Economic development; revise incentives relating to certain projects.

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To: Ways and Means
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Lamar

HOUSE BILL NO. 4045

AN ACT TO AMEND SECTION 27-7-30, MISSISSIPPI CODE OF 1972, TO 1
PROVIDE THAT THE INCOME TAX EXEMPTION FOR INCOME ARISING FROM 2
CERTAIN DATA CENTER PROJECTS SHALL NOT APPLY TO ANY CALENDAR YEAR 3
AFTER CALENDAR YEAR 2026; TO AMEND SECTION 57-75-5, MISSISSIPPI 4
CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM PROJECT UNDER 5
THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT; TO AMEND SECTION 6
27-31-104, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT FOR ANY 7
PROJECT WITH A CAPITAL INVESTMENT IN EXCESS OF $2,000,000,000.00 8
FOR WHICH A FEE-IN-LIEU OF AD VALOREM TAX AGREEMENT IS ENTERED 9
INTO AFTER JULY 1, 2026, A PORTION OF THE SUM ALLOWED AS A 10
FEE-IN-LIEU ON THE PORTION OF THE PROJECT IN EXCESS OF 11
$1,000,000,000.00 SHALL BE DEPOSITED INTO THE MISSISSIPPI 12
STRATEGIC DEVELOPMENT FUND CREATED IN THIS ACT; TO EXTEND THE DATE 13
OF THE REVERTER ON THE SECTION OF LAW; TO CREATE THE "MISSISSIPPI 14
STRATEGIC DEVELOPMENT FUND" AS A SPECIAL FUND IN THE STATE 15
TREASURY; TO PROVIDE THE PURPOSES FOR WHICH MONIES IN THE FUND 16
SHALL BE EXPENDED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY, UPON 17
APPROPRIATION BY THE LEGISLATURE TO BRING FORWARD SECTION 18
27-31-105, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES COUNTY 19
BOARDS OF SUPERVISORS AND MUNICIPAL AUTHORITIES TO GRANT A 20
FEE-IN-LIEU OF AD VALOREM TAXES FOR EXPANSIONS OF FACILITIES OR 21
PROPERTIES, FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO AMEND 22
SECTION 19-9-151, 19-9-153 AND 19-9-155, MISSISSIPPI CODE OF 1972, 23
TO REVISE THE DISTRIBUTION OF PAYMENTS MADE BY A NUCLEAR 24
GENERATING PLANT IN-LIEU OF AD VALOREM TAXES; TO AMEND SECTION 25
27-35-309, MISSISSIPPI CODE OF 1972, TO REVISE THE FORMULA 26
PROVIDING FOR THE ALLOCATION OF THE PROCEEDS OF THE NUCLEAR 27
IN-LIEU TAX PAID TO THE DEPARTMENT OF REVENUE BY THE GRAND GULF 28
NUCLEAR POWER PLANT; AND FOR RELATED PURPOSES. 29
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 30
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SECTION 1. Section 27-7-30, Mississippi Code of 1972, is 31
amended as follows: 32
27-7-30. (1) (a) As used in this subsection, "qualified 33
business or industry" means any company, and its affiliates, 34
that * * * have been certified by the Major Economic Impact 35
Authority as a project as defined in Section 57-75-5(f)(xxi). 36
(b) A qualified business or industry shall be exempt 37
from the tax imposed by this chapter on income arising from a 38
project as defined in Section 57-75-5(f)(xxi) only, and all other 39
income shall be subject to the tax imposed by this chapter. The 40
exemption does not apply to activities subject to Mississippi 41
income tax prior to certification of the project. 42
(c) The income tax exemption authorized by this 43
subsection shall not exceed twenty (20) years. A qualified 44
business or industry must create at least one thousand five 45
hundred (1,500) jobs prior to receiving the exemption authorized 46
by this subsection and may elect the date upon which the 47
twenty-year period will begin; however, the date may not be later 48
than sixty (60) months after the date the qualified business or 49
industry begins commercial production. 50
(d) In the event that the monthly average number of 51
full-time jobs maintained by the qualified business or industry 52
falls below one thousand five hundred (1,500) jobs, the tax 53
exemption authorized by this subsection shall be reduced as 54
follows: 55
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(i) If the monthly average number of full-time 56
jobs for a taxable year is more than one thousand four hundred 57
(1,400) but less than one thousand five hundred (1,500), the 58
amount of the exemption shall be reduced by one percent (1%) for 59
the taxable year. 60
(ii) If the monthly average number of full-time 61
jobs for a taxable year is more than one thousand one hundred 62
(1,100) but less than one thousand four hundred one (1,401), then 63
the amount of the exemption shall be reduced by twenty percent 64
(20%) for the taxable year. 65
(iii) If the monthly average number of full-time 66
jobs for the taxable year is more than eight hundred (800) but 67
less than one thousand one hundred one (1,101), then the amount of 68
the exemption shall be reduced by forty percent (40%) for the 69
taxable year. 70
(iv) If the monthly average number of full-time 71
jobs for the taxable year is more than five hundred (500) but less 72
than eight hundred one (801), then the amount of the exemption 73
shall be reduced by sixty percent (60%) for the taxable year. 74
(v) If the monthly average number of full-time 75
jobs for the taxable year is more than two hundred (200) but less 76
than five hundred one (501), then the amount of the exemption 77
shall be reduced by eighty percent (80%) for the taxable year. 78
(vi) If the monthly average number of full-time 79
jobs for the taxable year is two hundred (200) or less, the 80
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qualified business or industry shall not be eligible for the 81
exemption for the taxable year. 82
(2) (a) As used in this subsection, "qualified business or 83
industry" means any company, and its affiliates, that * * * have 84
been certified by the Major Economic Impact Authority as a project 85
as defined in Section 57-75-5(f)(xxviii). 86
(b) A qualified business or industry shall be exempt 87
from the tax imposed by this chapter on income arising from a 88
project as defined in Section 57-75-5(f)(xxviii) only, and all 89
other income shall be subject to the tax imposed by this chapter. 90
The exemption does not apply to activities subject to Mississippi 91
income tax prior to certification of the project. 92
(c) The income tax exemption authorized by this 93
subsection shall not exceed twenty (20) years unless the qualified 94
business or industry creates and maintains for a period of three 95
(3) years not less than one thousand (1,000) jobs, in which case 96
the exemption period shall be extended by five (5) years. 97
(d) In the event that the annual average number of 98
full-time jobs maintained by the qualified business or industry 99
falls below the qualified business or industry's job commitment 100
for two (2) consecutive years, the tax exemption authorized by 101
this subsection shall be suspended until the first tax year during 102
which the annual average number of full-time jobs maintained by 103
the qualified business or industry reaches the qualified business 104
or industry's job commitment. 105
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(3) (a) As used in this subsection, "qualified business or 106
industry" means any company, and its affiliates, that * * * have 107
been certified by the Major Economic Impact Authority as a project 108
as defined in Section 57-75-5(f)(xxix). 109
(b) A qualified business or industry shall be exempt 110
from the tax imposed by this chapter on income arising from a 111
project as defined in Section 57-75-5(f)(xxix) only, and all other 112
income shall be subject to the tax imposed by this chapter. The 113
exemption does not apply to activities subject to Mississippi 114
income tax prior to certification of the project. 115
(c) The income tax exemption authorized by this 116
subsection shall not exceed twenty-five (25) years. A qualified 117
business or industry must create the minimum annual number of 118
full-time jobs required by the authority pursuant to a written 119
agreement between the authority and such qualified business or 120
industry and may elect the date upon which the twenty-five-year 121
period will begin; however, the date may not be later than sixty 122
(60) months after the date the qualified business or industry 123
begins commercial production. 124
(d) In the event that the annual number of full-time 125
jobs maintained by the qualified business or industry falls below 126
the minimum annual number of full-time jobs required by the 127
authority pursuant to a written agreement between the authority 128
and such qualified business or industry for two (2) consecutive 129
years, the tax exemption authorized by this subsection shall be 130
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suspended until the first tax year during which the annual number 131
of full-time jobs maintained by the qualified business or industry 132
reaches the minimum annual number of full-time jobs required by 133
the authority pursuant to a written agreement between the 134
authority and such qualified business or industry. 135
(e) The qualified business or industry shall be 136
entitled to utilize a single sales apportionment factor in the 137
calculation of its liability for income tax imposed by this 138
chapter for any year for which it files a Mississippi income tax 139
return. The qualified business or industry shall be entitled to 140
continue to utilize such single sales apportionment factor 141
notwithstanding a suspension of the income tax exemption pursuant 142
to paragraph (d) of this subsection. 143
(4) (a) As used in this subsection, "qualified business or 144
industry" means any company, and its affiliates, that * * * have 145
been certified by the Major Economic Impact Authority as a project 146
as defined in Section 57-75-5(f)(xxx). 147
(b) A qualified business or industry shall be exempt 148
from the tax imposed by this chapter on income arising from a 149
project as defined in Section 57-75-5(f)(xxx) only, and all other 150
income shall be subject to the tax imposed by this chapter. The 151
exemption does not apply to activities subject to Mississippi 152
income tax prior to certification of the project. 153
(c) The income tax exemption authorized by this 154
subsection shall not exceed twenty (20) years. A qualified 155
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business or industry must create at least one thousand (1,000) 156
jobs prior to receiving the exemption authorized by this 157
subsection and may elect the date upon which the twenty-year 158
period will begin; however, the date may not be later than sixty 159
(60) months after the date the qualified business or industry 160
begins commercial production and in no event later than December 161
31, 2022. 162
(5) (a) As used in this subsection: 163
(i) "Affiliate" shall have the meaning ascribed to 164
such term in Section 57-75-5(k)(iii); 165
(ii) "Qualified business or industry" means any 166
company that has been certified by the Major Economic Impact 167
Authority as a project as defined in Section 57-75-5(f)(xxxii), or 168
any other company which becomes subject to the tax levied by this 169
chapter because it is an affiliate, successor or assignee of the 170
company that has been certified by the Major Economic Impact 171
Authority as a project as defined in Section 57-75-5(f)(xxxii). 172
(b) A qualified business or industry shall be exempt 173
from the tax imposed by this chapter on income arising from a 174
project as defined in Section 57-75-5(f)(xxxii) only, and all 175
other income shall be subject to the tax imposed by this chapter. 176
The exemption does not apply to activities subject to Mississippi 177
income tax prior to certification of the project. 178
(c) The income tax exemption authorized by this 179
subsection shall not exceed ten (10) years. A qualified business 180
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or industry must create the minimum annual number of full-time 181
jobs required by the authority pursuant to a written agreement 182
between the authority and such qualified business or industry and 183
may elect the date upon which the ten (10) year period will begin; 184
however, the date may not be later than twenty-four (24) months 185
after the date the qualified business or industry begins 186
commercial production, as such date shall be determined in 187
accordance with a written agreement between the authority and such 188
qualified business or industry. 189
(d) In the event that the annual number of full-time 190
jobs maintained by the qualified business or industry falls below 191
the minimum annual number of full-time jobs required by the 192
authority pursuant to a written agreement between the authority 193
and such qualified business or industry, the tax exemption 194
authorized by this subsection may be suspended by the authority 195
pursuant to such written agreement until the number of full-time 196
jobs maintained by the qualified business or industry reaches the 197
minimum number of full-time jobs required by the authority 198
pursuant to such written agreement. 199
(6) (a) As used in this subsection: 200
(i) "Affiliate" shall have the meaning ascribed to 201
such term in Section 57-75-5(k)(iv); and 202
(ii) "Qualified business or industry" means any 203
company and its affiliates operating a project that has been 204
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certified by the Major Economic Impact Authority as a project as 205
defined in Section 57-75-5(f)(xxxiii). 206
(b) Subject to the provisions of this subsection, a 207
qualified business or industry shall be exempt from the tax 208
imposed by this chapter on income arising from a project as 209
defined in Section 57-75-5(f)(xxxiii) only, and all other income 210
of the qualified business or industry shall be subject to the tax 211
imposed by this chapter unless another exemption applies to such 212
income. The exemption does not apply to activities subject to 213
Mississippi income tax prior to certification of the project. The 214
exemption authorized by this subsection shall not apply to income 215
for any calendar year after calendar year 2026. 216
(c) Subject to the provisions of this subsection, the 217
income tax exemption authorized by this subsection shall not 218
exceed ten (10) years. A qualified business or industry must 219
create the minimum annual number of full-time jobs required by the 220
authority pursuant to a written agreement between the authority 221
and such qualified business or industry and may elect the date 222
upon which the ten-year period will begin, provided that such 223
election be made in accordance with a written agreement between 224
the authority and such qualified business or industry. 225
(d) In the event that the annual number of full-time 226
jobs maintained by the qualified business or industry falls below 227
