reglab/housing_qa huggingface dataset:
MS Code § 57-75-13 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-13. Powers and duties of Board of Trustees of State Institutions of Higher Learning

 The Board of Trustees of State Institutions of Higher Learning is hereby authorized to support the project by creating institutes and developing curricula of direct benefit to the enterprise. Upon notification to the authority by the enterprise that the state has been selected as the site of the project, the Board of Trustees of State Institutions of Higher Learning may establish and create programs to enhance the project's success.
MS Code § 57-75-19 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-19. Approval by county, municipality and/or school district for development of project or facility

 The authority shall not undertake to develop any project or facility related to the project within a county, municipality and/or school district without the concurrence of the affected county, municipality and/or school district.
MS Code § 57-75-22 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-22. Highway projects constructed or improved for certain projects under this chapter to be under jurisdiction of Mississippi Transportation Commission

 Any highways or highway segments constructed or improved by the Mississippi Department of Transportation under the provisions of this chapter for a project as defined in Section 57-75-5(f)(iv) shall become a state highway and shall be placed under the jurisdiction of the Mississippi Transportation Commission for construction and maintenance.
MS Code § 57-75-23 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-23. Construction of act

 The provisions of this act are cumulative of other statutes now or hereafter enacted relating to the authority, and the authority may exercise all presently held powers in the furtherance of this act. If any section, paragraph, sentence, clause, phrase or any part of the provisions of this act is declared to be unconstitutional or void, or for any reason is declared to be invalid or of no effect, the remaining sections, paragraphs, sentences, clauses and phrases shall in no manner be affected thereby but shall remain in full force and effect.
MS Code § 57-75-25 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-25. Derivation of income from issuance of bonds by certain persons

 No member of the Legislature, elected official or appointed official, or any partner or associate of any member of the Legislature, elected official or appointed official, shall derive any income from the issuance of any bonds under this act contrary to the provisions of Section 109, Mississippi Constitution of 1890, or Article 3, Chapter 4, Title 25, Mississippi Code of 1972.
MS Code § 57-75-27 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-27. Provision of buffer zone for NASA facility in Tishomingo County

 Notwithstanding any provision of Chapter 61, Title 57, Mississippi Code of 1972, to the contrary, the Mississippi Major Economic Impact Authority shall certify to the Department of Economic and Community Development the amount of money necessary for the Major Economic Impact Authority to purchase land in fee simple to provide a buffer zone for the National Aeronautics and Space Administration facility to be constructed in Tishomingo County, which amount shall not be more than Seven Million Dollars ($7,000,000.00); and the department shall, if funds have not otherwise been made available, provide a grant to the authority for such amount out of the proceeds of bonds issued under the Mississippi Business Investment Act. Any funds remaining unexpended after the purchase of land hereunder shall be deposited in the Mississippi Business Investment Sinking Fund. No funds in excess of the amount authorized in this section shall be expended pursuant to the Mississippi Business Investment Act for or in connection with the National Aeronautics and Space Administration facility to be constructed in Tishomingo County.
MS Code § 57-75-33 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-33. Counties and municipalities authorized to enter into agreements with enterprises operating certain projects, providing that no taxes, fees or assessments will be levied upon the enterprise other than those generally levied upon all taxpayers; counties and municipalities authorized to enter into fee in lieu of ad valorem taxes agreements

