.

(h) No participating investor, on an aggregate basis with its affiliates, may file an allocation claim for more than twenty-five percent (25%) of the maximum amount of investment tax credits authorized under this subsection (4), regardless of whether the claim is made in connection with one or more Mississippi small business investment companies.
Miss. Code Ann. § 57-11-19 — MS Code / Title 57 / Chapter 10 / Section 11-19
Miss. Code Ann. § 57-11-19
Status: in_force

The Mississippi Department of Wildlife, Fisheries and Parks, the Mississippi Arts Commission, the Mississippi Department of Education, the Department of Human Services, the Mississippi Extension Service, the Mississippi Department of Agriculture and Commerce, the Mississippi Department of Economic and Community Development, and the Mississippi Fair Commission may cooperate with the marketing council in carrying out the purposes of Sections 57-11-15 through 57-11-21 .
Miss. Code Ann. § 57-47-1 — MS Code / Title 57 / Chapter 35 / Section 47-1
Miss. Code Ann. § 57-47-1
Status: in_force

The Southeast Interstate Low-Level Radioactive Waste Management Compact is hereby enacted into law and entered into by this state with any and all states legally joining therein in accordance with its terms, in the form substantially as follows:

Article I.

Policy and Purpose

There is hereby created the Southeast Interstate Low-Level Radioactive Waste Management Compact. The party states recognize and declare that each state is responsible for providing for the availability of capacity either within or outside the state for disposal of low-level radioactive waste generated within its borders, except for waste generated as a result of defense activities of the federal government or federal research and development activities. They also recognize that the management of low-level radioactive waste is handled most efficiently on a regional basis. The party states further recognize that the Congress of the United States, by enacting the Low-Level Radioactive Waste Policy Act ( P.L. 96-573 ), has provided for and encourages the development of low-level radioactive waste compacts as a tool for disposal of such waste. The party states recognize that the safe and efficient management of low-level radioactive waste generated within the region requires that sufficient capacity to dispose of such waste be properly provided.

It is the policy of the party states to: enter into a regional low-level radioactive waste management compact for the purpose of providing the instrument and framework for a cooperative effort, provide sufficient facilities for the proper management of low-level radioactive waste generated in the region, promote the health and safety of the region, limit the number of facilities required to effectively and efficiently manage low-level radioactive waste generated in the region, encourage the reduction of the amounts of low-level waste generated in the region, distribute the costs, benefits and obligations of successful low-level radioactive waste management equitably among the party states, and ensure the ecological and economical management of low-level radioactive wastes.

Implicit in the congressional consent to this compact is the expectation by the Congress and the party states that the appropriate federal agencies will actively assist the compact commission and the individual party states to this compact by:

1. Expeditious enforcement of federal rules, regulations and laws; and

2. Imposing sanctions against those found to be in violation of federal rules, regulations and laws; and

3. Timely inspection of their licensees to determine their capability to adhere to such rules, regulations and laws; and

4. Timely provision of technical assistance to this compact in carrying out their obligations under the Low-Level Radioactive Waste Policy Act as amended.

Article II.

Definitions

As used in this compact, unless the context clearly requires a different construction:

a. “Commission” or “compact commission” means the Southeast Interstate Low-Level Radioactive Waste Management Commission.

b. “Facility” means a parcel of land, together with the structures, equipment and improvements thereon or appurtenant thereto, which is used or is being developed for the treatment, storage or disposal of low-level radioactive waste.

c. “Generator” means any person who produces or possesses low-level radioactive waste in the course of or as an incident to manufacturing, power generation, processing, medical diagnosis and treatment, research, or other industrial or commercial activity. This does not include persons who provide a service to generators by arranging for the collection, transportation, storage or disposal of wastes with respect to such waste generated outside the region.

d. “High-level waste” means irradiated reactor fuel, liquid wastes from reprocessing irradiated reactor fuel and solids into which such liquid wastes have been converted, and other high-level radioactive waste as defined by the United States Nuclear Regulatory Commission.

e. “Host state” means any state in which a regional facility is situated or is being developed.

f. “Low-level radioactive waste” or “waste” means radioactive waste not classified as high-level radioactive waste, transuranic waste, spent nuclear fuel or by-product material as defined in Section 11e(2) of the Atomic Energy Act of 1954, or as may be further defined by federal law or regulation.

g. “Party state” means any state which is a signatory party to this compact.

h. “Person” means any individual, corporation, business enterprise or other legal entity (either public or private).

i. “Region” means the collective party states.

j. “Regional facility” means (1) a facility as defined in this article which has been designated, authorized, accepted or approved by the commission to receive waste or (2) the disposal facility in Barnwell County, South Carolina, owned by the State of South Carolina and as licensed for the burial of low-level radioactive waste on July 1, 1982, but in no event shall this disposal facility serve as a regional facility beyond December 31, 1992.

k. “State” means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands or any other territorial possession of the United States.

l. “Transuranic wastes” means waste material containing transuranic elements with contamination levels as determined by the regulations of (1) the United States Nuclear Regulatory Commission or (2) any host state, if it is an agreement state under Section 274 of the Atomic Energy Act of 1954.

m. “Waste management” means the storage, treatment or disposal of waste.

Article III.

Rights and Obligations

The rights granted to the party states by this compact are additional to the rights enjoyed by sovereign states, and nothing in this compact shall be construed to infringe upon, limit or abridge those rights.

a. Subject to any license issued by the United States Nuclear Regulatory Commission or a host state, each party state shall have the right to have all wastes generated within its borders stored, treated or disposed of, as applicable, at regional facilities, and additionally shall have the right of access to facilities made available to the region through agreements entered into by the commission pursuant to Article IV(e)(9). The right of access by a generator within a party state to any regional facility is limited by its adherence to applicable state and federal law and regulation.

b. If no operating regional facility is located within the borders of a party state and wastes generated within its borders must therefore be stored, treated, or disposed of at a regional facility in another party state, the party state without such facilities may be required by the host state or states to establish a mechanism which provides compensation for access to the regional facility according to terms and conditions established by the host state or states and approved by a two-thirds ( 2 / 3 ) vote of the commission.

c. Each party state must establish the capability to regulate, license and ensure the maintenance and extended care of any facility within its borders. Host states are responsible for the availability, the subsequent post closure observation and maintenance, and the extended institutional control of their regional facilities, in accordance with the provisions of Article V(b).

d. Each party state must establish the capability to enforce any applicable federal or state laws and regulations pertaining to the packaging and transportation of waste generated within or passing through its borders.

e. Each party state must provide to the commission on an annual basis, any data and information necessary to the implementation of the commission's responsibilities. Each party state shall establish the capability to obtain any data and information necessary to meet its obligation herein defined.

f. Each party state must, to the extent authorized by federal law, require generators within its borders to use the best available waste management technologies and practices to minimize the volumes of wastes requiring disposal.

Article IV.

