Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 99 - MISSISSIPPI MAJOR ECONOMIC IMPACT WITHHOLDING REBATE INCENTIVE PROGRAM (§§ 57-99-1 — 57-99-29) › QUALIFIED BUSINESS OR INDUSTRY - COMPANIES AND THEIR AFFILIATES (§§ 57-99-1 — 57-99-9) › Section 57-99-1 - Definitions

As used in Sections
57-99-1
through
57-99-9
, the following words and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:
(a)
"Qualified business or industry" means any company and affiliates thereof, pursuant to rules and regulations of the MDA, which is:
(i)
A project that has been certified by the MMEIA as a project defined in Section
57-75-5(f)(xxi)
and creates at least one thousand five hundred (1,500) jobs within sixty (60) months of the beginning of the project;
(ii)
A project that has been certified by the MMEIA as a project defined in Section
57-75-5(f)(xxii)
and creates at least five hundred (500) jobs within seventy-two (72) months of the beginning of the project;
(iii)
A project:
1.
That has been certified by the MMEIA as a project defined in Section
57-75-5(f)(xxviii)
;
2.
Creates at least twenty-five (25) jobs within sixty (60) months of the beginning of the project; and
3.
In which the average annual wages and taxable benefits of the jobs created by such project are at least one hundred ten percent (110%) of the most recently published average annual wage of the state or the most recently published average annual wage of the county in which the project is located, as determined by the Mississippi Department of Employment Security, whichever is the lesser; or
(iv)
A project:
1.
That has been certified by the MMEIA as a project defined in Section
57-75-5(f)(xxix)
;
2.
That creates at least twenty-five (25) jobs within sixty (60) months following the date required by the MMEIA and prescribed by written agreement between the MMEIA and the enterprise establishing the project described in item 1 of this subparagraph (iv); and
3.
In which the average annual wages of the jobs created by such project are at least one hundred ten percent (110%) of the most recently published average annual wage of the state, as determined by the Mississippi Department of Employment Security.
(b)
"Qualified job" means full-time employment in this state within the project site of a qualified business or industry that has qualified to receive an incentive payment pursuant to Sections
57-99-1
through
57-99-9
, which employment did not exist in this state before the date of approval by the MDA of the application of the qualified business or industry pursuant to the provisions of Sections
57-99-1
through
57-99-9
. "Qualified job" also shall include full-time employment in this state of employees who are employed by an entity other than the establishment that has qualified to receive an incentive payment such as employees who are leased to and managed by the qualified business or industry, if such employment did not exist in this state before the date of approval by the MDA of the application of the establishment; provided, however, that in order for a qualified business or industry to receive incentive payments for such employees, the actual employer of the employees must agree to such payments being made to the qualified business or industry.
(c)
"Full-time employment" means a job of at least thirty-five (35) hours per week.
(d)
"Rebate amount" means the amount of Mississippi income taxes withheld from employees in qualified jobs that is available for rebate to the qualified business or industry, provided that:
(i)
Except as otherwise provided in this paragraph (d), the rebate amount shall be three and one-half percent (3-1/2%) of the wages and taxable benefits for qualified jobs; and
(ii)
Except as otherwise provided in Section
57-99-3(5)
, in no event shall incentive payments exceed the actual Mississippi income taxes withheld from employees in qualified jobs that are available for rebate to the qualified business or industry.
(e)
"MDA" means the Mississippi Development Authority.
(f)
"MMEIA" means the Mississippi Major Economic Impact Authority.
Laws, 2007, ch. 303, § 17; Laws, 2007, 1st Ex Sess, ch. 1, § 14, eff. 5/11/2007.
Amended by Laws, 2022, ch. 462, SB 2159,§ 22, eff. 7/1/2022.
Amended by Laws, 2016EX1, ch. 1, HB 1,§ 8, eff. 2/8/2016.
Amended by Laws, 2013EX1, ch. 1, HB 1,§ 7, eff. 4/28/2013.