the minimum annual number of full-time jobs required by the 228
authority pursuant to a written agreement between the authority 229
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and such qualified business or industry for two (2) consecutive 230
years, the tax exemption authorized by this subsection shall be 231
suspended until the first tax year during which the annual number 232
of full-time jobs maintained by the qualified business or industry 233
reaches the minimum annual number of full-time jobs required by 234
the authority pursuant to a written agreement between the 235
authority and such qualified business or industry. 236
(7) A qualified business or industry that utilizes the 237
exemption authorized by this section shall not be eligible for the 238
credits authorized in Sections 57-73-21 through 57-73-29. 239
(8) The Mississippi Development Authority may promulgate 240
rules and regulations necessary to administer the provisions of 241
this section. 242
SECTION 2. Section 57-75-5, Mississippi Code of 1972, is 243
amended as follows: 244
57-75-5. Words and phrases used in this chapter shall have 245
meanings as follows, unless the context clearly indicates a 246
different meaning: 247
(a) "Act" means the Mississippi Major Economic Impact 248
Act as originally enacted or as hereafter amended. 249
(b) "Authority" means the Mississippi Major Economic 250
Impact Authority created pursuant to the act. 251
(c) "Bonds" means general obligation bonds, interim 252
notes and other evidences of debt of the State of Mississippi 253
issued pursuant to this chapter. 254
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(d) "Facility related to the project" means and 255
includes any of the following, as the same may pertain to the 256
project within the project area: (i) facilities to provide 257
potable and industrial water supply systems, sewage and waste 258
disposal systems and water, natural gas and electric transmission 259
systems to the site of the project; (ii) airports, airfields and 260
air terminals; (iii) rail lines; (iv) port facilities; (v) 261
highways, streets and other roadways; (vi) public school 262
buildings, classrooms and instructional facilities, training 263
facilities and equipment, including any functionally related 264
facilities; (vii) parks, outdoor recreation facilities and 265
athletic facilities; (viii) auditoriums, pavilions, campgrounds, 266
art centers, cultural centers, folklore centers and other public 267
facilities; (ix) health care facilities, public or private; and 268
(x) fire protection facilities, equipment and elevated water 269
tanks. 270
(e) "Person" means any natural person, corporation, 271
association, partnership, limited liability company, receiver, 272
trustee, guardian, executor, administrator, fiduciary, 273
governmental unit, public agency, political subdivision, or any 274
other group acting as a unit, and the plural as well as the 275
singular. 276
(f) "Project" means: 277
(i) Any industrial, commercial, research and 278
development, warehousing, distribution, transportation, 279
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processing, mining, United States government or tourism enterprise 280
together with all real property required for construction, 281
maintenance and operation of the enterprise with an initial 282
capital investment of not less than Three Hundred Million Dollars 283
($300,000,000.00) from private or United States government sources 284
together with all buildings, and other supporting land and 285
facilities, structures or improvements of whatever kind required 286
or useful for construction, maintenance and operation of the 287
enterprise; or with an initial capital investment of not less than 288
One Hundred Fifty Million Dollars ($150,000,000.00) from private 289
or United States government sources together with all buildings 290
and other supporting land and facilities, structures or 291
improvements of whatever kind required or useful for construction, 292
maintenance and operation of the enterprise and which creates at 293
least one thousand (1,000) net new full-time jobs; or which 294
creates at least one thousand (1,000) net new full-time jobs which 295
provides an average salary, excluding benefits which are not 296
subject to Mississippi income taxation, of at least one hundred 297
twenty-five percent (125%) of the most recently published average 298
annual wage of the state as determined by the Mississippi 299
Department of Employment Security. "Project" shall include any 300
addition to or expansion of an existing enterprise if such 301
addition or expansion has an initial capital investment of not 302
less than Three Hundred Million Dollars ($300,000,000.00) from 303
private or United States government sources, or has an initial 304
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capital investment of not less than One Hundred Fifty Million 305
Dollars ($150,000,000.00) from private or United States government 306
sources together with all buildings and other supporting land and 307
facilities, structures or improvements of whatever kind required 308
or useful for construction, maintenance and operation of the 309
enterprise and which creates at least one thousand (1,000) net new 310
full-time jobs; or which creates at least one thousand (1,000) net 311
new full-time jobs which * * * provide an average salary, 312
excluding benefits which are not subject to Mississippi income 313
taxation, of at least one hundred twenty-five percent (125%) of 314
the most recently published average annual wage of the state as 315
determined by the Mississippi Department of Employment Security. 316
"Project" shall also include any ancillary development or business 317
resulting from the enterprise, of which the authority is notified, 318
within three (3) years from the date that the enterprise entered 319
into commercial production, that the project area has been 320
selected as the site for the ancillary development or business. 321
(ii) 1. Any major capital project designed to 322
improve, expand or otherwise enhance any active duty or reserve 323
United States armed services bases and facilities or any major 324
Mississippi National Guard training installations, their support 325
areas or their military operations, upon designation by the 326
authority that any such base was or is at risk to be recommended 327
for closure or realignment pursuant to the Defense Base Closure 328
and Realignment Act of 1990, as amended, or other applicable 329
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federal law; or any major development project determined by the 330
authority to be necessary to acquire or improve base properties 331
and to provide employment opportunities through construction of 332
projects as defined in Section 57-3-5, which shall be located on 333
or provide direct support service or access to such military 334
installation property in the event of closure or reduction of 335
military operations at the installation. 336
2. Any major study or investigation related 337
to such a facility, installation or base, upon a determination by 338
the authority that the study or investigation is critical to the 339
expansion, retention or reuse of the facility, installation or 340
base. 341
3. Any project as defined in Section 57-3-5, 342
any business or enterprise determined to be in the furtherance of 343
the public purposes of this act as determined by the authority or 344
any facility related to such project each of which shall be, 345
directly or indirectly, related to any military base or other 346
military-related facility no longer operated by the United States 347
armed services or the Mississippi National Guard. 348
(iii) Any enterprise to be maintained, improved or 349
constructed in Tishomingo County by or for a National Aeronautics 350
and Space Administration facility in such county. 351
(iv) 1. Any major capital project with an initial 352
capital investment from private sources of not less than Seven 353
Hundred Fifty Million Dollars ($750,000,000.00) which will create 354
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at least three thousand (3,000) jobs meeting criteria established 355
by the Mississippi Development Authority. 356
2. "Project" shall also include any ancillary 357
development or business resulting from an enterprise operating a 358
project as defined in item 1 of this paragraph (f)(iv), of which 359
the authority is notified, within three (3) years from the date 360
that the enterprise entered into commercial production, that the 361
state has been selected as the site for the ancillary development 362
or business. 363
(v) Any manufacturing, processing or industrial 364
project determined by the authority, in its sole discretion, to 365
contribute uniquely and significantly to the economic growth and 366
development of the state, and which meets the following criteria: 367
1. The project shall create at least two 368
thousand (2,000) net new full-time jobs meeting criteria 369
established by the authority, which criteria shall include, but 370
not be limited to, the requirement that such jobs must be held by 371
persons eligible for employment in the United States under 372
applicable state and federal law. 373
2. The project and any facility related to 374
the project shall include a total investment from private sources 375
of not less than Sixty Million Dollars ($60,000,000.00), or from 376
any combination of sources of not less than Eighty Million Dollars 377
($80,000,000.00). 378
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(vi) Any real property owned or controlled by the 379
National Aeronautics and Space Administration, the United States 380
government, or any agency thereof, which is legally conveyed to 381
the State of Mississippi or to the State of Mississippi for the 382
benefit of the Mississippi Major Economic Impact Authority, its 383
successors and assigns pursuant to Section 212 of Public Law 384
104-99, enacted January 26, 1996 (110 Stat. 26 at 38). 385
(vii) Any major capital project related to the 386
establishment, improvement, expansion and/or other enhancement of 387
any active duty military installation and having a minimum capital 388
investment from any source or combination of sources other than 389
the State of Mississippi of at least Forty Million Dollars 390
($40,000,000.00), and which will create at least four hundred 391
(400) military installation related full-time jobs, which jobs may 392
be military jobs, civilian jobs or a combination of military and 393
civilian jobs. The authority shall require that binding 394
commitments be entered into requiring that the minimum 395
requirements for the project provided for in this subparagraph 396
shall be met not later than July 1, 2008. 397
(viii) Any major capital project with an initial 398
capital investment from any source or combination of sources of 399
not less than Ten Million Dollars ($10,000,000.00) which will 400
create at least eighty (80) full-time jobs which provide an 401
average annual salary, excluding benefits which are not subject to 402
Mississippi income taxes, of at least one hundred thirty-five 403
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percent (135%) of the most recently published average annual wage 404
of the state or the most recently published average annual wage of 405
the county in which the project is located as determined by the 406
Mississippi Department of Employment Security, whichever is the 407
lesser. The authority shall require that binding commitments be 408
entered into requiring that: 409
1. The minimum requirements for the project 410
provided for in this subparagraph shall be met; and 411
2. That if such commitments are not met, all 412
or a portion of the funds provided by the state for the project as 413
determined by the authority shall be repaid. 414
(ix) Any regional retail shopping mall with an 415
initial capital investment from private sources in excess of One 416
Hundred Fifty Million Dollars ($150,000,000.00), with a square 417
footage in excess of eight hundred thousand (800,000) square feet, 418
which will create at least seven hundred (700) full-time jobs with 419
an average hourly wage of Eleven Dollars ($11.00) per hour. The 420
authority shall require that binding commitments be entered into 421
requiring that: 422
1. The minimum requirements for the project 423
provided for in this subparagraph shall be met; and 424
2. That if such commitments are not met, all 425
or a portion of the funds provided by the state for the project as 426
determined by the authority shall be repaid. 427
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(x) Any major capital project with an initial 428
capital investment from any source or combination of sources of 429
not less than Seventy-five Million Dollars ($75,000,000.00) which 430
will create at least one hundred twenty-five (125) full-time jobs 431
which provide an average annual salary, excluding benefits which 432
are not subject to Mississippi income taxes, of at least one 433
hundred thirty-five percent (135%) of the most recently published 434
average annual wage of the state or the most recently published 435
average annual wage of the county in which the project is located 436
as determined by the Mississippi Department of Employment 437
Security, whichever is the greater. The authority shall require 438
that binding commitments be entered into requiring that: 439
1. The minimum requirements for the project 440
provided for in this subparagraph shall be met; and 441
2. That if such commitments are not met, all 442
or a portion of the funds provided by the state for the project as 443
determined by the authority shall be repaid. 444
(xi) Any potential major capital project that the 445
authority has determined is feasible to recruit. 446
(xii) Any project built according to the 447
specifications and federal provisions set forth by the National 448
Aeronautics and Space Administration Center Operations Directorate 449
at Stennis Space Center for the purpose of consolidating common 450
services from National Aeronautics and Space Administration 451
centers in human resources, procurement, financial management and 452
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information technology located on land owned or controlled by the 453
National Aeronautics and Space Administration, which will create 454
at least four hundred seventy (470) full-time jobs. 455
(xiii) Any major capital project with an initial 456
capital investment from any source or combination of sources of 457