The Commission

a. There is hereby created the Southeast Interstate Low-Level Radioactive Waste Management Commission, (“the commission” or “compact commission”). The commission shall consist of two (2) voting members from each party state to be appointed according to the laws of each state. The appointing authorities of each state must notify the commission in writing of the identity of its members and any alternates. An alternate may act on behalf of the member only in the member's absence.

b. Each commission member is entitled to one (1) vote. No action of the commission shall be binding unless a majority of the total membership cast their vote in the affirmative, or unless a greater than majority vote is specifically required by any other provision of this compact.

c. The commission must elect from among its members a presiding officer. The commission shall adopt and publish, in convenient form, bylaws which are consistent with this compact.

d. The commission must meet at least once a year and shall also meet upon the call of the presiding officer, by petition of a majority of the party states, or upon the call of a host state. All meetings of the commission must be open to the public.

e. The commission has the following duties and powers:

1. To receive and approve the application of a nonparty state to become an eligible state in accordance with Article VII(b); and

2. To receive and approve the application of an eligible state to become a party state in accordance with Article VII(c); and

3. To submit an annual report and other communications to the governors and to the presiding officer of each body of the legislature of the party states regarding the activities of the commission; and

4. To develop and use procedures for determining, consistent with considerations for public health and safety, the type and number of regional facilities which are presently necessary and which are projected to be necessary to manage waste generated within the region; and

5. To provide the party states with reference guidelines for establishing the criteria and procedures for evaluating alternative locations for emergency or permanent regional facilities; and

6. To develop and adopt, within one (1) year after the commission is constituted as provided for in Article VII(d), procedures and criteria for identifying a party state as a host state for a regional facility as determined pursuant to the requirements of this article. In accordance with these procedures and criteria, the commission shall identify a host state for the development of a second regional disposal facility within three (3) years after the commission is constituted as provided for in Article VII(d) and shall seek to ensure that such facility is licensed and ready to operate as soon as required, but in no event later than 1991.

In developing criteria, the commission must consider the following: the health, safety, and welfare of the citizens of the party states; the existence of regional facilities within each party state; the minimization of waste transportation; the volumes and types of wastes generated within each party state; and the environmental, economic, and ecological impacts on the air, land and water resources of the party states.

The commission shall conduct such hearings, require such reports, studies, evidence and testimony; and do what is required by its approved procedures in order to identify a party state as a host state for a needed facility; and

7. In accordance with the procedures and criteria developed pursuant to Section (e)(6) of this article, to designate, by a two-thirds ( 2 / 3 ) vote, a host state for the establishment of a needed regional facility. The commission shall not exercise this authority unless the party states have failed to voluntarily pursue the development of such facility. The commission shall have the authority to revoke the membership of a party state that willfully creates barriers to the siting of a needed regional facility; and

8. To require of and obtain from party states, eligible states seeking to become party states, and nonparty states seeking to become eligible states, data and information necessary to the implementation of commission responsibilities; and

9. Notwithstanding any other provision of this compact, to enter into agreements with any person, state or similar regional body or group of states for the importation of waste into the region and for the right of access to facilities outside the region for waste generated within the region. The authorization to import requires a two-thirds ( 2 / 3 ) majority vote of the commission, including an affirmative vote of both representatives of a host state in which any affected regional facility is located. This shall be done only after an assessment of the affected facilities' capability to handle such wastes; and

10. To act or appear on behalf of any party state or states, only upon written request of both members of the commission for such state or states, as an intervenor or party in interest before Congress, state legislatures, any court of law, or any federal, state or local agency, board or commission which has jurisdiction over the management of wastes. The authority to act, intervene or otherwise appear shall be exercised by the commission only after approval by a majority vote of the commission; and

11. To revoke the membership of a party state in accordance with Article VII(f).

f. The commission may establish any advisory committees as it deems necessary for the purpose of advising the commission on any matters pertaining to the management of low-level radioactive waste.

g. The commission may appoint or contract for and compensate a limited staff necessary to carry out its duties and functions. The staff shall serve at the commission's pleasure irrespective of the civil service, personnel or other merit laws of any of the party states or the federal government and shall be compensated from funds of the commission. In selecting any staff, the commission shall assure that the staff has adequate experience and formal training to carry out such functions as may be assigned to it by the commission. If the commission has a headquarters it shall be in a party state.

h. Funding for the commission shall be provided as follows:

1. Each eligible state, upon becoming a party state, shall pay Twenty-five Thousand Dollars ($ 25,000.00) to the commission which shall be used for costs of the commission's services.

2. Each state hosting a regional disposal facility shall annually levy special fees or surcharges on all users of such facility, based upon the volume of wastes disposed of at such facilities, the total of which:

(a) Must be sufficient to cover the annual budget of the commission; and

(b) Must represent the financial commitments of all party states to the commission; and

(c) Must be paid to the commission, provided, however, that each host state collecting such fees or surcharges may retain a portion of the collection sufficient to cover its administrative costs of collection, and that the remainder be sufficient only to cover the approved annual budgets of the commission.

3. The commission must set and approve its first annual budget as soon as practicable after its initial meeting. Host states for disposal facilities must begin imposition of the special fees and surcharges provided for in this section as soon as practicable after becoming party states, and must remit to the commission funds resulting from collection of such special fees and surcharges within sixty (60) days of their receipt.

i. The commission must keep accurate accounts of all receipts and disbursements. An independent certified public accountant shall annually audit all receipts and disbursements of commission funds, and submit an audit report to the commission. Such audit report shall be made a part of the annual report of the commission required by Article IV(e)(3).

j. The commission may accept for any of its purposes and functions any and all donations, grants of money, equipment, supplies, materials and services (conditional or otherwise) from any state or the United States or any subdivision or agency thereof, or interstate agency, or from any institution, person, firm or corporation, and may receive, utilize and dispose of the same. The nature, amount and condition, if any, attendant upon any donation or grant accepted pursuant to this paragraph together with the identity of the donor, grantor or lender, shall be detailed in the annual report of the commission.

k. The commission is not responsible for any costs associated with (1) the creation of any facility, (2) the operation of any facility, (3) the stabilization and closure of any facility, (4) the postclosure observation, and maintenance of any facility, or (5) the extended institutional control, after postclosure observation and maintenance of any facility.

l. As of January 1, 1986, the management of wastes at regional facilities is restricted to wastes generated within the region, and to wastes generated within nonparty states when authorized by the commission pursuant to the provisions of this compact. After January 1, 1986, the commission may prohibit the exportation of waste from the region for purposes of management.

m.1. The commission herein established is a legal entity separate and distinct from the party states, capable of acting in its own behalf, and is liable for its actions. Liabilities of the commission shall not be deemed liabilities of the party states. Members of the commission shall not be personally liable for actions taken by them in their official capacity.

2. Except as specifically provided in this compact, nothing in this compact shall be construed to alter the incidence of liability of any kind for any act, omission, course of conduct, or on account of any causal or other relationships. Generators, transporters of wastes, owners and operators of sites shall be liable for their acts, omissions, conduct, or relationships in accordance with all laws relating thereto.

Article V.