 The board of supervisors of a county or the governing authorities of a municipality may each enter into an agreement with an enterprise operating a project as defined in Section 57-75-5(f)(iv)1, Section 57-75-5(f)(xxi), Section 57-75-5(f)(xxii), Section 57-75-5(f)(xxviii) or Section 57-75-5(f)(xxix), providing that the county or municipality will not levy any taxes, fees or assessments upon the enterprise other than taxes, fees or assessments that are generally levied upon all taxpayers, or all other taxpayers in the taxing districts in which such project is located, and the board of supervisors or the governing authorities also may each enter into a fee-in-lieu agreement as provided in Section 27-31-104 and/or Section 27-31-105(2). Such agreements may be for a period not to exceed thirty (30) years, except that any fee-in-lieu agreement entered into under this section and Section 27-31-104 and/or Section 27-31-105(2) shall become effective upon its execution by the enterprise and the county board of supervisors and/or municipal governing authorities, as the case may be, in accordance with Section 27-31-104, and continue in effect until all fee-in-lieu periods granted thereunder have expired; however, the period during which any fee-in-lieu may be granted under this section shall not exceed thirty (30) years, and no particular parcel of land, real property improvement or item of personal property shall be subject to a fee-in-lieu for a duration of more than ten (10) years.
MS Code § 57-75-35 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 75 - Mississippi Major Economic Impact Act|§ 57-75-35. Counties and municipalities authorized to enter into agreements with enterprises operating certain projects, providing that a county or municipality will approve requests for exemption from ad valorem taxes by supplier

 The board of supervisors of a county or the governing authorities of a municipality may enter into an agreement with an enterprise operating a project as defined in Section 57-75-5(f)(iv)1, Section 57-75-5(f)(xxi) or 57-75-5 (f)(xxii), providing that the board of supervisors or governing authorities will agree in advance to approve any request for exemption from ad valorem taxes submitted by a supplier of such enterprise in the manner provided by law and that any such exemption shall be for a period of ten (10) years. Such an agreement on the part of the board of supervisors or governing authorities may be for a period not to exceed twenty (20) years.
MS Code § 57-77-1 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-1. Short title

 This chapter shall be known, and may be cited, as the "Venture Capital Act of 1994."
MS Code § 57-77-2 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-2. Legislative intent

 The Legislature finds that the Venture Capital Act of 1994, Sections 57-77-1 through 57-77-39, Mississippi Code of 1972, has not been implemented in accordance with the legislative intent. The Legislature finds that the Venture Capital Act of 1994 needs to be amended for the purpose of clarifying the legislative intent and for the further purpose of ensuring public trust in the venture capital loan program by providing safeguards in the operation of the program and over the proper administration of the use of public funds. The Legislature finds that persons are purporting to serve on the Magnolia Capital Corporation Board of Directors and the Magnolia Venture Capital Corporation Board of Directors in violation of the legislative intent of the Venture Capital Act of 1994. Pursuant to Section 178 of the Mississippi Constitution of 1890, the Legislature finds that it is in the public interest to amend the charters of incorporation of the Magnolia Capital Corporation and the Magnolia Venture Capital Corporation which were authorized to be formed under the provisions of the Venture Capital Act of 1994, and the amendments made to Sections 57-77-9 and 57-77-11 by Chapter 563, Laws of 1998, shall be amendments to the charters of incorporation of the Magnolia Capital Corporation and the Magnolia Venture Capital Corporation.
MS Code § 57-77-3 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-3. Purpose of chapter; entities as instrumentalities of the state; sovereign immunity

 It is the purpose of this chapter to establish the Magnolia Capital Corporation, the Magnolia Venture Capital Corporation and the Magnolia Venture Capital Fund Limited Partnership for the purposes of increasing the rate of capital formation; stimulating new growth-oriented business formations; creating new jobs for Mississippi; developing new technology; enhancing tax revenue for the state; and supplementing conventional business financing. The Magnolia Capital Corporation, the Magnolia Venture Capital Corporation, and the Magnolia Venture Capital Fund Limited Partnership shall be instrumentalities of the State of Mississippi and their operations and activities shall be subject to review by the State Auditor of Public Accounts, the Attorney General of Mississippi, the Mississippi Ethics Commission, the Joint Legislative Committee on Performance Evaluation and Expenditure Review, and any other state officer or agency as provided by law. Funds obtained from the special fund in the State Treasury known as the Venture Capital Fund and any earnings on such amounts, which are held and disbursed by the Magnolia Capital Corporation, the Magnolia Venture Capital Corporation and/or the Magnolia Venture Capital Fund Limited Partnership, except funds invested by private limited partners, shall remain, and shall be considered to be, public funds. Funds loaned by the department pursuant to Section 57-77-17, and all earnings on such funds shall remain, and shall be considered to be, public funds. Except as provided in Section 57-77-33(7), it is, and has always been, the intent of the Legislature that nothing in this chapter shall be construed to waive the sovereign immunity of the State of Mississippi or the department pursuant to either state law or the Eleventh Amendment to the United States Constitution. It is, and has always been, the intent of the Legislature that no action by the State of Mississippi or by the department, or by any officer or agent of the State of Mississippi or of the department, shall be considered a waiver of the sovereign immunity of the State of Mississippi or the department pursuant to either state law or the Eleventh Amendment to the United States Constitution. It is, and has always been, the intent of the Legislature that the entering into of any contract, loan agreement, pledge agreement, or other instrument by the State of Mississippi or the department shall not be considered a waiver of the sovereign immunity of the State of Mississippi pursuant to either state law or the Eleventh Amendment to the United States Constitution. It is, and has always been, the intent of the Legislature that the sovereign immunity of the State of Mississippi pursuant to either state law or the Eleventh Amendment to the United States Constitution may only be waived by express authorization set forth in an enactment of the Mississippi Legislature.
MS Code § 57-77-5 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-5. Definitions