not less than Ten Million Dollars ($10,000,000.00) which will 458
create at least two hundred fifty (250) full-time jobs. The 459
authority shall require that binding commitments be entered into 460
requiring that: 461
1. The minimum requirements for the project 462
provided for in this subparagraph shall be met; and 463
2. That if such commitments are not met, all 464
or a portion of the funds provided by the state for the project as 465
determined by the authority shall be repaid. 466
(xiv) Any major pharmaceutical facility with a 467
capital investment of not less than Fifty Million Dollars 468
($50,000,000.00) made after July 1, 2002, through four (4) years 469
after the initial date of any loan or grant made by the authority 470
for such project, which will maintain at least seven hundred fifty 471
(750) full-time employees. The authority shall require that 472
binding commitments be entered into requiring that: 473
1. The minimum requirements for the project 474
provided for in this subparagraph shall be met; and 475
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2. That if such commitments are not met, all 476
or a portion of the funds provided by the state for the project as 477
determined by the authority shall be repaid. 478
(xv) Any pharmaceutical manufacturing, packaging 479
and distribution facility with an initial capital investment from 480
any local or federal sources of not less than Five Hundred 481
Thousand Dollars ($500,000.00) which will create at least ninety 482
(90) full-time jobs. The authority shall require that binding 483
commitments be entered into requiring that: 484
1. The minimum requirements for the project 485
provided for in this subparagraph shall be met; and 486
2. That if such commitments are not met, all 487
or a portion of the funds provided by the state for the project as 488
determined by the authority shall be repaid. 489
(xvi) Any major industrial wood processing 490
facility with an initial capital investment of not less than One 491
Hundred Million Dollars ($100,000,000.00) which will create at 492
least one hundred twenty-five (125) full-time jobs which provide 493
an average annual salary, excluding benefits which are not subject 494
to Mississippi income taxes, of at least Thirty Thousand Dollars 495
($30,000.00). The authority shall require that binding 496
commitments be entered into requiring that: 497
1. The minimum requirements for the project 498
provided for in this subparagraph shall be met; and 499
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2. That if such commitments are not met, all 500
or a portion of the funds provided by the state for the project as 501
determined by the authority shall be repaid. 502
(xvii) Any technical, engineering, 503
manufacturing-logistic service provider with an initial capital 504
investment of not less than One Million Dollars ($1,000,000.00) 505
which will create at least ninety (90) full-time jobs. The 506
authority shall require that binding commitments be entered into 507
requiring that: 508
1. The minimum requirements for the project 509
provided for in this subparagraph shall be met; and 510
2. That if such commitments are not met, all 511
or a portion of the funds provided by the state for the project as 512
determined by the authority shall be repaid. 513
(xviii) Any major capital project with an initial 514
capital investment from any source or combination of sources other 515
than the State of Mississippi of not less than Six Hundred Million 516
Dollars ($600,000,000.00) which will create at least four hundred 517
fifty (450) full-time jobs with an average annual salary, 518
excluding benefits which are not subject to Mississippi income 519
taxes, of at least Seventy Thousand Dollars ($70,000.00). The 520
authority shall require that binding commitments be entered into 521
requiring that: 522
1. The minimum requirements for the project 523
provided for in this subparagraph shall be met; and 524
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2. That if such commitments are not met, all 525
or a portion of the funds provided by the state for the project as 526
determined by the authority shall be repaid. 527
(xix) Any major coal and/or petroleum coke 528
gasification project with an initial capital investment from any 529
source or combination of sources other than the State of 530
Mississippi of not less than Eight Hundred Million Dollars 531
($800,000,000.00), which will create at least two hundred (200) 532
full-time jobs with an average annual salary, excluding benefits 533
which are not subject to Mississippi income taxes, of at least 534
Forty-five Thousand Dollars ($45,000.00). The authority shall 535
require that binding commitments be entered into requiring that: 536
1. The minimum requirements for the project 537
provided for in this subparagraph shall be met; and 538
2. That if such commitments are not met, all 539
or a portion of the funds provided by the state for the project as 540
determined by the authority shall be repaid. 541
(xx) Any planned mixed use development located on 542
not less than four thousand (4,000) acres of land that will 543
consist of commercial, recreational, resort, tourism and 544
residential development with a capital investment from private 545
sources of not less than Four Hundred Seventy-five Million Dollars 546
($475,000,000.00) in the aggregate in any one (1) or any 547
combination of tourism projects that will create at least three 548
thousand five hundred (3,500) jobs in the aggregate. For the 549
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purposes of this paragraph (f)(xx), the term "tourism project" 550
means and has the same definition as that term has in Section 551
57-28-1. In order to meet the minimum capital investment required 552
under this paragraph (f)(xx), at least Two Hundred Thirty-seven 553
Million Five Hundred Thousand Dollars ($237,500,000.00) of such 554
investment must be made not later than June 1, 2015, and the 555
remainder of the minimum capital investment must be made not later 556
than June 1, 2017. In order to meet the minimum number of jobs 557
required to be created under this paragraph (f)(xx), at least one 558
thousand seven hundred fifty (1,750) of such jobs must be created 559
not later than June 1, 2015, and the remainder of the jobs must be 560
created not later than June 1, 2017. The authority shall require 561
that binding commitments be entered into requiring that: 562
1. The minimum requirements for the project 563
provided for in this subparagraph shall be met; and 564
2. That if such commitments are not met, all 565
or a portion of the funds provided by the state for the project as 566
determined by the authority shall be repaid. 567
(xxi) Any enterprise owning or operating an 568
automotive manufacturing and assembly plant and its affiliates for 569
which construction begins after March 2, 2007, and not later than 570
December 1, 2007, with an initial capital investment from private 571
sources of not less than Five Hundred Million Dollars 572
($500,000,000.00) which will create at least one thousand five 573
hundred (1,500) jobs meeting criteria established by the 574
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authority, which criteria shall include, but not be limited to, 575
the requirement that such jobs must be held by persons eligible 576
for employment in the United States under applicable state and 577
federal law. The authority shall require that binding commitments 578
be entered into requiring that: 579
1. The minimum requirements for the project 580
provided for in this subparagraph shall be met; and 581
2. That if such commitments are not met, all 582
or a portion of the funds provided by the state for the project as 583
determined by the authority shall be repaid. 584
(xxii) Any enterprise owning or operating a major 585
powertrain component manufacturing and assembly plant for which 586
construction begins after May 11, 2007, and not later than 587
December 1, 2007, with an initial capital investment from private 588
sources of not less than Three Hundred Million Dollars 589
($300,000,000.00) which will create at least five hundred (500) 590
new full-time jobs meeting criteria established by the authority, 591
which criteria shall include, but not be limited to, the 592
requirement that such jobs must be held by persons eligible for 593
employment in the United States under applicable state and federal 594
law, and the requirement that the average annual wages and taxable 595
benefits of such jobs shall be at least one hundred twenty-five 596
percent (125%) of the most recently published average annual wage 597
of the state or the most recently published average annual wage of 598
the county in which the project is located as determined by the 599
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Mississippi Department of Employment Security, whichever is the 600
lesser. The authority shall require that binding commitments be 601
entered into requiring that: 602
1. The minimum requirements for the project 603
provided for in this subparagraph shall be met; and 604
2. That if such commitments are not met, all 605
or a portion of the funds provided by the state for the project as 606
determined by the authority shall be repaid. 607
(xxiii) Any biological and agricultural defense 608
project operated by an agency of the government of the United 609
States with an initial capital investment of not less than Four 610
Hundred Fifty Million Dollars ($450,000,000.00) from any source 611
other than the State of Mississippi and its subdivisions, which 612
will create at least two hundred fifty (250) new full-time jobs. 613
All jobs created by the project must be held by persons eligible 614
for employment in the United States under applicable state and 615
federal law. 616
(xxiv) Any enterprise owning or operating an 617
existing tire manufacturing plant which adds to such plant capital 618
assets of not less than Twenty-five Million Dollars 619
($25,000,000.00) after January 1, 2009, and that maintains at 620
least one thousand two hundred (1,200) full-time jobs in this 621
state at one (1) location with an average annual salary, excluding 622
benefits which are not subject to Mississippi income taxes, of at 623
least Forty-five Thousand Dollars ($45,000.00). The authority 624
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shall require that binding commitments be entered into requiring 625
that: 626
1. The minimum requirements for the project 627
provided for in this subparagraph shall be met; and 628
2. That if such commitments are not met, all 629
or a portion of the funds provided by the state for the project as 630
determined by the authority shall be repaid. 631
(xxv) Any enterprise owning or operating a 632
facility for the manufacture of composite components for the 633
aerospace industry which will have an investment from private 634
sources of not less than One Hundred Seventy-five Million Dollars 635
($175,000,000.00) by not later than December 31, 2015, and which 636
will result in the full-time employment at the project site of not 637
less than two hundred seventy-five (275) persons by December 31, 638
2011, and not less than four hundred twenty-five (425) persons by 639
December 31, 2013, and not less than eight hundred (800) persons 640
by December 31, 2017, all with an average annual compensation, 641
excluding benefits which are not subject to Mississippi income 642
taxes, of at least Fifty-three Thousand Dollars ($53,000.00). The 643
authority shall require that binding commitments be entered into 644
requiring that: 645
1. The minimum requirements for the project 646
provided for in this subparagraph shall be met; and 647
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2. That if such commitments are not met, all 648
or a portion of the funds provided by the state for the project as 649
determined by the authority shall be repaid. 650
(xxvi) Any enterprise owning or operating a 651
facility for the manufacture of pipe which will have an investment 652
from any source other than the State of Mississippi and its 653
subdivisions of not less than Three Hundred Million Dollars 654
($300,000,000.00) by not later than December 31, 2015, and which 655
will create at least five hundred (500) new full-time jobs within 656
five (5) years after the start of commercial production and 657
maintain such jobs for at least ten (10) years, all with an 658
average annual compensation, excluding benefits which are not 659
subject to Mississippi income taxes, of at least Thirty-two 660
Thousand Dollars ($32,000.00). The authority shall require that 661
binding commitments be entered into requiring that: 662
1. The minimum requirements for the project 663
provided for in this subparagraph shall be met; and 664
2. That if such commitments are not met, all 665
or a portion of the funds provided by the state for the project as 666
determined by the authority shall be repaid. 667
(xxvii) Any enterprise owning or operating a 668
facility for the manufacture of solar panels which will have an 669
investment from any source other than the State of Mississippi and 670
its subdivisions of not less than One Hundred Thirty-two Million 671
Dollars ($132,000,000.00) by not later than December 31, 2015, and 672
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which will create at least five hundred (500) new full-time jobs 673
within five (5) years after the start of commercial production and 674
maintain such jobs for at least ten (10) years, all with an 675
average annual compensation, excluding benefits which are not 676
subject to Mississippi income taxes, of at least Thirty-four 677
Thousand Dollars ($34,000.00). The authority shall require that 678
binding commitments be entered into requiring that: 679
1. The minimum requirements for the project 680
provided for in this subparagraph shall be met; and 681
2. That if such commitments are not met, all 682
or a portion of the funds provided by the state for the project as 683
determined by the authority shall be repaid. 684
(xxviii) 1. Any enterprise owning or operating an 685
automotive parts manufacturing plant and its affiliates for which 686
construction begins after June 1, 2013, and not later than June 687
30, 2014, with an initial capital investment of not less than 688
Three Hundred Million Dollars ($300,000,000.00) which will create 689
at least five hundred (500) new full-time jobs meeting criteria 690
established by the authority, which criteria shall include, but 691
not be limited to, the requirement that such jobs must be held by 692