Development and Operation of Facilities

a. Any party state which becomes a host state in which a regional facility is operated shall not be designated by the compact commission as a host state for an additional regional facility until each party state has fulfilled its obligation, as determined by the commission, to have a regional facility operated within its borders.

b. A host state desiring to close a regional facility located within its borders may do so only after notifying the commission in writing of its intention to do so and the reasons therefor. Such notification shall be given to the commission at least four (4) years prior to the intended date of closure. Notwithstanding the four-year notice requirement herein provided, a host state is not prevented from closing its facility or establishing conditions of its use and operations as necessary for the protection of the health and safety of its citizens. A host state may terminate or limit access to its regional facility if it determines that Congress has materially altered the conditions of this compact.

c. Each party state designated as a host state for a regional facility shall take appropriate steps to ensure that an application for a license to construct and operate a facility of the designated type is filed with and issued by the appropriate authority.

d. No party state shall have any form of arbitrary prohibition on the treatment, storage or disposal of low-level radioactive waste within its borders.

e. No party state shall be required to operate a regional facility for longer than a twenty-year period, or to dispose of more than thirty-two million (32,000,000) cubic feet of low-level radioactive waste, whichever first occurs.

Article VI.

Other Laws and Regulations

a. Nothing in this compact shall be construed to:

1. Abrogate or limit the applicability of any act of Congress or diminish or otherwise impair the jurisdiction of any federal agency expressly conferred thereon by the Congress;

2. Abrogate or limit the regulatory responsibility and authority of the United States Nuclear Regulatory Commission or of an agreement state under Section 274 of the Atomic Energy Act of 1954 in which a regional facility is located;

3. Make inapplicable to any person or circumstance any other law of a party state which is not inconsistent with this compact;

4. Make unlawful the continued development and operation of any facility already licensed for development or operation on the date this compact becomes effective, except that any such facility shall comply with Article III, Article IV and Article V and shall be subject to any action lawfully taken pursuant thereto;

5. Prohibit any storage or treatment of waste by the generator on its own premises;

6. Affect any judicial or administrative proceeding pending on the effective date of this compact;

7. Alter the relations between, and the respective internal responsibilities of, the government of a party state and its subdivisions;

8. Affect the generation, treatment, storage or disposal of waste generated by the atomic energy defense activities of the Secretary of the United States Department of Energy or federal research and development activities as defined in P.L. 96-573 ;

9. Affect the rights and powers of any party state and its political subdivisions to regulate and license any facility within its borders or to affect the rights and powers of any party state and its political subdivisions to tax or impose fees on the waste managed at any facility within its borders.

b. No party state shall pass any law or adopt any regulation which is inconsistent with this compact. To do so may jeopardize the membership status of the party state.

c. Upon formation of the compact, no law or regulation of a party state or of any subdivision or instrumentality thereof may be applied so as to restrict or make more inconvenient access to any regional facility by the generators of another party state than for the generators of the state where the facility is situated.

d. Restrictions of waste management of regional facilities pursuant to Article IV(l) shall be enforceable as a matter of state law.

Article VII.

Eligible Parties, Withdrawal, Revocation, Entry into Force, Termination

a. This compact shall have as initially eligible parties the States of Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia.

b. Any state not expressly declared eligible to become a party state to this compact in Section (a) of this article may petition the commission, once constituted, to be declared eligible. The commission may establish such conditions as it deems necessary and appropriate to be met by a state wishing to become eligible to become a party state to this compact pursuant to the provisions of this section. Upon satisfactorily meeting such conditions and upon the affirmative vote of two-thirds ( 2 / 3 ) of the commission, including the affirmative vote of both representatives of a host state in which any affected regional facility is located, the petitioning state shall be eligible to become a party state to this compact and may become a party state in the same manner as those states declared eligible in Section (a) of this article.

c. Each state eligible to become a party state to this compact shall be declared a party state upon enactment of this compact into law by the state and upon payment of the fees required by Article IV(h)(1). The commission shall be the judge of the qualifications of the party states and of its members and of their compliance with the conditions and requirements of this compact and the laws of the party states relating to the enactment of this compact.

d.1. The first three (3) states eligible to become party states to this compact which enact this compact into law and appropriate the fees required by Article IV(h)(1) shall immediately, upon the appointment of their commission members, constitute themselves as the Southeast Low-Level Radioactive Waste Management Commission, shall cause legislation to be introduced into the Congress which grants the consent of the Congress to this compact, and shall do those things necessary to organize the commission and implement the provisions of this compact.

2. All succeeding states eligible to become party states to this compact shall be declared party states pursuant to the provisions of Section (c) of this article.

3. The consent of the Congress shall be required for full implementation of this compact. The provisions of Article V(d) shall not become effective until the effective date of the import ban authorized by Article IV(l) as approved by Congress. The Congress may by law withdraw its consent only every five (5) years.

e. No state which holds membership in any other regional compact for the management of low-level radioactive waste may be considered by the compact commission for eligible state status or party state status.

f. Any party state which fails to comply with the provisions of this compact or to fulfill the obligations incurred by becoming a party state to this compact may be subject to sanctions by the commission, including suspension of its rights under this compact, and revocation of its status as a party state. Any sanction shall be imposed only upon the affirmative vote of at least two-thirds ( 2 / 3 ) of the commission members. Revocation of party state status may take effect on the date of the meeting at which the commission approves the resolution imposing such sanction, but in no event shall revocation take effect later than ninety (90) days from the date of such meeting. Rights and obligations incurred by being declared a party state to this compact shall continue until the effective date of the sanction imposed or as provided in the resolution of the commission imposing the sanction.

The commission must, as soon as practicable after the meeting at which a resolution revoking status as a party state is approved, provide written notice of the action along with a copy of the resolution to the governors, the presidents of the senates, and the speakers of the houses of representatives of the party states, as well as chairmen of the appropriate committees of the Congress.

g. Subject to the provisions of Article VII(h), any party state may withdraw from this compact by enacting a law repealing the compact, provided that if a regional facility is located within such state, such regional facility shall remain available to the region for four (4) years after the date the commission receives verification in writing from the governor of such party state of the rescission of the compact. The commission, upon receipt of the notification, shall, as soon as practicable, provide copies of such notification to the governors, the presidents of the senates, and the speakers of the houses of representatives of the party states, as well as the chairmen of the appropriate committees of the Congress.

h. The right of a party state to withdraw pursuant to Article VII(g) shall terminate thirty (30) days following the commencement of operation of the second host state facility. Thereafter, a party state may withdraw only with the unanimous approval of the commission and with the consent of Congress. For purposes of this section, the low-level radioactive waste disposal facility located in Barnwell County, South Carolina, shall be considered the first host state disposal facility.

i. This compact may be terminated only by the affirmative action of the Congress or by the rescission of all laws enacting the compact in each party state.

Article VIII.

Penalties

a. Each party state, consistently with its own law, shall prescribe and enforce penalties against any person not an official of another state for violation of any provision of this compact.

b. Each party state acknowledges that the receipt by a host state of waste packaged or transported in violation of applicable laws and regulations can result in imposition of sanctions by the host state which may include suspension or revocation of the violator's right of access to the facility in the host state.

Article IX.