 The following words shall have the meaning ascribed herein unless the context clearly requires otherwise:   "Fund" means the Magnolia Venture Capital Fund Limited Partnership, a limited partnership, established and operated as described in this chapter.   "Corporation" means the Magnolia Capital Corporation.   "Qualified investment" means a qualified interest, which interest is purchased solely for cash in an amount not less than Ten Thousand Dollars ($10,000.00) for individuals; and not less than Fifty Thousand Dollars ($50,000.00) for corporations.   "General partner" means the Magnolia Venture Capital Corporation.   "Qualified interest" means, in the case of the Magnolia Venture Capital Corporation, a general partnership interest in the fund and, in the case of all other persons, a limited partnership interest in the fund.   "State tax liability" means a taxpayer's total income tax liability that is incurred under the Mississippi Income Tax Law before applying the credits provided by Section 27-7-22.11.   "Taxpayer" means any individual, corporation, partnership, trust or other entity that has any state tax liability and has made a qualified investment.   "Venture capital" means investments in either common stock, preferred stock, or bonds convertible to either common or preferred stock, or options, warrants or rights to receive any of the foregoing, or any other similar investment in or loan to a Mississippi business.   "Mississippi business" means a corporation, general partnership, limited partnership, joint venture, trust, proprietorship or any other similar entity or organization which is either established and operating, or will be established to operate, in Mississippi.   "Start-up business" means a Mississippi business which is in the first thirty-six (36) months of providing goods or services in the ordinary course of business or a Mississippi business which qualified as a start-up business under this definition at the time it entered the venture capital fund portfolio.   "Program" means the venture capital loan program established in this chapter.   "Seller" means the State Bond Commission.   "Department" means the Mississippi Department of Economic and Community Development.   "General Fund" means the General Fund of the State of Mississippi.   "Loan" means a loan by the department to Magnolia Capital Corporation in accordance with this chapter.   "Appointing authority" means the Governor or the Lieutenant Governor, as appropriate, in appointing members to the board of directors of the Magnolia Venture Capital Corporation.
MS Code § 57-77-7 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-7. Taxpayer entitlement to credit against state tax liability

 A taxpayer is entitled to a credit, determined in accordance with Section 27-7-22.11, which must be applied against the state tax liability which may be imposed on the taxpayer.
MS Code § 57-77-13 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-13. Exemption from taxation and license fees of Magnolia Venture Capital Corporation

 Magnolia Venture Capital Corporation, but not the shareholders thereof, is exempt from all state income taxes and corporate license fees.
MS Code § 57-77-15 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-15. Magnolia Capital Corporation to apply to department for loan

 The Magnolia Capital Corporation shall make application for a loan to the department in a form satisfactory to the department.
MS Code § 57-77-17 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-17. Terms and conditions of loan to Magnolia Capital Corporation