persons eligible for employment in the United States under 693
applicable state and federal law, and the requirement that the 694
average annual wages and taxable benefits of such jobs shall be at 695
least one hundred ten percent (110%) of the most recently 696
published average annual wage of the state or the most recently 697
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published average annual wage of the county in which the project 698
is located as determined by the Mississippi Department of 699
Employment Security, whichever is the lesser. The authority shall 700
require that binding commitments be entered into requiring that: 701
a. The minimum requirements for the 702
project provided for in this subparagraph shall be met; and 703
b. That if such commitments are not met, 704
all or a portion of the funds provided by the state for the 705
project as determined by the authority shall be repaid. 706
2. It is anticipated that the project defined 707
in this subparagraph (xxviii) will expand in three (3) additional 708
phases, will create an additional five hundred (500) full-time 709
jobs meeting the above criteria in each phase, and will invest an 710
additional Three Hundred Million Dollars ($300,000,000.00) per 711
phase. 712
(xxix) Any enterprise engaged in the manufacture 713
of tires or other related rubber or automotive products for which 714
construction of a plant begins after January 1, 2016, and is 715
substantially completed no later than December 31, 2022, and for 716
which such enterprise commits to an aggregate capital investment 717
by such enterprise and its affiliates of not less than One Billion 718
Four Hundred Fifty Million Dollars ($1,450,000,000.00) and the 719
creation thereby of at least two thousand five hundred (2,500) new 720
full-time jobs meeting criteria established by the authority, 721
which criteria shall include, but not be limited to, the 722
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requirement that such jobs must be held by persons eligible for 723
employment in the United States under applicable state and federal 724
law, and the requirement that the average annual salary or wage, 725
excluding the value of any benefits which are not subject to 726
Mississippi income tax, of such jobs shall be at least Forty 727
Thousand Dollars ($40,000.00). The authority shall require that 728
binding commitments be entered into requiring that: 729
1. Minimum requirements for investment and 730
jobs for the project shall be met; and 731
2. If such requirements are not met, all or a 732
portion of the funds provided by the state for the project may, as 733
determined by the authority, be subject to repayment by such 734
enterprise and/or its affiliates, together with any penalties or 735
damages required by the authority in connection therewith. 736
(xxx) Any enterprise owning or operating a 737
maritime fabrication and assembly facility for which construction 738
begins after February 1, 2016, and concludes not later than 739
December 31, 2018, with an initial capital investment in land, 740
buildings and equipment not less than Sixty-eight Million Dollars 741
($68,000,000.00) and will create not less than one thousand 742
(1,000) new full-time jobs meeting criteria established by the 743
authority, which criteria shall include, but not be limited to, 744
the requirement that such jobs must be held by persons eligible 745
for employment in the United States under applicable state and 746
federal law, and the requirement that the average annual 747
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compensation, excluding benefits which are not subject to 748
Mississippi income taxes, of at least Forty Thousand Dollars 749
($40,000.00). The authority shall require that binding 750
commitments be entered into requiring that: 751
1. The minimum requirements for the project 752
provided for in this subparagraph shall be met; and 753
2. If such commitments are not met, all or a 754
portion of the funds provided by the state for the project may, as 755
determined by the authority, be subject to repayment by such 756
enterprise, together with any penalties or damages required by the 757
authority in connection therewith. 758
(xxxi) Each of the projects defined in this 759
paragraph (f)(xxxi)1 and 2 that are undertaken by affiliated 760
enterprises, together with any or all of the projects defined in 761
this paragraph (f)(xxxi)3 and/or 4 if they are undertaken by the 762
same or other enterprises affiliated with those enterprises that 763
undertake projects defined in this paragraph (f)(xxxi)1 and 2: 764
1. An enterprise engaged in the manufacturing 765
and production of recycled flat-rolled aluminum or related 766
products for which construction of a recycled aluminum flat-rolled 767
mill begins after January 1, 2023, and is substantially completed 768
no later than December 31, 2026; and 769
2. An enterprise engaged in the manufacturing 770
and production of biocarbon from biomass for which construction of 771
the biocarbon manufacturing facility begins after December 1, 772
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2022, and is substantially completed no later than December 31, 773
2026; provided that such series of projects may additionally, but 774
shall not be required to, include: 775
3. Any other affiliated enterprise that 776
undertakes the development and operation of a new industrial or 777
commercial facility in the state, excluding any area or areas 778
designated by the authority in a written agreement between such 779
enterprise or any affiliate thereof, for which the construction of 780
any such facility begins after January 1, 2023, and is 781
substantially completed no later than December 31, 2029; and/or 782
4. An enterprise engaged in the development 783
and operation of port activities (e.g., the loading and unloading 784
of barges, rail cars and trucks, the storage and handling of 785
materials, and other port-related operations) in support of all or 786
any of the enterprises enumerated in this paragraph (f)(xxxi)1, 2 787
and 3, or otherwise in support of an existing electric arc furnace 788
steel mill producing flat-rolled steel and related products; and 789
for which the parent enterprise of such affiliated enterprises 790
enumerated in this paragraph (f)(xxxi)1, 2, 3 and/or 4 commits to 791
an aggregate, collective capital investment by one or more or any 792
combination of such enterprises and their affiliates, as well as 793
by any co-located customers, of not less than Two Billion Five 794
Hundred Million Dollars ($2,500,000,000.00) and the creation 795
thereby of at least one thousand (1,000) new full-time jobs 796
meeting criteria established by the authority, which criteria 797
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shall include, but not be limited to, the requirement that such 798
jobs must be held by persons eligible for employment in the United 799
States under applicable state and federal law, and the requirement 800
that the average annual salary or wage, excluding the value of any 801
benefits which are not subject to Mississippi income tax, of such 802
jobs shall be at least Ninety-three Thousand Dollars ($93,000.00). 803
The authority shall require that binding commitments be entered 804
into requiring that: 805
a. Minimum requirements for investment 806
and jobs for such affiliated projects shall be met; and 807
b. If such requirements are not 808
collectively met, all or a portion of the funds provided by the 809
state for such affiliated projects may, as determined by the 810
authority, be subject to repayment by such enterprises and/or 811
their affiliates, together with any penalties or damages required 812
by the authority in connection therewith. 813
For purposes of this paragraph (f)(xxxi), A. a co-located 814
customer shall mean a person who locates and operates any new 815
manufacturing, processing, warehousing and/or distribution 816
facility within the project area for the project defined in this 817
paragraph (f)(xxxi)1 and utilizes, directly or indirectly, in its 818
operations any aluminum or related products produced by such 819
project, and B. an affiliated enterprise or an affiliate means a 820
related business entity which shares a common direct or indirect 821
ownership with the enterprise owning or operating a project as 822
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defined in this paragraph (f)(xxxi)1, 2, 3 or 4. References in 823
the act to a project, as defined by this paragraph (f)(xxxi) shall 824
mean any one of, any combination or all of the projects as defined 825
in this paragraph (f)(xxxi)1, 2, 3 or 4. 826
(xxxii) Any enterprise engaged in the manufacture 827
and assembly of battery cells for electric commercial vehicles and 828
industrial applications, for which construction of a manufacturing 829
and assembly plant begins after January 1, 2024, and the 830
manufacturing and assembly of battery cells thereby commences on 831
or prior to December 31, 2029, and for which such enterprise 832
commits to an aggregate, collective capital investment by such 833
enterprise, one or more affiliates of such enterprise or any 834
combination of such enterprise and its affiliates, of not less 835
than One Billion Nine Hundred Million Dollars ($1,900,000,000.00) 836
and the creation by such enterprise, one or more affiliates of 837
such enterprise or any combination of such enterprise and its 838
affiliates, as well as by any other co-located project 839
participant, of at least two thousand (2,000) new full-time jobs 840
meeting criteria established by the authority, which criteria 841
shall include, but not be limited to, the requirement that such 842
jobs must be held by persons eligible for employment in the United 843
States under applicable state and federal law, and the requirement 844
that the average annual salary or wage, excluding the value of any 845
benefits which are not subject to Mississippi income tax prior to 846
January 1, 2024, of such jobs shall be at least Sixty-five 847
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Thousand Five Hundred Sixty-four Dollars ($65,564.00). The 848
authority shall require that binding commitments be entered into 849
requiring that: 850
1. Minimum requirements for investment and 851
jobs for such affiliated projects shall be met; and 852
2. If such requirements are not collectively 853
met, all or a portion of the funds provided by the state for such 854
project may, as determined by the authority, be subject to 855
repayment by such enterprise and/or its affiliates, together with 856
any penalties or damages required by the authority in connection 857
therewith. 858
For purposes of this paragraph (f)(xxxii), a co-located 859
project participant shall mean a person or business entity that, 860
pursuant to one or more contracts with an enterprise owning or 861
operating a project as defined in this paragraph (f)(xxxii) or an 862
affiliate thereof, performs within the project area one or more of 863
the following: a. storage, handling and processing services for 864
raw materials, work in process and/or finished goods inventories; 865
b. maintenance, operation and/or other servicing of equipment and 866
machinery used in the project; c. management of real and tangible 867
personal property used in the project; d. any manufacturing, 868
processing or assembly work, in each instance with respect to the 869
manufacturing and/or assembly of battery cells for electric 870
commercial vehicles or industrial applications manufactured or 871
otherwise assembled within the project area by such enterprise or 872
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an affiliate thereof; or e. the supply to such enterprise or any 873
affiliate thereof of any components, parts or materials of any 874
battery cells for electric commercial vehicles or industrial 875
applications manufactured or otherwise assembled within the 876
project area by such enterprise or any affiliate thereof. 877
(xxxiii) Any enterprise engaged in data 878
processing, for which construction of a data processing facility 879
or facilities begins after January 1, 2024, the processing of data 880
by at least one (1) data processing facility commences on or prior 881
to * * * March 31, 2028, and for which such enterprise commits to 882
an aggregate, collective capital investment by such enterprise, 883
one or more affiliates of such enterprise or any combination of 884
such enterprise and its affiliates, of not less than Ten Billion 885
Dollars ($10,000,000,000.00) and the creation by such enterprise, 886
one or more affiliates or contractors of such enterprise or any 887
combination of such enterprises and its affiliates, as well as by 888
any other co-located project participant, of at least one thousand 889
(1,000) new full-time jobs meeting criteria established by the 890
authority, which criteria shall include, but not be limited to, 891
the requirement that such jobs must be held by persons eligible 892
for employment in the United States under applicable state and 893
federal law, and the requirement that the average annual salary or 894
wage, excluding the value of any benefits which are not subject to 895
Mississippi income tax prior to January 1, 2024, of such jobs 896
shall be at least one hundred twenty-five percent (125%) of the 897
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published average annual wage of the state as determined by the 898
Mississippi Department of Employment Security. The authority 899
shall require that binding commitments be entered into requiring 900
that: 901
1. Minimum requirements for investment and 902
jobs for such affiliated projects shall be met; and 903
2. If such requirements are not collectively 904
met, all or a portion of the funds provided by the state for such 905
project may, as determined by the authority, be subject to 906
repayment by such enterprise and/or its affiliates, together with 907
any penalties or damages required by the authority in connection 908
therewith. 909
For purposes of this paragraph (f)(xxxiii), a co-located 910
project participant shall mean a person or business entity that, 911
pursuant to one or more contracts with an enterprise owning or 912
operating a project as defined in this paragraph (f)(xxxiii) or an 913
affiliate thereof, performs within the project area one or more of 914
the following: a. maintenance, operation and/or other servicing 915
of equipment and machinery used in the project; b. management of 916