Severability and Construction

The provisions of this compact shall be severable and if any phrase, clause, sentence or provision of this compact is declared by a court of competent jurisdiction to be contrary to the constitution of any participating state or of the United States or the applicability thereof to any government, agency, person or circumstance is held invalid, the validity of the remainder of this compact and the applicability thereof to any other government, agency, person or circumstance shall not be affected thereby. If any provision of this compact shall be held contrary to the constitution of any state participating therein, the compact shall remain in full force and effect as to the state affected as to all severable matters. The provisions of this compact shall be liberally construed to give effect to the purposes thereof.
Miss. Code Ann. § 57-49-7 — MS Code / Title 57 / Chapter 10 / 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. § 57-11-69 — MS Code / Title 57 / Chapter 4 / Section 11-69
Miss. Code Ann. § 57-11-69
Status: in_force

There shall be a “selected industrial feasibility fund,” which fund shall be maintained in the state treasury as a separate fund. The Mississippi Agricultural and Industrial Board is authorized to receive appropriated funds from the legislature of the State of Mississippi and contributions and funds from the different political subdivisions of this state and area industrial development districts or organizations, and shall deposit all of said funds and contributions into this “selected industrial feasibility fund,” and said Mississippi Agricultural and Industrial Board shall, in the manner now required by law, expend from said fund such sums of money necessary for the payment of feasibility studies required in connection with the provisions of Sections 57-11-61 through 57-11-69 , so long as there is a balance in the said fund.
Miss. Code Ann. § 57-75-37 — MS Code / Title 57 / Chapter 75 / Section 75-37
Miss. Code Ann. § 57-75-37
Status: in_force

(1)(a)(i) Any county in which there is to be constructed a project as defined in Section 57-75-5(f)(xviii) is authorized to assist in defraying the costs incurred or to be incurred by the enterprise establishing such project by:

1. Contributing a sum of up to Five Million Dollars ($5,000,000.00) to such enterprise for use in connection with the construction of the project; and/or

2. Lending a sum of up to Five Million Dollars ($5,000,000.00) upon such terms as the board of supervisors of such county and such enterprise may agree, the proceeds of which loan shall be used by such enterprise in connection with the construction or financing of the project.

(ii) In order to provide the amounts set forth in paragraph (a)(i) of this subsection (1), any such county may appropriate monies from the county's general funds or provide such amounts from the proceeds of general obligation bonds, or any combination of the foregoing. Any such county may issue the bonds for such purpose pursuant to the procedures for the issuance of bonds under Chapter 9, Title 19, Mississippi Code of 1972, or Section 19-5-99 .

(b) The board of supervisors of any county may donate real property for use in the location, construction and/or operation of a project as defined under Section 57-75-5(f)(xviii) to one or more economic development authorities, economic development districts, industrial development authorities or similar public agencies created pursuant to state law that engage in economic or industrial development in the county, and any such public agencies may accept such donation of real property from the county. Such public agencies also may transfer and convey among themselves, with or without consideration being paid or received, real property to be used in the location, construction and/or operation of such a project, and may accept such transfers or donations.

(2) Any county or municipality in which there is to be constructed a project as defined in Section 57-75-5(f)(xxvi) or 57-75-5(f)(xxvii) is authorized to:

(a) Acquire the site for such project and contribute the site to the enterprise owning or operating the project;

(b) Apply for grants and loans and utilize the proceeds of such grants and loans for infrastructure related to the project; and

(c) Enter into a lease agreement with the enterprise owning or operating the project for a term not to exceed ninety-nine (99) years.

(3)(a) As used in this subsection:

(i) “ Project ” shall have the meaning ascribed to such term in Section 57-75-5(f) (xxviii).

(ii) “ Public agency ” means the county in which the project is located, any municipality located in the county, and/or any economic development authority, economic development district, industrial development authority or similar public agency created pursuant to state law that engages in economic or industrial development in the county or a municipality in the county.

(b) Any county in which there is to be located a project is authorized to assist as provided in this paragraph in defraying the costs incurred or to be incurred by the enterprise establishing the project and any public agency in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project. The county may provide such assistance by contributing or lending any sum approved for such purpose by the board of supervisors of the county, upon such terms as the board of supervisors may agree, to the entity that directly or indirectly incurs or will incur such costs or as otherwise provided in paragraph (c) of this subsection. The proceeds of the contribution or loan shall be used by the recipient in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project.

(c) In order to provide the amounts set forth in paragraph (b) of this subsection, any such county may appropriate monies from the county's general funds or provide such amounts from the proceeds of general obligation bonds, or any combination of the foregoing. Any such county may issue the bonds for such purpose pursuant to the procedures for the issuance of bonds under Chapter 9, Title 19, Mississippi Code of 1972, or Section 19-5-99 .

(d) In any county in which there is to be located a project, the governing authorities of any public agency may:

(i) Transfer and convey to the authority or the Mississippi Development Authority, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, and the authority and the Mississippi Development Authority may accept such transfers or donations;

(ii) Transfer and convey among themselves, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of a project or any facilities or public infrastructure related to the project, and may accept such transfers or donations; and

(iii) Make grants or other contributions of funds to one another for use in connection with the location, construction and/or operation of such a project or any facilities or public infrastructure related to the project, and may accept such grants or contributions of funds.

(e) In any county in which there is to be located a project, the person, entity or other agency seeking to acquire any real property to be used in connection with the location, construction and/or operation of the project, shall be exempt with respect to such property from the requirements of Section 43-37-3(1)(b) and (c) if the purchase price for such property equals the lowest price negotiated between the owner of the property and the person, agency or other entity seeking to acquire the property, and at which the owner of the property is willing to sell the property.

(4)(a) As used in this subsection:

(i) “ Project ” shall have the meaning ascribed to such term in Section 57-75-5(f)(xxix) .

(ii) “ Public agency ” means the county in which the project is located, any municipality located in the county, and/or any economic development authority, economic development district, industrial development authority or similar public agency created pursuant to state law that engages in economic or industrial development in the county or a municipality in the county.

(iii) “ Board of education ” shall have the meaning ascribed to such term in Section 29-3-1.1 .

(iv) “ Superintendent of education ” shall have the meaning ascribed to such term in Section 29-3-1.1 .

(b) In any county in which there is to be located a project, any public agency is authorized to assist as provided in this paragraph in defraying the costs incurred or to be incurred by the enterprise establishing the project and/or any public agency in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project. Any such public agency may provide such assistance by contributing or lending any sum approved for such purpose by the governing authority of such public agency, upon such terms as the governing authority of such public agency may agree, to the entity or public agency that directly or indirectly incurs or will incur such costs or as otherwise provided in paragraph (c) of this subsection. The proceeds of the contribution or loan shall be used by the recipient in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, including, without limitation, to defray the costs of site preparation, utilities, real estate purchases, purchase options and improvements, infrastructure, roads, rail improvements, public works, job training, as well as planning, design and environmental impact studies with respect to a project, and any other expenses approved by any such public agency.