 The department shall lend funds under this chapter to Magnolia Capital Corporation in accordance with the following terms and conditions:   Loan funds received by Magnolia Capital Corporation in accordance with this chapter shall remain, and shall be considered to be, public funds and shall be used for the purpose of providing venture capital to Mississippi businesses through the Mississippi Venture Capital Fund Limited Partnership;   The loan agreement between the department and Magnolia Capital Corporation shall contain language necessary to effect the escrow of a portion of the loan in an account for the benefit of the department which, when the monies are invested in zero coupon bonds for a period not to exceed fifteen (15) years, shall mature at a value equal to or greater than one hundred percent (100%) of the total principal amount loaned to Magnolia Venture Capital Corporation;   The interest rate on the loan to Magnolia Capital Corporation shall be set by the executive director of the department; and   Funds received by the Magnolia Venture Capital Corporation and/or the Magnolia Venture Capital Fund Limited Partnership shall be subject to any loan agreement made between the department and the Magnolia Capital Corporation pursuant to this chapter; and, in the event of default on such loan agreement, such funds shall, upon demand of the department, be returned to the Venture Capital Fund in the State Treasury, regardless of whether or not the Magnolia Venture Capital Corporation or the Magnolia Venture Capital Fund Limited Partnership was a party to any loan agreement evidencing any such loan.
MS Code § 57-77-19 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-19. Assistance of Magnolia Capital Corporation with program compliance

 The department shall assist the Magnolia Capital Corporation with such corporation's compliance with the program provided for in this chapter.
MS Code § 57-77-21 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-21. Reports by Magnolia Capital Corporation

 Magnolia Capital Corporation shall submit the following reports to the department:   An annual audit of loan funds received in connection with the program;   Quarterly reports describing all venture capital assistance provided to businesses by Magnolia Venture Capital Corporation and the fund, such reports to include at least the following: a description of the business receiving assistance, the project to be assisted and the purpose of such assistance; a description of each loan and equity investment, including the terms and conditions thereof and use of the venture fund's assistance by the business; history of the assistance pool, including amounts expended for administration and management, principal amount of equity investments, losses, loans and other relevant data.
MS Code § 57-77-23 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-23. Authority of corporations to engage professional services

 Subject to the provisions of this section, Magnolia Capital Corporation and Magnolia Venture Capital Corporation are hereby authorized to engage legal counsel, accountants, financial advisors, appraisers, consultants and others as needed in connection with providing venture capital to businesses pursuant to this chapter, and to charge the costs of these services to the businesses receiving such assistance or charge the proceeds of such assistance therefor. However, no such professional services may be engaged unless done so through action taken by a validly appointed board of directors having the legal authority to engage such services. To the extent required by the department, such professional services shall be engaged on a statewide program basis.
MS Code § 57-77-25 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-25. Adoption of eligibility criteria, timetable and report forms governing Magnolia Capital Corporation participation in venture capital loan program; adoption of applications, forms, procedures and requirements by Magnolia Venture Capital Corporation

  The department shall adopt and publish the eligibility criteria for Magnolia Capital Corporation to participate in the program as set forth in this chapter, a timetable and process for review of applications from Magnolia Capital Corporation, and program report forms, all in accordance with this chapter; provided, however, that Magnolia Venture Capital Corporation shall recommend to Magnolia Capital Corporation the approval of assistance under this chapter, and Magnolia Capital Corporation shall have sole authority over the approval of assistance provided under this chapter, and Magnolia Venture Capital Corporation shall have sole authority over the management of the assistance provided under this chapter.   Magnolia Venture Capital Corporation shall prepare and adopt such uniform applications, forms, procedures and requirements for use in connection with the program as it deems necessary and appropriate.
MS Code § 57-77-27 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 77 - Venture Capital Act of 1994|§ 57-77-27. Certification of nondiscrimination as condition to assistance to business

 No assistance shall be provided to a business under this chapter unless the business certifies to the Magnolia Venture Capital Corporation, in a form satisfactory to the department, that it will not discriminate against any employee or against any applicant for employment because of race, religion, color, national origin, sex or age.