real and tangible personal property used in the project; or c. the 917
supply to such enterprise or any affiliate thereof of any 918
components, parts or services within the project area by such 919
enterprise or any affiliate thereof. 920
For purposes of this paragraph (f)(xxxiii), "project" shall 921
include the construction of additional data processing facilities 922
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or the expansion of existing data processing facilities within the 923
state by the enterprise, one or more affiliates of such 924
enterprise, or any combination of such enterprise and its 925
affiliates, if such construction or expansion has a minimum 926
capital investment of Five Hundred Million Dollars 927
($500,000,000.00) and creates at least fifty (50) net new 928
full-time jobs and written notice thereof is provided to the 929
authority. 930
(g) (i) "Project area" means the project site, 931
together with any area or territory within the state lying within 932
sixty-five (65) miles of any portion of the project site whether 933
or not such area or territory be contiguous; however, for the 934
project defined in paragraph (f)(iv) and (xxxiii) of this section 935
the term "project area" means any area or territory within the 936
state. The project area shall also include all territory within a 937
county if any portion of such county lies within sixty-five (65) 938
miles of any portion of the project site. "Project site" means 939
the real property on which the principal facilities of the 940
enterprise will operate; however, for the project defined in 941
paragraph (f)(xxxiii) of this section, the term "project site" 942
means any area or territory within the state upon which an 943
enterprise constructs one or more data processing facilities. The 944
provisions of this subparagraph (i) shall not apply to a project 945
as defined in paragraph (f)(xxi) of this section. 946
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(ii) For the purposes of a project as defined in 947
paragraph (f)(xxi) of this section, the term "project area" means 948
the acreage authorized in the certificate of convenience and 949
necessity issued by the Mississippi Development Authority to a 950
regional economic development alliance under Section 57-64-1 et 951
seq. 952
(iii) For the purposes of a project as defined in 953
either paragraph (f)(xxxi)1 or paragraph (f)(xxxii) of this 954
section, the term "project area" means the acreage specified by 955
the authority in written agreement with the enterprise undertaking 956
such project and/or an affiliate thereof. 957
(h) "Public agency" means: 958
(i) Any department, board, commission, institution 959
or other agency or instrumentality of the state; 960
(ii) Any city, town, county, political 961
subdivision, school district or other district created or existing 962
under the laws of the state or any public agency of any such city, 963
town, county, political subdivision or district or any other 964
public entity created or existing under local and private 965
legislation; 966
(iii) Any department, commission, agency or 967
instrumentality of the United States of America; and 968
(iv) Any other state of the United States of 969
America which may be cooperating with respect to location of the 970
project within the state, or any agency thereof. 971
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(i) "State" means State of Mississippi. 972
(j) "Fee-in-lieu" means a negotiated fee to be paid by 973
the project in lieu of any franchise taxes imposed on the project 974
by Chapter 13, Title 27, Mississippi Code of 1972. The 975
fee-in-lieu shall not be less than Twenty-five Thousand Dollars 976
($25,000.00) annually. A fee-in-lieu may be negotiated with an 977
enterprise operating an existing project defined in paragraph 978
(f)(iv)1 of this section; however, a fee-in-lieu shall not be 979
negotiated for other existing enterprises that fall within the 980
definition of the term "project." 981
(k) (i) "Affiliate" means a subsidiary or related 982
business entity which shares a common direct or indirect ownership 983
with the enterprise owning or operating a project as defined in 984
paragraph (f)(xxi), paragraph (f)(xxviii) or paragraph (f)(xxix) 985
of this section. The subsidiary or related business must provide 986
services directly related to the core activities of the project. 987
(ii) For the purposes of a project as defined in 988
paragraph (f)(xxxi) of this section, an "affiliated enterprise" or 989
an "affiliate" means a related business entity which shares a 990
common direct or indirect ownership with the enterprise owning or 991
operating a project as defined in paragraph (f)(xxxi)1, 2, 3 or 4 992
of this section. 993
(iii) For the purposes of a project as defined in 994
paragraph (f)(xxxii) of this section, an "affiliated enterprise" 995
or an "affiliate" means a related business entity which shares a 996
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common direct or indirect ownership with the enterprise owning or 997
operating a project as defined in paragraph (f)(xxxii) of this 998
section. 999
(iv) For the purposes of a project as defined in 1000
paragraph (f)(xxxiii) of this section, an "affiliated enterprise" 1001
or an "affiliate" means a related business entity which shares a 1002
common direct or indirect ownership with the enterprise owning or 1003
operating a project as defined in paragraph (f)(xxxiii) of this 1004
section; provided, any such related business entity may be 1005
excluded from this definition pursuant to the terms of a written 1006
agreement between the authority and the enterprise owning or 1007
operating a project as defined in paragraph (f)(xxxiii) of this 1008
section. 1009
(l) "Tier One supplier" means a supplier of a project 1010
as defined in paragraph (f)(xxi) of this section that is certified 1011
by the enterprise owning the project and creates a minimum of 1012
fifty (50) new full-time jobs. 1013
SECTION 3. Section 27-31-104, Mississippi Code of 1972, is 1014
amended as follows: 1015
[Through June 30, * * * 2029, this section shall read as 1016
follows:] 1017
27-31-104. (1) (a) County boards of supervisors and 1018
municipal authorities are each hereby authorized and empowered to 1019
enter into an agreement with an enterprise granting, and pursuant 1020
to such agreement grant a fee-in-lieu of ad valorem taxes, 1021
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including ad valorem taxes levied for school purposes, for the 1022
following: 1023
(i) Projects totaling over Sixty Million Dollars 1024
($60,000,000.00) by any new enterprises enumerated in Section 1025
27-31-101; 1026
(ii) Projects by a private company (as such term 1027
is defined in Section 57-61-5) having a minimum capital investment 1028
of Sixty Million Dollars ($60,000,000.00); 1029
(iii) Projects by a qualified business (as such 1030
term is defined in Section 57-117-3) meeting minimum criteria 1031
established by the Mississippi Development Authority; 1032
(iv) Projects, in addition to those projects 1033
referenced in Section 27-31-105, totaling over Sixty Million 1034
Dollars ($60,000,000.00) by an existing enterprise that has been 1035
doing business in the county or municipality for twenty-four (24) 1036
months. For purposes of this subparagraph (iv), the term 1037
"existing enterprise" includes those enterprises enumerated in 1038
Section 27-31-101; or 1039
(v) A private company (as such term is defined in 1040
Section 57-61-5) or entity defined in Section 77-3-3(d)(i) having 1041
a minimum capital investment of One Hundred Million Dollars 1042
($100,000,000.00) from any source or combination of sources, 1043
provided that a majority of the capital investment is from private 1044
sources, when such project is located within a geographic area for 1045
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which a Presidential Disaster Declaration was issued on or after 1046
January 1, 2014. 1047
County boards of supervisors and municipal authorities may 1048
not enter into an agreement with an enterprise that is a medical 1049
cannabis establishment, as defined in Section 41-137-3 of the 1050
Mississippi Medical Cannabis Act, granting, and pursuant to such 1051
agreement grant a fee-in-lieu of ad valorem taxes. 1052
(b) A fee-in-lieu of ad valorem taxes granted in 1053
accordance with this section may include any or all tangible 1054
property, real or personal, including any leasehold interests 1055
therein but excluding automobiles and trucks operating on and over 1056
the highways of the State of Mississippi, used in connection with, 1057
or necessary to, the operation of any enterprise, private company 1058
or business described in paragraph (a) of this subsection (1), as 1059
applicable, whether or not such property is owned, leased, 1060
subleased, licensed or otherwise obtained by such enterprise, 1061
private company or business, as applicable, irrespective of the 1062
taxpayer to which any such leased property is assessed for ad 1063
valorem tax purposes. If a fee-in-lieu of ad valorem taxes is 1064
granted pursuant to this section with respect to any leasehold 1065
interest under a lease, sublease or license of tangible property 1066
used in connection with, or necessary to, the operation of an 1067
enterprise, private company or business described in paragraph (a) 1068
of this subsection (1), as applicable, the corresponding ownership 1069
interest of the owner, lessor and sublessor of such tangible 1070
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property shall similarly and automatically be exempt and subject 1071
to the fee-in-lieu granted in accordance herewith without any 1072
action being required to be taken by such owner, lessor or 1073
sublessor. 1074
(2) A county board of supervisors may enter into a 1075
fee-in-lieu agreement on behalf of the county and any county 1076
school district, and a municipality may enter into such a 1077
fee-in-lieu agreement on behalf of the municipality and any 1078
municipal school district located in the municipality; however, if 1079
the project is located outside the limits of a municipality but 1080
within the boundaries of the municipal school district, then the 1081
county board of supervisors may enter into such a fee-in-lieu 1082
agreement on behalf of the school district granting a fee-in-lieu 1083
of ad valorem taxes for school district purposes. 1084
(3) Any grant of a fee-in-lieu of ad valorem taxes shall be 1085
evidenced by a written agreement negotiated by the enterprise and 1086
the county board of supervisors and/or municipal authority, as the 1087
case may be, and given final approval by the Mississippi 1088
Development Authority as satisfying the requirements of this 1089
section. 1090
(4) (a) The minimum sum allowable as a fee-in-lieu shall 1091
not be less than one-third (1/3), or one-tenth (1/10) if the 1092
project is also a project eligible for an ad valorem tax exemption 1093
under Section 27-31-46 and a fee-in-lieu agreement is entered into 1094
before July 1, 2026, of the ad valorem levy, including ad valorem 1095
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taxes for school district purposes, and except as otherwise 1096
provided, the sum allowed shall be apportioned between the county 1097
or municipality, as appropriate, and the school districts in such 1098
amounts as may be determined by the county board of supervisors or 1099
municipal governing authority, as the case may be, however, except 1100
as otherwise provided in this section, from the sum allowed the 1101
apportionment to school districts shall not be less than the 1102
school districts' pro rata share based upon the proportion that 1103
the millage imposed for the school districts by the appropriate 1104
levying authority bears to the millage imposed by such levying 1105
authority for all other county or municipal purposes. Any 1106
fee-in-lieu agreement entered into under this section shall become 1107
a binding obligation of the parties to the agreement, be effective 1108
upon its execution by the parties and approval by the Mississippi 1109
Development Authority and, except as otherwise provided in Section 1110
17-25-23 or Section 57-75-33, or any other provision of law, 1111
continue in effect for a period not to exceed thirty (30) years 1112
commencing on the date that the fee-in-lieu granted thereunder 1113
begins in accordance with the agreement; however, no particular 1114
parcel of land, real property improvement or item of personal 1115
property shall be subject to a fee-in-lieu for a duration of more 1116
than ten (10) years. Any such agreement shall be binding, 1117
according to its terms, on future boards of supervisors of the 1118
county and/or governing authorities of a municipality, as the case 1119
may be, for the duration of the agreement. 1120
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(b) For any project with a capital investment in excess 1121
of Two Billion Dollars ($2,000,000,000.00) for which a fee-in-lieu 1122
agreement is entered into after July 1, 2026, or for which a 1123
fee-in-lieu agreement was entered into before July 1, 2026, but 1124
for which no property subject to the agreement was entered on a 1125
tax roll and liable for taxation before January 1, 2026, of the 1126
sum allowed as a fee-in-lieu on the portion of the project in 1127
excess of Two Billion Dollars ($2,000,000,000.00): (i) forty 1128
percent (40%) shall be apportioned between the county or 1129
municipality, as appropriate, and the school districts in such 1130
amounts as may be determined by the county board of supervisors or 1131
municipal governing authority, as the case may be, as provided in 1132
paragraph (a) of this subsection and (ii) sixty percent (60%) 1133
shall be deposited into the Mississippi Strategic Development Fund 1134
created in Section 4 of this act. However, for a project for 1135
which a fee-in-lieu agreement was entered into before July 1, 1136
2026, but for which no property subject to the agreement was 1137
entered on a tax roll and liable for taxation before January 1, 1138
2026, amounts remitted to the Mississippi Major Economic Impact 1139
Authority or the Mississippi Development Authority, as applicable, 1140
under subsection (10) of this section shall be credited against 1141
the state's sixty percent (60%) portion of the sum allowed as a 1142
fee-in-lieu. In addition, all capital investment for a project, 1143
regardless of ownership or other interest of any enterprise 1144
providing investment and/or ownership or other interest in 1145