(c) In order to provide the amounts set forth in paragraph (b) of this subsection:

(i) Any such county may appropriate monies from the county's general funds or provide such amounts from the proceeds of general obligation bonds. Any such county may issue the bonds for such purpose pursuant to the procedures for the issuance of bonds under Chapter 9, Title 19, Mississippi Code of 1972, Section 19-5-99 or in any other manner permitted by any local and private law or other general laws; and

(ii) Any public agency may borrow or accept grants of such amounts from the authority or the Mississippi Development Authority for such duration and upon such terms and conditions approved by the governing authority of such public agency and the authority or Mississippi Development Authority, as applicable.

(d) In any county in which there is to be located a project, the governing authority of any public agency may:

(i) Transfer and convey to the authority or the Mississippi Development Authority, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, and the authority and the Mississippi Development Authority may accept such transfers or donations;

(ii) Transfer and convey among themselves, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of a project or any facilities or public infrastructure related to the project, and may accept such transfers or donations;

(iii) Make grants or other contributions of funds to:

1. One another for use in connection with the location, construction and/or operation of such a project or any facilities or public infrastructure related to the project, and may accept such grants or contributions of funds; and/or

2. A local water association incorporated as a nonprofit corporation and located within such county for the purpose of defraying the costs incurred or to be incurred thereby in connection with water or wastewater-related infrastructure improvements, including an elevated water tank, located within the project area; and

(iv) Make one or more periodic grants or other contributions of funds to an enterprise or affiliate thereof owning and/or operating a project in such amount or amounts approved by such governing authority, and enter into an agreement with such enterprise to make such periodic grants or other contributions of funds; however, the duration of any such obligation of the public agency to make such grants or other contributions shall not exceed thirty (30) years.

(e) In any county in which there is to be located a project, the public agency seeking to acquire any real property to be used in connection with the location, construction and/or operation of the project, shall be exempt with respect to such property from the requirements of Section 43-37-3(1)(b) and (c) if the purchase price for such property equals the lowest price negotiated between the owner of the property and the public agency seeking to acquire the property, and at which the owner of the property is willing to sell the property, and any such public agency is further authorized to procure an option to purchase any such real property for such purchase price authorized by this subsection for the lowest option payment at which the owner of the property is willing to grant such option.

(f) In any county in which there is to be located a project, upon the sale of any sixteenth section lands for industrial purposes as provided by law for such project, the board of education controlling such lands, the superintendent of education and the Mississippi Development Authority, on behalf of the state, may sell and convey all minerals in, on and under any such lands for such consideration determined to be adequate by, and upon such terms and conditions prescribed by, such board of education, superintendent of education and the Mississippi Development Authority.

(g) In any county in which there is to be located a project, the governing authority of the applicable public agency may enter into an agreement binding on future governing authorities, for any period not to exceed thirty (30) years to:

(i) Waive any and all fees and expenses associated with building permits and privilege licenses required for the project;

(ii) Establish and/or maintain a rate structure for water supplied to the project and wastewater received from the project, which shall be no higher than the lowest tariff prices for such water and wastewater charged to any customer of equal or lesser volume located within the boundaries of the public agency;

(iii) Provide firefighting, hazardous materials emergency response, technical rescue and medical response assistance to the enterprise owning or operating the project; and

(iv) Require any contractor hired by the public agency for purposes of entering onto the project site for such project to perform work-related to the provision of water supply or wastewater services, to procure customary liability insurance designating the enterprise owning or operating the project as an additional insured and to contractually indemnify such enterprise for any losses incurred by the enterprise as a result of such contractor's negligence and/or willful acts or omissions arising from the contractor's entry upon such project site.

(5)(a) As used in this subsection:

(i) “ Project ” shall have the meaning ascribed to such term in Section 57-75-5(f)(xxxi) .

(ii) “ Public agency ” means the county in which the project is located, any municipality located in the county, and/or any economic development authority, economic development district, industrial development authority, port authority or airport authority or similar public agency created pursuant to state law.

(iii) “ Board of education ” shall have the meaning ascribed to such term in Section 29-3-1.1 .

(iv) “ Superintendent of education ” shall have the meaning ascribed to such term in Section 29-3-1.1 .

(b) In any county in which there is to be located a project, any public agency is authorized to assist as provided in this paragraph in defraying the costs incurred or to be incurred by the enterprise establishing the project and/or any public agency in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project. Any such public agency may provide such assistance by contributing or lending any sum approved for such purpose by the governing authority of such public agency, upon such terms as the governing authority of such public agency may agree, to the entity or public agency that directly or indirectly incurs or will incur such costs or as otherwise provided in paragraph (c) of this subsection. The proceeds of the contribution or loan shall be used by the recipient in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, including, without limitation, to defray the costs of site preparation, utilities, real estate purchases, purchase options and improvements, infrastructure, roads, rail improvements, public works, job training, as well as planning, design and environmental impact studies with respect to a project, and any other expenses approved by any such public agency.

(c) In order to provide the amounts set forth in paragraph (b) of this subsection:

(i) Any such county may appropriate monies from the county's general funds or provide such amounts from the proceeds of general obligation bonds. Any such county may issue the bonds for such purpose pursuant to the procedures for the issuance of bonds under Chapter 9, Title 19, Mississippi Code of 1972, Section 19-5-99 or in any other manner permitted by any local and private law or other general laws; and

(ii) Any public agency may borrow or accept grants of such amounts from the authority or the Mississippi Development Authority for such duration and upon such terms and conditions approved by the governing authority of such public agency and the authority or Mississippi Development Authority, as applicable.

(d) In any county in which there is to be located a project, the governing authorities of public agencies may:

(i) Transfer and convey among themselves, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of a project or any facilities or public infrastructure related to the project, and may accept such transfers or donations;

(ii) Make grants or other contributions of funds to one another for use in connection with the location, construction and/or operation of such a project or any facilities or public infrastructure related to the project, and may accept such grants or contributions of funds; and

(iii) Make one or more grants or other contributions of funds to an enterprise or affiliate thereof owning and/or operating a project in such amount or amounts approved by such governing authority, and enter into an agreement with such enterprise to make such grants or other contributions of funds; however, the duration of any such obligation of the public agency to make such grants or other contributions shall not exceed thirty (30) years.

(e) In any county in which there is to be located a project, the public agency seeking to acquire any real property to be used in connection with the location, construction and/or operation of the project, shall be exempt with respect to such property from the requirements of Section 43-37-3(1)(b) and (c) if the purchase price for such property equals the lowest price negotiated between the owner of the property and the public agency seeking to acquire the property, and at which the owner of the property is willing to sell the property, and any such public agency is further authorized to procure an option to purchase any such real property for such purchase price authorized by this subsection for the lowest option payment at which the owner of the property is willing to grant such option.

(f) In any county in which there is to be located a project, upon the sale of land owned by an industrial development authority, port authority or airport authority for industrial purposes as provided by law for such project, the governing authorities controlling such lands may sell and convey all minerals in, on and under any such lands for such consideration determined to be adequate by, and upon such terms and conditions prescribed by, such governing authority or may otherwise enter into a written agreement with the enterprise owning and/or operating such project pursuant to which such governing authority of the industrial development authority, port authority or airport authority, as the case may be, may agree to perpetually refrain from using the surface of such land upon which the project is located to access any minerals located thereunder in which such public agency has a retained ownership interest. Any such written agreement shall be binding upon future governing authorities.