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property that is part of the project and subject to a fee-in-lieu 1146
agreement, shall be considered to be part of the total aggregate 1147
capital investment for purposes of determining whether the capital 1148
investment for the project is in excess of Two Billion Dollars 1149
($2,000,000,000.00). 1150
(5) The fee-in-lieu may be a stated fraction or percentage 1151
of the ad valorem taxes otherwise payable or a stated dollar 1152
amount. If the fee is a fraction or percentage of the ad valorem 1153
tax levy, it shall be annually computed on all ad valorem taxes 1154
otherwise payable, including school taxes, as the same may vary 1155
from year to year based upon changes in the millage rate or 1156
assessed value and shall not be less than one-third (1/3) of that 1157
amount or one-tenth (1/10) of that amount if the project is also a 1158
project eligible for an ad valorem tax exemption under Section 1159
27-31-46 and a fee-in-lieu agreement is entered into before July 1160
1, 2026. If the fee is a stated dollar amount, said amount shall 1161
be the higher of the sum provided for fixed payment or (a) 1162
one-third (1/3) of the total of all ad valorem taxes otherwise 1163
payable as annually determined during each year of the fee-in-lieu 1164
or (b) if the project is also a project eligible for an ad valorem 1165
tax exemption under Section 27-31-46 and a fee-in-lieu agreement 1166
is entered into before July 1, 2026, one-tenth (1/10) of the total 1167
of all ad valorem taxes otherwise payable as annually determined 1168
during each year of the fee-in-lieu. 1169
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(6) Notwithstanding Section 27-31-111, the parties to a 1170
fee-in-lieu may agree on terms and conditions providing for the 1171
reduction, suspension, termination or reinstatement of a 1172
fee-in-lieu agreement or any fee-in-lieu period granted thereunder 1173
upon the cessation of operations by project for twelve (12) or 1174
more consecutive months or due to other conditions set forth in 1175
the agreement. 1176
(7) For a project as defined in Section 57-75-5(f)(xxi) and 1177
located in a county that is a member of a regional economic 1178
development alliance created under Section 57-64-1 et seq., the 1179
members of the regional economic development alliance may divide 1180
the sum allowed as a fee-in-lieu in a manner as determined by the 1181
alliance agreement, and the boards of supervisors of the member 1182
counties may then apportion the sum allowed between school 1183
district purposes and all other county purposes. 1184
(8) For a project as defined in Section 57-75-5(f)(xxvi), 1185
the board of supervisors of the county in which the project is 1186
located may negotiate with the school district in which the 1187
project is located and apportion to the school district an amount 1188
of the fee-in-lieu that is agreed upon in the negotiations 1189
different than the amount provided for in subsection (3) of this 1190
section. 1191
(9) For a project as defined in Section 57-75-5(f)(xxviii), 1192
the annual amount of the fee-in-lieu apportioned to the county 1193
shall not be less than the amount necessary to pay the debt 1194
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service on bonds issued by the county pursuant to Section 1195
57-75-37(3)(c). 1196
(10) For any county and/or municipality that enters into a 1197
fee-in-lieu agreement for a project as defined in Section 1198
57-75-5(f)(xxxiii), the minimum sum allowable as a fee-in-lieu for 1199
the project shall not be less than one-third (1/3); provided that 1200
such allowed sum of each annual fee-in-lieu payment may be first 1201
apportioned between the county or municipality, as appropriate, 1202
and the school districts in any such amounts as may be determined 1203
by the county board of supervisors or municipal governing 1204
authority, as the case may be, to either: (a) first allocate and 1205
remit to the Mississippi Major Economic Impact Authority or the 1206
Mississippi Development Authority, as applicable, such portion of 1207
each annual fee-in-lieu payment to repay to the Mississippi Major 1208
Economic Impact Authority or the Mississippi Development 1209
Authority, as applicable, funds advanced thereby to such county 1210
and/or municipality or to other public agency, as defined in 1211
Section 57-75-37(7)(a)(ii), to fund public improvements and 1212
related costs for the project pursuant to an agreement entered 1213
into in accordance with Section 57-75-37(7)(c)(iii); or (b) first 1214
allocate and remit to the enterprise owning and/or operating the 1215
project such portion of each annual fee-in-lieu payment payable 1216
thereto pursuant to an agreement entered into in accordance with 1217
Section 57-75-37(7)(d)(iv). The balance of any annual fee-in-lieu 1218
amount remaining after such initial allocation and remittance to 1219
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the Mississippi Major Economic Impact Authority, Mississippi 1220
Development Authority or enterprise owning and/or operating the 1221
project, as applicable, shall then be apportioned in accordance 1222
with subsection (4) of this section or as otherwise authorized by 1223
state law. 1224
(11) Any fee-in-lieu of ad valorem taxes granted under this 1225
section before March 28, 2019, and consistent herewith, is hereby 1226
ratified, approved and confirmed. 1227
[From and after July 1, * * * 2029, this section shall read 1228
as follows:] 1229
27-31-104. (1) (a) County boards of supervisors and 1230
municipal authorities are each hereby authorized and empowered to 1231
enter into an agreement with an enterprise granting, and pursuant 1232
to such agreement grant a fee-in-lieu of ad valorem taxes, 1233
including ad valorem taxes levied for school purposes, for the 1234
following: 1235
(i) Projects totaling over Sixty Million Dollars 1236
($60,000,000.00) by any new enterprises enumerated in Section 1237
27-31-101; 1238
(ii) Projects by a private company (as such term 1239
is defined in Section 57-61-5, Mississippi Code of 1972) having a 1240
minimum capital investment of Sixty Million Dollars 1241
($60,000,000.00); 1242
(iii) Projects, in addition to those projects 1243
referenced in Section 27-31-105, totaling over Sixty Million 1244
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Dollars ($60,000,000.00) by an existing enterprise that has been 1245
doing business in the county or municipality for twenty-four (24) 1246
months. For purposes of this subparagraph (iii), the term 1247
"existing enterprise" includes those enterprises enumerated in 1248
Section 27-31-101; or 1249
(iv) A private company (as such term is defined in 1250
Section 57-61-5) or entity defined in Section 77-3-3(d)(i) having 1251
a minimum capital investment of One Hundred Million Dollars 1252
($100,000,000.00) from any source or combination of sources, 1253
provided that a majority of the capital investment is from private 1254
sources, when such project is located within a geographic area for 1255
which a Presidential Disaster Declaration was issued on or after 1256
January 1, 2014. 1257
County boards of supervisors and municipal authorities may 1258
not enter into an agreement with an enterprise that is a medical 1259
cannabis establishment, as defined in Section 41-137-3 of the 1260
Mississippi Medical Cannabis Act, granting, and pursuant to such 1261
agreement grant a fee-in-lieu of ad valorem taxes. 1262
(b) A fee-in-lieu of ad valorem taxes granted in 1263
accordance with this section may include any or all tangible 1264
property, real or personal, including any leasehold interests 1265
therein but excluding automobiles and trucks operating on and over 1266
the highways of the State of Mississippi, used in connection with, 1267
or necessary to, the operation of any enterprise, private company 1268
or business described in paragraph (a) of this subsection (1), as 1269
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applicable, whether or not such property is owned, leased, 1270
subleased, licensed or otherwise obtained by such enterprise, 1271
private company or business, as applicable, irrespective of the 1272
taxpayer to which any such leased property is assessed for ad 1273
valorem tax purposes. If a fee-in-lieu of ad valorem taxes is 1274
granted pursuant to this section with respect to any leasehold 1275
interest under a lease, sublease or license of tangible property 1276
used in connection with, or necessary to, the operation of an 1277
enterprise, private company or business described in paragraph (a) 1278
of this subsection (1), as applicable, the corresponding ownership 1279
interest of the owner, lessor and sublessor of such tangible 1280
property shall similarly and automatically be exempt and subject 1281
to the fee-in-lieu granted in accordance herewith without any 1282
action being required to be taken by such owner, lessor or 1283
sublessor. 1284
(2) A county board of supervisors may enter into a 1285
fee-in-lieu agreement on behalf of the county and any county 1286
school district, and a municipality may enter into such a 1287
fee-in-lieu agreement on behalf of the municipality and any 1288
municipal school district located in the municipality; however, if 1289
the project is located outside the limits of a municipality but 1290
within the boundaries of the municipal school district, then the 1291
county board of supervisors may enter into such a fee-in-lieu 1292
agreement on behalf of the school district granting a fee-in-lieu 1293
of ad valorem taxes for school district purposes. 1294
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(3) Any grant of a fee-in-lieu of ad valorem taxes shall be 1295
evidenced by a written agreement negotiated by the enterprise and 1296
the county board of supervisors and/or municipal authority, as the 1297
case may be, and given final approval by the Mississippi 1298
Development Authority as satisfying the requirements of this 1299
section. 1300
(4) (a) The minimum sum allowable as a fee-in-lieu shall 1301
not be less than one-third (1/3), or one-tenth (1/10) if the 1302
project is also a project eligible for an ad valorem tax exemption 1303
under Section 27-31-46 and a fee-in-lieu agreement is entered into 1304
before July 1, 2026, of the ad valorem levy, including ad valorem 1305
taxes for school district purposes, and except as otherwise 1306
provided, the sum allowed shall be apportioned between the county 1307
or municipality, as appropriate, and the school districts in such 1308
amounts as may be determined by the county board of supervisors or 1309
municipal governing authority, as the case may be, however, except 1310
as otherwise provided in this section, from the sum allowed the 1311
apportionment to school districts shall not be less than the 1312
school districts' pro rata share based upon the proportion that 1313
the millage imposed for the school districts by the appropriate 1314
levying authority bears to the millage imposed by such levying 1315
authority for all other county or municipal purposes. Any 1316
fee-in-lieu agreement entered into under this section shall become 1317
a binding obligation of the parties to the agreement, be effective 1318
upon its execution by the parties and approval by the Mississippi 1319
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Development Authority and, except as otherwise provided in Section 1320
17-25-23 or Section 57-75-33, or any other provision of law, 1321
continue in effect for a period not to exceed thirty (30) years 1322
commencing on the date that the fee-in-lieu granted thereunder 1323
begins in accordance with the agreement; however, no particular 1324
parcel of land, real property improvement or item of personal 1325
property shall be subject to a fee-in-lieu for a duration of more 1326
than ten (10) years. Any such agreement shall be binding, 1327
according to its terms, on future boards of supervisors of the 1328
county and/or governing authorities of a municipality, as the case 1329
may be, for the duration of the agreement. 1330
(b) For any project with a capital investment in excess 1331
of Two Billion Dollars ($2,000,000,000.00) for which a fee-in-lieu 1332
agreement is entered into after July 1, 2026, or for which a 1333
fee-in-lieu agreement was entered into before July 1, 2026, but 1334
for which no property subject to the agreement was entered on a 1335
tax roll and liable for taxation before January 1, 2026, of the 1336
sum allowed as a fee-in-lieu on the portion of the project in 1337
excess of Two Billion Dollars ($2,000,000,000.00): (i) forty 1338
percent (40%) shall be apportioned between the county or 1339
municipality, as appropriate, and the school districts in such 1340
amounts as may be determined by the county board of supervisors or 1341
municipal governing authority, as the case may be, as provided in 1342
paragraph (a) of this subsection and (ii) sixty percent (60%) 1343
shall be deposited into the Mississippi Strategic Development Fund 1344
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created in Section 4 of this act. However, for a project for 1345
which a fee-in-lieu agreement was entered into before July 1, 1346
2026, but for which no property subject to the agreement was 1347
entered on a tax roll and liable for taxation before January 1, 1348
2026, amounts remitted to the Mississippi Major Economic Impact 1349
Authority or the Mississippi Development Authority, as applicable, 1350
under subsection (10) of this section shall be credited against 1351
the state's sixty percent (60%) portion of the sum allowed as a 1352
fee-in-lieu. In addition, all capital investment for a project, 1353
regardless of ownership or other interest of any enterprise 1354
providing investment and/or ownership or other interest in 1355
property that is part of the project and subject to a fee-in-lieu 1356
agreement, shall be considered to be part of the total aggregate 1357
capital investment for purposes of determining whether the capital 1358
investment for the project is in excess of Two Billion Dollars 1359
($2,000,000,000.00). 1360
(5) The fee-in-lieu may be a stated fraction or percentage 1361
of the ad valorem taxes otherwise payable or a stated dollar 1362
amount. If the fee is a fraction or percentage of the ad valorem 1363
tax levy, it shall be annually computed on all ad valorem taxes 1364
otherwise payable, including school taxes, as the same may vary 1365
from year to year based upon changes in the millage rate or 1366
assessed value and shall not be less than one-third (1/3) of that 1367