(g) In any county in which there is to be located a project, the governing authority of the applicable public agency may enter into an agreement binding on future governing authorities, for any period not to exceed thirty (30) years to:

(i) Waive any and all fees and expenses associated with building permits and privilege licenses required for the project;

(ii) Establish and/or maintain a rate structure for water supplied to the project and wastewater received from the project, which shall be no higher than the lowest tariff prices for such water and wastewater charged to any customer of equal or lesser volume located within the boundaries of the public agency; and

(iii) Require any contractor hired by the public agency for purposes of entering onto the project site for such project to perform work related to the provision of water supply or wastewater services, to procure customary liability insurance designating the enterprise owning or operating the project as an additional insured and to contractually indemnify such enterprise for any losses incurred by the enterprise as a result of such contractor's negligence and/or willful acts or omissions arising from the contractor's entry upon such project site.

(6)(a) As used in this subsection:

(i) “ Project ” shall have the meaning ascribed to such term in Section 57-75-5(f)(xxxii) .

(ii) “ Public agency ” means the county in which the project is located, any municipality located in the county, and/or any economic development authority, economic development district, industrial development authority, port authority, airport authority, public utility or similar public agency created pursuant to state law.

(b) In any county in which there is to be located a project, any public agency is authorized to assist as provided in this paragraph in defraying the costs incurred or to be incurred by the enterprise establishing the project and/or any public agency in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project. Any such public agency may provide such assistance by contributing or lending any sum approved for such purpose by the governing authority of such public agency, upon such terms as the governing authority of such public agency may agree, to the entity or public agency that directly or indirectly incurs or will incur such costs or as otherwise provided in paragraph (c) of this subsection. The proceeds of the contribution or loan shall be used by the recipient in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, including, without limitation, to defray the costs of site preparation, utilities, real estate purchases, purchase options and improvements, infrastructure, roads, rail improvements, public works, job training, as well as planning, design and environmental impact studies with respect to a project, and any other expenses approved by any such public agency. Any such public agency may alternatively provide such assistance by undertaking the acquisition of real and/or personal property, or interests therein, with respect to, and the design, engineering, construction and installation of, any facilities or public infrastructure related to the project regardless of whether it is authorized by applicable statutes to operate such facilities or public infrastructure and/or provide any utility services therefrom following the completion thereof; provided that, if the public agency is authorized by applicable statutes to operate such facilities or public infrastructure following the completion thereof, such public agency may transfer, and if the public agency is not authorized by applicable statutes to operate such facilities or public infrastructure and/or provide any utility services therefrom following the completion thereof, the public agency shall transfer, such facilities or public infrastructure to another public agency that is authorized by applicable statutes to operate such facilities or public infrastructure and/or provide any utility services therefrom.

(c) In order to provide the amounts or otherwise perform any permitted actions set forth in paragraph (b) of this subsection:

(i) Any such county may appropriate monies from the county's general funds or provide such amounts from the proceeds of general obligation bonds or other indebtedness permitted by any local and private law or other general laws. Any such county may issue the bonds for such purpose pursuant to the procedures for the issuance of bonds under Chapter 9, Title 19, Mississippi Code of 1972, Section 19-5-99 or in any other manner permitted by any local and private law or other general laws; and

(ii) Any public agency may borrow or accept grants or other funds of such amounts from the authority or the Mississippi Development Authority for such duration and upon such terms and conditions approved by the governing authority of such public agency and the authority or Mississippi Development Authority, as applicable.

(iii) Any such county may enter into one or more agreements with the authority or Mississippi Development Authority approved by the board of supervisors of the county and, as applicable, to remit to the authority or Mississippi Development Authority, as applicable, on an annual or other periodic basis for a duration up to thirty (30) years, a portion of any fee-in-lieu of ad valorem taxes, together with a portion of any county ad valorem taxes, derived from the project. Any such written agreement shall be binding upon future boards of supervisors of the county.

(d) In any county in which there is to be located a project, the governing authorities of public agencies may:

(i) Transfer and convey among themselves, or to the authority, the Mississippi Development Authority, the Mississippi Department of Transportation or any other state agency, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of a project or any facilities or public infrastructure related to the project, and may accept such transfers or donations;

(ii) Make grants or other contributions of funds to any public agency and/or any local water association incorporated as a nonprofit corporation and located within such county for the purpose of defraying the costs incurred or to be incurred thereby in connection with water or wastewater-related infrastructure improvements, including one or more water tanks, related to the project, and/or undertake the acquisition of real and/or personal property, or interests therein, with respect to, and the design, engineering, construction and installation of, any water or wastewater-related infrastructure, including one or more water tanks, related to the project, and thereafter transfer and convey to any other public agency and/or any local water association any real and/or personal property for use in connection with water or wastewater-related infrastructure improvements, including one or more water tanks, related to the project, in consideration solely of the acceptance by the public agency and/or the local water association, as applicable, of such improvements and its agreement to operate the improvements to provide water or wastewater-related services to the project;

(iii) Make grants or other contributions of funds to a municipality located within such county for the purpose of defraying the costs incurred or to be incurred thereby in connection with natural gas-related infrastructure improvements related to the project, and/or undertake the acquisition of real and/or personal property, or interests therein, with respect to, and the design, engineering, construction and installation of, any natural gas-related infrastructure improvements related to the project, and thereafter transfer and convey to any such municipality any real and/or personal property for use in connection with natural gas-related infrastructure improvements related to the project, in consideration solely of the acceptance by the municipality of such improvements and its agreement to operate the improvements to provide natural gas-related services to the project;

(iv) Make grants or other contributions of funds to one another, or to the authority, the Mississippi Development Authority, the Mississippi Department of Transportation or any other state agency, for use in connection with the location, construction and/or operation of such a project or any facilities or public infrastructure related to the project, and may accept such grants or contributions of funds;

(v) Make one or more grants or other contributions of funds to an enterprise or affiliate thereof owning and/or operating a project in such amount or amounts approved by such governing authority, and enter into an agreement with such enterprise that is binding on future governing authorities to make such grants or other contributions of funds; however, the duration of any such obligation of the public agency to make such grants or other contributions shall not exceed thirty (30) years; and

(vi) Provide firefighting, hazardous materials emergency response, technical rescue and medical response assistance to the enterprise owning or operating the project, and enter into an agreement binding on future governing authorities with such enterprise to provide such firefighting, hazardous materials emergency response, technical rescue and medical response assistance for a term not to exceed thirty (30) years, to be determined by the governing authority of the public agency entering into such agreement.

(e) In any county in which there is to be located a project, the public agency seeking to acquire any real property to be used in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, shall be exempt with respect to such property from the requirements of Section 43-37-3(1)(b) and (c) if the purchase price for such property equals the lowest price negotiated between the owner of the property and the public agency seeking to acquire the property, and at which the owner of the property is willing to sell the property, and any such public agency is further authorized to procure an option to purchase any such real property for such purchase price authorized by this subsection for the lowest option payment at which the owner of the property is willing to grant such option.