amount or one-tenth (1/10) of that amount if the project is also a 1368
project eligible for an ad valorem tax exemption under Section 1369
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27-31-46 and a fee-in-lieu agreement is entered into before July 1370
1, 2026. If the fee is a stated dollar amount, said amount shall 1371
be the higher of the sum provided for fixed payment or (a) 1372
one-third (1/3) of the total of all ad valorem taxes otherwise 1373
payable as annually determined during each year of the fee-in-lieu 1374
or (b) if the project is also a project eligible for an ad valorem 1375
tax exemption under Section 27-31-46 and a fee-in-lieu agreement 1376
is entered into before July 1, 2026, one-tenth (1/10) of the total 1377
of all ad valorem taxes otherwise payable as annually determined 1378
during each year of the fee-in-lieu. 1379
(6) Notwithstanding Section 27-31-111, the parties to a 1380
fee-in-lieu may agree on terms and conditions providing for the 1381
reduction, suspension, termination or reinstatement of a 1382
fee-in-lieu agreement or any fee-in-lieu period granted thereunder 1383
upon the cessation of operations by project for twelve (12) or 1384
more consecutive months or due to other conditions set forth in 1385
the agreement. 1386
(7) For a project as defined in Section 57-75-5(f)(xxi) and 1387
located in a county that is a member of a regional economic 1388
development alliance created under Section 57-64-1 et seq., the 1389
members of the regional economic development alliance may divide 1390
the sum allowed as a fee-in-lieu in a manner as determined by the 1391
alliance agreement, and the boards of supervisors of the member 1392
counties may then apportion the sum allowed between school 1393
district purposes and all other county purposes. 1394
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(8) For a project as defined in Section 57-75-5(f)(xxvi), 1395
the board of supervisors of the county in which the project is 1396
located may negotiate with the school district in which the 1397
project is located and apportion to the school district an amount 1398
of the fee-in-lieu that is agreed upon in the negotiations 1399
different than the amount provided for in subsection (3) of this 1400
section. 1401
(9) For a project as defined in Section 57-75-5(f)(xxviii), 1402
the annual amount of the fee-in-lieu apportioned to the county 1403
shall not be less than the amount necessary to pay the annual debt 1404
service on bonds issued by the county pursuant to Section 1405
57-75-37(3)(c). 1406
(10) For any county and/or municipality that enters into a 1407
fee-in-lieu agreement for a project as defined in Section 1408
57-75-5(f)(xxxiii), the minimum sum allowable as a fee-in-lieu for 1409
the project shall not be less than one-third (1/3); provided that 1410
such allowed sum of each annual fee-in-lieu payment may be first 1411
apportioned between the county or municipality, as appropriate, 1412
and the school districts in any such amounts as may be determined 1413
by the county board of supervisors or municipal governing 1414
authority, as the case may be, to either: (a) first allocate and 1415
remit to the Mississippi Major Economic Impact Authority or the 1416
Mississippi Development Authority, as applicable, such portion of 1417
each annual fee-in-lieu payment to repay to the Mississippi Major 1418
Economic Impact Authority or the Mississippi Development 1419
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Authority, as applicable, funds advanced thereby to such county 1420
and/or municipality or to other public agency, as defined in 1421
Section 57-75-37(7)(a)(ii), to fund public improvements and 1422
related costs for the project pursuant to an agreement entered 1423
into in accordance with Section 57-75-37(7)(c)(iii); or (b) first 1424
allocate and remit to the enterprise owning and/or operating the 1425
project such portion of each annual fee-in-lieu payment payable 1426
thereto pursuant to an agreement entered into in accordance with 1427
Section 57-75-37(7)(d)(iv). The balance of any annual fee-in-lieu 1428
amount remaining after such initial allocation and remittance to 1429
the Mississippi Major Economic Impact Authority, Mississippi 1430
Development Authority or enterprise owning and/or operating the 1431
project, as applicable, shall then be apportioned in accordance 1432
with subsection (4) of this section or as otherwise authorized by 1433
state law. 1434
(11) Any fee-in-lieu of ad valorem taxes granted under this 1435
section before March 28, 2019, and consistent herewith, is hereby 1436
ratified, approved and confirmed. 1437
SECTION 4. There is created in the State Treasury a special 1438
fund to be designated as the "Mississippi Strategic Development 1439
Fund", which shall consist of funds deposited therein under 1440
Section 27-31-104(4)(b), Mississippi Code of 1972, and funds from 1441
any other source designated for deposit into such fund. The fund 1442
shall be maintained by the State Treasurer as a separate and 1443
special fund, separate and apart from the General Fund of the 1444
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state. Unexpended amounts remaining in the fund at the end of a 1445
fiscal year shall not lapse into the State General Fund, and any 1446
investment earnings or interest earned on amounts in the fund 1447
shall be deposited to the credit of the fund. Monies in the fund 1448
that are derived from a project described in Section 1449
27-31-104(4)(b), shall be expended by the Mississippi Development 1450
Authority, upon appropriation by the Legislature, for making 1451
strategic investments in major transportation and other 1452
infrastructure projects that support the county in which the 1453
project is located and the surrounding geographical area for the 1454
purpose of promoting and supporting economic development and 1455
improving transportation related capabilities and other public 1456
infrastructure. Other monies in the fund shall be expended by the 1457
Mississippi Development Authority, upon appropriation by the 1458
Legislature, making strategic infrastructure investments, 1459
furthering economic development and making quality of life 1460
improvements statewide. 1461
SECTION 5. Section 27-31-105, Mississippi Code of 1972, is 1462
brought forward as follows: 1463
27-31-105. (1) Any person, firm or corporation who owns or 1464
operates a manufacturing or other enterprise of public utility as 1465
enumerated in Section 27-31-101 and who makes additions to or 1466
expansions of the facilities or properties or replaces equipment 1467
used in connection with or necessary to the operation of such 1468
enterprise may be granted an exemption from ad valorem taxation, 1469
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except state ad valorem taxation, ad valorem taxes for school 1470
district purposes, and ad valorem taxes on the products thereof or 1471
on automobiles and trucks belonging thereto and operating on and 1472
over the highways of the State of Mississippi, upon each addition 1473
to or expansion of the facility or property or replacement of 1474
equipment, used in connection with, or necessary to, the operation 1475
of an enterprise enumerated in Section 27-31-101, whether or not 1476
such property is owned, leased, subleased, licensed or otherwise 1477
obtained by such enterprise, irrespective of the taxpayer to which 1478
any such leased property is assessed for ad valorem tax purposes, 1479
within the discretion of the county board of supervisors and 1480
municipal authorities; however, such governing authorities shall 1481
not exempt ad valorem taxes for school district purposes on such 1482
additions or expansions of the facility or property, or 1483
replacement of equipment. If an exemption is granted pursuant to 1484
this subsection (1) with respect to any leasehold interest under a 1485
lease, sublease or license of tangible property used in connection 1486
with, or necessary to, the operation of an enterprise enumerated 1487
in Section 27-31-101, the corresponding ownership interest of the 1488
owner, lessor and sublessor of such tangible property shall 1489
similarly and automatically be exempt without any action being 1490
required to be taken by such owner, lessor or sublessor. In order 1491
to obtain the exemptions authorized by this section, a person, 1492
firm or corporation shall follow the same procedure prescribed for 1493
obtaining an exemption on a new enterprise, except as otherwise 1494
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provided in this section. For any additions, expansions or 1495
replacements with reference to any particular new enterprise, 1496
which have been completed during any calendar year, only one (1) 1497
request must be made for the exemptions sought for the additions, 1498
expansions or replacements. The time of the exemption shall 1499
commence from the date of completion of the additions, expansions 1500
or replacements, and shall extend for a period not to exceed ten 1501
(10) years thereafter; however, boards of supervisors and 1502
municipal authorities, in lieu of granting the exemption for one 1503
(1) period of ten (10) years, may grant the exemption in 1504
consecutive periods of five (5) years each, but the total of such 1505
consecutive periods shall not exceed ten (10) years. The initial 1506
request for an exemption must be made in writing by June 1 of the 1507
year immediately following the year in which the additions, 1508
expansions or replacements are completed. If the initial request 1509
for the exemption is not timely made, the board of supervisors or 1510
municipal authorities may grant a subsequent request for the 1511
exemption and, in such case, the exemption shall begin on the 1512
anniversary date of completion of the additions, expansions or 1513
replacements in the year in which the request is made and may be 1514
for a period of time extending not more than ten (10) years from 1515
the date of completion of the additions, expansions or 1516
replacements. Any subsequent request for the exemption must be 1517
made in writing by June 1 of the year in which it is granted. Any 1518
exemption from ad valorem taxes granted under this subsection (1) 1519
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before March 28, 2019, and consistent herewith, is hereby 1520
ratified, approved and confirmed. 1521
(2) For expansions of facilities or properties, or 1522
replacement of equipment, county boards of supervisors and 1523
municipal authorities may grant a fee in lieu of taxes in the same 1524
manner, to the same extent, and with the same qualifying threshold 1525
as provided for projects under Section 27-31-104, Mississippi Code 1526
of 1972. Any fee-in-lieu of taxes granted under this subsection 1527
(2) before March 28, 2019, and consistent herewith, is hereby 1528
ratified, approved and confirmed. 1529
SECTION 6. Section 19-9-151, Mississippi Code of 1972, is 1530
amended as follows: 1531
19-9-151. The in-lieu payments made to the * * * Department 1532
of Revenue pursuant to Section 27-35-309(3)(b), excluding payments 1533
made in excess of Sixteen Million Dollars ($16,000,000.00) * * *, 1534
shall be distributed by the * * * Department of Revenue as 1535
follows: 1536
(a) For fiscal year 1987, fifty percent (50%) of such 1537
payment shall be paid to the situs county wherein such nuclear 1538
generating plant is located; 1539
(b) For fiscal year 1988, forty-five percent (45%) of 1540
such payment shall be paid to the situs county wherein such 1541
nuclear generating plant is located; 1542
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(c) For fiscal year 1989, forty percent (40%) of such 1543
payment shall be paid to the situs county wherein such nuclear 1544
generating plant is located; 1545
(d) For fiscal year 1990, thirty-five (35%) of such 1546
payment shall be paid to the situs county wherein such nuclear 1547
generating plant is located; 1548
(e) For fiscal year 1991 and thereafter, thirty percent 1549
(30%) of such payment shall be paid to the situs county wherein 1550
such nuclear generating plant is located; 1551
(f) For fiscal year 2027, and each fiscal year 1552
thereafter, One Million Dollars ($1,000,000.00) of such payment 1553
shall be paid to the situs county wherein such nuclear generating 1554
plant is located; 1555
(g) For fiscal year 2027, and each fiscal year 1556
thereafter, One Million Dollars ($1,000,000.00) of such payment 1557
shall be paid to Jefferson County, Mississippi. 1558
The funds received by Jefferson County, Mississippi, under 1559
this section, shall be expended by the county solely for road, 1560
bridge and other transportation infrastructure directly related to 1561
disaster and emergency preparedness and response for risks 1562
associated with being adjacent to the situs county wherein which 1563
such nuclear generating plant is located and proximity to the 1564
nuclear generating plant. 1565
SECTION 7. Section 19-9-153, Mississippi Code of 1972, is 1566
amended as follows: 1567
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19-9-153. Of the funds received pursuant to Section 19-9-151 1568
by a situs county wherein such nuclear generating plant is 1569
located, excluding funds received pursuant to Section 19-9-151(f), 1570
the board of supervisors of such situs county shall distribute ten 1571
percent (10%) of each payment, upon receipt, to the most populous 1572
incorporated municipality within the county; however, if such 1573
plant is located within a municipality, such payments which would 1574
otherwise be made to the situs county pursuant to Section 19-9-151 1575
shall be divided equally between the situs county and situs 1576
municipality. 1577
SECTION 8. Section 19-9-155, Mississippi Code of 1972, is 1578
amended as follows: 1579
19-9-155. Of the funds retained by the situs county after 1580
the payment made pursuant to Section 19-9-153, * * * One Million 1581
Dollars ($1,000,000.00) per year shall be expended by the situs 1582
county solely for road, bridge and other transportation 1583
infrastructure directly related to disaster and emergency 1584
preparedness and response for risks associated with being the 1585
situs county wherein which such nuclear generating plant is 1586
located, and the remaining funds may be expended by the board of 1587
supervisors of the county for any purposes for which a county is 1588
authorized by law to levy an ad valorem tax * * *. 1589
SECTION 9. Section 27-35-309, Mississippi Code of 1972, is 1590