(f) In any county in which there is to be located a project, upon the conveyance or other disposition of land owned by a public agency for industrial purposes as provided by law for such project, the governing authority of the public agency controlling such lands may enter into a written agreement with the enterprise owning and/or operating such project pursuant to which such governing authority may agree to perpetually refrain from using the surface of such land upon which the project is located to access any minerals located thereunder in which such public agency has a retained ownership interest. Any such written agreement shall be binding upon future governing authorities.

(g) In any county in which there is to be located a project, the governing authority of the applicable public agency may enter into an agreement binding on future governing authorities, for any period not to exceed thirty (30) years to:

(i) Waive any and all fees and expenses associated with building permits and privilege licenses required for the project;

(ii) Establish and/or maintain a rate structure for water and natural gas supplied to the project and wastewater received from the project, which shall be no higher than the lowest tariff prices for such water, natural gas and wastewater charged to any customer of equal or lesser volume located within the boundaries of the public agency; and

(iii) Require any contractor hired by the public agency for purposes of entering onto the project site for such project to perform work related to the provision of water or natural gas supply or wastewater services, to procure customary liability insurance designating the enterprise owning or operating the project as an additional insured and to contractually indemnify such enterprise for any losses incurred by the enterprise as a result of such contractor's negligence and/or willful acts or omissions arising from the contractor's entry upon such project site.

(7)(a) As used in this subsection:

(i) “ Project ” shall have the meaning ascribed to such term in Section 57-75-5(f) (xxxiii).

(ii) “ Public agency ” means the county in which the project is located, any municipality located in the county, and/or any economic development authority, economic development district, industrial development authority, port authority, airport authority, public utility or similar public agency created pursuant to state law.

(b) In any county in which there is to be located a project, any public agency is authorized to assist as provided in this paragraph in defraying the costs incurred or to be incurred by the enterprise establishing the project and/or any public agency in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project. Any such public agency may provide such assistance by contributing or lending any sum approved for such purpose by the governing authority of such public agency, upon such terms as the governing authority of such public agency may agree, to the entity or public agency that directly or indirectly incurs or will incur such costs or as otherwise provided in paragraph (c) of this subsection. The proceeds of the contribution or loan shall be used by the recipient in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, including, without limitation, to defray the costs of site preparation, utilities, real estate purchases, purchase options and improvements, infrastructure, roads, rail improvements, public works, job training, as well as planning, design and environmental impact studies with respect to a project, and any other expenses approved by any such public agency. Any such public agency may alternatively provide such assistance by undertaking the acquisition of real and/or personal property, or interests therein, with respect to, and the design, engineering, construction and installation of, any facilities or public infrastructure related to the project regardless of whether it is the public agency authorized by applicable statutes to operate such facilities or public infrastructure and/or provide any utility services therefrom following the completion thereof; provided that, if the public agency is authorized by applicable statutes to operate such facilities or public infrastructure following the completion thereof, such public agency may transfer, and if the public agency is not authorized by applicable statutes to operate such facilities or public infrastructure and/or provide any utility services therefrom following the completion thereof, the public agency shall transfer such facilities or public infrastructure to another public agency that is authorized by applicable statutes to operate such facilities or public infrastructure and/or provide any utility services therefrom.

(c) In order to provide the amounts or otherwise perform any permitted actions set forth in paragraph (b) of this subsection:

(i) Any such county may appropriate monies from the county's general fund or provide such amounts from the proceeds of general obligation bonds or other indebtedness permitted by any local and private law or other general laws. Any such county may issue the bonds for such purpose pursuant to the procedures for the issuance of bonds under Title 19, Chapter 9, Mississippi Code of 1972, Section 19-5-99 or in any other manner permitted by any local and private law or other general laws;

(ii) Any public agency may borrow or accept grants or other funds of such amounts from the authority or the Mississippi Development Authority for such duration and upon such terms and conditions approved by the governing authority of such public agency and the authority or Mississippi Development Authority, as applicable; and

(iii) Any such county and/or municipality may enter into one or more agreements with the authority or Mississippi Development Authority approved by the board of supervisors of such county and/or the governing authority of such municipality, as applicable, to remit to the authority or Mississippi Development Authority, as applicable, on an annual or other periodic basis for a duration up to thirty (30) years, a portion of any fee-in-lieu of ad valorem taxes, together with a portion of any ad valorem taxes that the county and/or municipality derives from the project. Any such written agreement shall be binding upon future governing authorities of the county and/or municipality, as applicable.

(d) In any county in which there is to be located a project, the governing authorities of public agencies may:

(i) Transfer and convey among themselves, or to the authority, the Mississippi Development Authority, the Mississippi Department of Transportation or any other state agency, with or without consideration being paid or received, any real and/or personal property for use in connection with the location, construction and/or operation of a project or any facilities or public infrastructure related to the project, and may accept such transfers or donations;

(ii) Make grants or other contributions of funds to any public agency and/or any local water association incorporated as a nonprofit corporation and located within such county for the purpose of defraying the costs incurred or to be incurred thereby in connection with water or wastewater-related infrastructure improvements, including one or more water tanks, related to the project, and/or undertake the acquisition of real and/or personal property, or interests therein, with respect to, and the design, engineering, construction and installation of, any water or wastewater-related infrastructure, including one or more water tanks, related to the project, and thereafter transfer and convey to any other public agency and/or any local water association any real and/or personal property for use in connection with water or wastewater-related infrastructure improvements, including one or more water tanks, related to the project, in consideration solely of the acceptance by the public agency and/or the local water association, as applicable, of such improvements and its agreement to operate the improvements to provide water or wastewater-related services to the project;

(iii) Make grants or other contributions of funds to one another, or to the authority, the Mississippi Development Authority, the Mississippi Department of Transportation or any other state agency, for use in connection with the location, construction and/or operation of such a project or any facilities or public infrastructure related to the project, and may accept such grants or contributions of funds;

(iv) Make one or more grants or other contributions of funds to an enterprise or affiliate thereof owning and/or operating a project in such amount or amounts approved by such governing authority, and enter into an agreement with such enterprise that is binding on future governing authorities to make such grants or other contributions of funds; however, the duration of any such obligation of the public agency to make such grants or other contributions shall not exceed thirty (30) years; and

(v) Provide firefighting, hazardous materials emergency response, technical rescue and medical response assistance to the enterprise owning or operating the project, and enter into an agreement binding on future governing authorities with such enterprise to provide such firefighting, hazardous materials emergency response, technical rescue and medical response assistance for a term not to exceed thirty (30) years, to be determined by the governing authority of the public agency entering into such agreement.

(e) In any county in which there is to be located a project, the public agency seeking to acquire any real property to be used in connection with the location, construction and/or operation of the project or any facilities or public infrastructure related to the project, shall be exempt with respect to such property from the requirements of Section 43-37-3(1)(b) and (c) if the purchase price for such property equals the lowest price negotiated between the owner of the property and the public agency seeking to acquire the property, and at which the owner of the property is willing to sell the property, and any such public agency is further authorized to procure an option to purchase any such real property for such purchase price authorized by this subsection for the lowest option payment at which the owner of the property is willing to grant such option.

(f) In any county in which there is to be located a project, upon the conveyance or other disposition of land owned by a public agency for industrial purposes as provided by law for such project, the governing authority of the public agency controlling such lands may enter into a written agreement with the enterprise owning and/or operating such project pursuant to which such governing authority may agree to perpetually refrain from using the surface of such land upon which the project is located to access any minerals located thereunder in which such public agency has a retained ownership interest. Any such written agreement shall be binding upon future governing authorities.

(g) In any county in which there is to be located a project, the governing authority of the applicable public agency may enter into an agreement binding on future governing authorities, for any period not to exceed thirty (30) years, to:

(i) Waive or reduce any fees and expenses associated with building permits and privilege licenses required for the project;

(ii) Establish and/or maintain a rate structure for potable water to the project, nonpotable and treated, reclaimed wastewater supplied to the project for nonpotable purposes, and wastewater received from the project, which rates shall be established and/or maintained, as applicable, in the manner prescribed by state law and the local tariffs of the public agency providing such water and accepting such wastewater; and

(iii) Require any contractor hired by the public agency for purposes of entering onto the project site for such project to perform work related to the provision of water or wastewater services, to procure customary liability insurance designating the enterprise owning or operating the project as an additional insured and to contractually indemnify such enterprise for any losses incurred by the enterprise as a result of such contractor's negligence and/or willful acts or omissions arising from the contractor's entry upon such project site.

(h) In any county in which there is to be located a project, the governing authority of any public agency accepting and treating wastewater from the project may provide and sell to any public agency providing water to the project treated, reclaimed wastewater supplied for nonpotable purposes for resale by such public agency providing water to the project to any enterprise or affiliate thereof owning and/or operating the project or any portion thereof for use in the operation of the project for cooling or other exclusively nonpotable purposes. Such public agencies may enter into an agreement binding on future governing authorities thereof, for any period designated thereby, to memorialize the terms and conditions of the provision, sale and use of treated, reclaimed wastewater supplied for nonpotable purposes to the project, including, but not limited to, the rates applicable for such reclaimed wastewater supplied for nonpotable purposes.

(8) The powers and authority granted in this section are an additional, alternative and supplemental method for doing the things authorized by this section and are additional and supplemental to, and not in derogation of, any other powers conferred by law.
Miss. Code Ann. § 57-69-5 — MS Code / Title 57 / Chapter 63 / Section 69-5
Miss. Code Ann. § 57-69-5
Status: in_force

(1) There is hereby created the Office of Minority Business Enterprises of the Mississippi Development Authority under the Mississippi Development Authority. The Executive Director of the Mississippi Development Authority shall appoint an executive director for the office. The executive director may employ a staff subject to approval of the Executive Director of the Mississippi Development Authority as necessary to carry out the purposes of this office.

(2) The office shall perform the following:

(a) Develop, plan and implement programs to provide an opportunity for participation by qualified minority owned businesses in public works and the process by which goods and services are procured by state agencies and educational institutions from the private sector;

(b) Develop a comprehensive plan encouraging that qualified minority owned businesses are provided an opportunity to participate in public contracts for public works and commodities and services;

(c) Identify barriers to equal participation by qualified minority owned businesses in all state agency and educational institution contracts;

(d) Develop and maintain a central minority business enterprise certification list for all state agencies and educational institutions;

(e) Adopt rules for the implementation of this chapter;

(f) Develop and maintain a central minority business enterprise certification program;

(g) Develop and maintain a central minority business enterprise supplier certification program;

(h) Submit an annual report to the Governor and the Legislature outlining the progress and economic impact on the public and private sectors of implementing this chapter;

(i) Increase efforts to inform minority businesses of state government procurement procedures and policies;

(j) Serve as the principal advocate in the state on behalf of minority business enterprises and minority business enterprise suppliers and provide advice in the consideration of administrative requirements and legislation that affect minority business enterprises and minority business enterprise suppliers;

(k) Evaluate the effectiveness of efforts of state agencies and other entities to assist minority business enterprises and minority business enterprise suppliers and make appropriate recommendations to assist the development and strengthening of minority business enterprises and minority business enterprise suppliers;

(l) Determine the availability of financial and other resources to minority business enterprises and minority business enterprise suppliers and recommend methods for:

(i) Increasing the availability of equity capital and other forms of financial assistance to minority business enterprises and minority business enterprise suppliers;

(ii) Generating markets for the goods and services of minority business enterprises and minority business enterprise suppliers;

(iii) Providing more effective education, training and management and technical assistance to minority business enterprises and minority business enterprise suppliers; and

(iv) Providing assistance to minority business enterprises and minority business enterprise suppliers in complying with federal, state and local laws;

(m) Serve as a focal point for receiving complaints and suggestions concerning state government policies and activities that affect minority business enterprises and minority business enterprise suppliers;

(n) Develop and advocate proposals for changes in state policies and activities that adversely affect minority business enterprises and minority business enterprise suppliers;

(o) Provide to legislative committees and state agencies information on the effects of proposed policies or actions that affect minority business enterprises and minority business enterprise suppliers;

(p) Enlist the assistance of public and private agencies, businesses and other organizations in disseminating information about state programs and services that benefit minority business enterprises and minority business enterprise suppliers and information regarding means by which minority business enterprises and minority business enterprise suppliers can use those programs and services;

(q) Identify sources of financial assistance for minority business enterprises, match minority business enterprises and minority business enterprise suppliers with sources of financial assistance, and assist minority business enterprises and minority business enterprise suppliers with the preparation of applications for loans from governmental or private sources;

(r) Sponsor meetings, to the extent practicable in cooperation with public and private educational institutions, to provide training and disseminate information beneficial to minority business enterprises and minority business enterprise suppliers;

(s) Assist minority business enterprises and minority business enterprise suppliers in their dealings with federal, state and local governmental agencies and provide information regarding governmental requirements affecting minority business enterprises and minority business enterprise suppliers;

(t) Develop and implement programs to encourage governmental agencies, public sector business associations and other organizations to provide useful services to minority business enterprises and minority business enterprise suppliers;

(u) Use available resources within the state, such as minority business enterprise development centers, educational institutions and nonprofit associations, to coordinate the provision of management and technical assistance to minority business enterprises and minority business enterprise suppliers in a systematic manner;

(v) Publish newsletters, brochures and other documents containing information useful to minority business enterprises and minority business enterprise suppliers;

(w) Identify successful minority business enterprise assistance programs provided by other states and determine the feasibility of adapting those programs for implementation in Mississippi;

(x) Establish an outreach program to make the existence of the office known to minority business enterprises, minority business enterprise suppliers and potential clients throughout the state; and

(y) Identify potential business opportunities for minority business enterprises and minority business enterprise suppliers and develop programs to maximize those opportunities.