amended as follows: 1591
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27-35-309. (1) The Department of Revenue shall, if 1592
practicable, on or before the first Monday of June of each year, 1593
make out for each person, firm, company or corporation listed in 1594
Section 27-35-303, Mississippi Code of 1972, an assessment of the 1595
company's property, both real and personal, tangible and 1596
intangible. The Department of Revenue shall apportion the 1597
assessment of value of each company's property according to the 1598
provisions of this article, except as provided in subsection (3) 1599
of this section, as follows: 1600
(a) When the property of such public service company is 1601
located in more than one (1) county in this state, the Department 1602
of Revenue shall direct the company to apportion the assessed 1603
value between the counties and municipalities and all other taxing 1604
districts therein, in the proportion which the property located 1605
therein bears to the entire value of the property of such company 1606
as valued by the department, so that to each county, municipality 1607
and taxing district therein, there shall be apportioned such part 1608
of the entire valuation as will fairly equalize the relative value 1609
of the property therein located to the whole value thereof. 1610
(b) When the property of such public utility required 1611
to be assessed by the provisions of this article is located in 1612
more than one (1) state, the assessed value thereof shall be 1613
apportioned by the Department of Revenue in such manner as will 1614
fairly and equitably determine the principal sum for the value 1615
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thereof in this state, and after ascertaining such value it shall 1616
be apportioned by them as herein provided. 1617
The assessment roll shall contain all the property of any 1618
such public service company, railroad, person, firm or corporation 1619
and the value thereof, and so made that each county, municipality, 1620
and taxing district shall receive its just share of taxes 1621
proportionately to the amount of property therein situated. 1622
(2) (a) The assessment when made shall remain open for 1623
twenty (20) days in the Office of the Department of Revenue, and 1624
be for such time subject to the objections thereto which may be 1625
filed with the Executive Director of the Board of Tax Appeals; but 1626
real estate belonging to railroads and which forms no part of the 1627
road, and is wholly disconnected from its railroad business, shall 1628
not be assessed by the Department of Revenue, but shall be 1629
assessed as other real estate is assessed by the tax assessor of 1630
the county where situated. 1631
(b) The apportionment of the assessed value as required 1632
by this section shall be filed with the Department of Revenue by 1633
such public service company on or before the last day of the 1634
objection period established in paragraph (a) of this subsection 1635
(2). If such company shall fail, refuse or neglect to render the 1636
apportionment of assessed value as required by this section, such 1637
company shall be subject to the penalties provided for in Section 1638
27-35-305. The filing of an objection by such public service 1639
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company shall not preclude such company from filing the property 1640
apportionment as required by this section. 1641
(3) Any nuclear generating plant which is located in the 1642
state, which is owned or operated by a public utility rendering 1643
electric service within the state and not exempt from ad valorem 1644
taxation under any other statute and which is not owned or 1645
operated by an instrumentality of the federal government shall be 1646
exempt from county, municipal and district ad valorem taxes. In 1647
lieu of the payment of county, municipal and district ad valorem 1648
taxes, such public utility shall pay to the Department of Revenue 1649
a sum based on the assessed value of such nuclear generating plant 1650
in an amount to be determined and distributed as follows: 1651
(a) The Department of Revenue shall annually assign an 1652
assessed value to any nuclear generating plant described in this 1653
subsection in the same manner as for ad valorem tax purposes by 1654
using accepted industry methods for appraising and assessing 1655
public utility property. The assessed value assigned shall be 1656
used for the purpose of determining the in-lieu tax due under this 1657
section and shall not be included on the ad valorem tax rolls of 1658
the situs taxing authority nor be subject to ad valorem taxation 1659
by the situs taxing authority nor shall the assessed value 1660
assigned be used in determining the debt limit of the situs taxing 1661
authority. However, the assessed value so assigned may be used by 1662
the situs taxing authority for the purpose of determining salaries 1663
of its public officials. 1664
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(b) On or before February 1, 1987, for the 1986 taxable 1665
year and on or before February 1 of each year through the 1989 1666
taxable year, such utility shall pay to the Department of Revenue 1667
a sum equal to two percent (2%) of the assessed value as 1668
ascertained by the Department of Revenue, but such payment shall 1669
not be less than Sixteen Million Dollars ($16,000,000.00) for any 1670
of the four (4) taxable years; all such payments in excess of 1671
Sixteen Million Dollars ($16,000,000.00) for these four (4) 1672
taxable years shall be paid into the General Fund of the state. 1673
On or before February 1, 1991, for the 1990 taxable year and on or 1674
before February 1 of each year thereafter, such utility shall pay 1675
to the Department of Revenue a sum equal to two percent (2%) of 1676
the assessed value as ascertained by the Department of Revenue, 1677
but such payment shall not be less than Twenty Million Dollars 1678
($20,000,000.00) for any taxable year for as long as such nuclear 1679
power plant is licensed to operate and is not being permanently 1680
decommissioned; all such payments in excess of Sixteen Million 1681
Dollars ($16,000,000.00) for taxable years 1990 and thereafter 1682
shall be paid as follows: 1683
(i) An amount of Three Million Forty Thousand 1684
Dollars ($3,040,000.00) annually, beginning with fiscal year 1991, 1685
shall be transferred by the Department of Revenue to Claiborne 1686
County. Such payments may be expended by the Board of Supervisors 1687
of Claiborne County for any purpose for which a county is 1688
authorized by law to levy an ad valorem tax and shall not be 1689
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included or considered as proceeds of ad valorem taxes for the 1690
purposes of the growth limitation on ad valorem taxes under 1691
Sections 27-39-305 and 27-39-321. However, should the Board of 1692
Supervisors of Claiborne County withdraw its support of the Grand 1693
Gulf Nuclear Station off-site emergency plan or otherwise fail to 1694
satisfy its off-site emergency plan commitments as determined by 1695
the Mississippi Emergency Management Agency and the Federal 1696
Emergency Management Agency, Five Hundred Thousand Dollars 1697
($500,000.00) annually of the funds designated for Claiborne 1698
County as described by this * * * subparagraph (i) shall be 1699
deposited in the Grand Gulf Disaster Assistance Fund as provided 1700
in Section 33-15-51. 1701
(ii) An amount of One Hundred Sixty Thousand 1702
Dollars ($160,000.00) annually, beginning with fiscal year 1991, 1703
shall be transferred by the Department of Revenue to the City of 1704
Port Gibson, Mississippi. Such payments may be expended by the 1705
Board of Aldermen of the City of Port Gibson for any purpose for 1706
which a municipality is authorized by law to levy an ad valorem 1707
tax and shall not be included or considered as proceeds of ad 1708
valorem taxes for the purposes of the growth limitation on ad 1709
valorem taxes under Sections 27-39-305 and 27-39-321. However, 1710
should the Board of Aldermen of the City of Port Gibson withdraw 1711
its support of the Grand Gulf Nuclear Station off-site emergency 1712
plan or otherwise fail to satisfy its off-site emergency plan 1713
commitment, as determined by the Mississippi Emergency Management 1714
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Agency and the Federal Emergency Management Agency, Fifty Thousand 1715
Dollars ($50,000.00) annually of the funds designated for the City 1716
of Port Gibson as described by this * * * subparagraph (ii) shall 1717
be deposited in the Grand Gulf Disaster Assistance Fund as 1718
provided in Section 33-15-51. 1719
(iii) The remaining balance of the payments in 1720
excess of Sixteen Million Dollars ($16,000,000.00) annually, less 1721
amounts transferred under (i) and (ii) of this subsection, 1722
beginning with fiscal year 1991, shall be allocated in accordance 1723
with subsection (3)(f) of this section. 1724
(c) Pursuant to certification by the Attorney General 1725
to the State Treasurer and the Department of Revenue that the suit 1726
against the State of Mississippi pending on the effective date of 1727
House Bill 8, First Extraordinary Session of 1990, [Laws, 1990 Ex 1728
Session, Ch. 12, eff June 26, 1990], in the Chancery Court for the 1729
First Judicial District of Hinds County, Mississippi, styled 1730
Albert Butler et al v. the Mississippi State Tax Commission et al, 1731
has been voluntarily dismissed with prejudice as to all plaintiffs 1732
at the request of the complainants and that no attorney's fees or 1733
court costs have been assessed against the state and each of the 1734
parties, including Claiborne County and each municipality and 1735
school district located in the county, have signed and delivered 1736
to the Attorney General a full and complete release in favor of 1737
the State of Mississippi and its elected officials of all claims 1738
that have been asserted or may be asserted in the suit pending on 1739
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the effective date of House Bill 8, First Extraordinary Session of 1740
1990, [Laws, 1990 Ex Session, Ch. 12, eff June 26, 1990], in the 1741
Chancery Court for the First Judicial District of Hinds County, 1742
Mississippi, styled Albert Butler et al v. the Mississippi State 1743
Tax Commission et al, and the deposit into the State General Fund 1744
of in-lieu payments and interest thereon due the state under 1745
subsection (3)(b) of this section but placed in escrow because of 1746
the lawsuit described above, the state shall promptly transfer to 1747
the Board of Supervisors of Claiborne County out of the State 1748
General Fund an amount of Two Million Dollars ($2,000,000.00) 1749
which shall be a one-time distribution to Claiborne County from 1750
the state. Such payment may be expended by the Board of 1751
Supervisors of Claiborne County for any purposes for which a 1752
county is authorized by law to levy an ad valorem tax and shall 1753
not be included or considered as proceeds of ad valorem taxes for 1754
the purposes of the growth limitation on ad valorem taxes for the 1755
1991 fiscal year under Sections 27-39-321 and 27-39-305. 1756
(d) After distribution of the one-time payment to 1757
Claiborne County as set forth in subsection (3)(c) of this 1758
section, the Department of Revenue upon certification that the 1759
pending lawsuit as described in subsection (3)(c) of this section 1760
has been voluntarily dismissed shall promptly deposit an amount of 1761
Five Hundred Thousand Dollars ($500,000.00) into the Grand Gulf 1762
Disaster Assistance Trust Fund as provided for in Section 1763
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ST: Economic development; revise incentives
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33-15-51, which shall be a one-time payment, to be utilized in 1764
accordance with the provisions of such section. 1765
(e) After distribution of the one-time payment to 1766
Claiborne County as set forth in subsection (3)(c) of this section 1767
and the payment to the Grand Gulf Disaster Assistance Trust Fund 1768
as set forth in subsection (3)(d) of this section, the Department 1769
of Revenue upon certification that the pending lawsuit as 1770
described in subsection (3)(c) of this section has been 1771
voluntarily dismissed shall promptly distribute ten percent (10%) 1772
of the remainder of the prior payments remaining in escrow to the 1773
General Fund of the state and the balance of the prior payments 1774
remaining in escrow shall be distributed to the counties and 1775
municipalities in this state wherein such public utility has 1776
rendered electric service in the proportion that the amount of 1777
electric energy consumed by the retail customers of such public 1778
utility in each county, excluding municipalities therein, and in 1779
each municipality, for the next preceding fiscal year bears to the 1780
total amount of electric energy consumed by all retail customers 1781
of such public utility in the State of Mississippi for the next 1782
preceding fiscal year. The payments distributed to the counties 1783
and municipalities under this paragraph (e) may be expended by 1784
such counties and municipalities for any lawful purpose and shall 1785
not be included or considered as proceeds of ad valorem taxes for 1786
the purposes of the growth limitation on ad valorem taxes under 1787
Sections 27-39-321 and 27-39-305. 1788
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(f) After distribution of the payments for fiscal year 1789
1991 as set forth in Section 19-9-151 and distribution of the 1790
payments as provided for in subsection (3)(b) of this section, and 1791
ending with fiscal year 2026, the Department of Revenue shall 1792
distribute ten percent (10%) of the remainder of the payments to 1793
the General Fund of the state and the balance to the counties and 1794
municipalities in this state wherein such public utility renders 1795
electric service in the proportion that the amount of electric 1796
energy consumed by the retail customers of such public utility in 1797
each county, excluding municipalities therein, and in each 1798
municipality for the next preceding fiscal year bears to the total 1799
amount of electric energy consumed by all retail customers of such 1800
public utility in the State of Mississippi for the next preceding 1801
fiscal year. 1802
Beginning with fiscal year 2027, and for each fiscal year 1803
thereafter, after distribution of the payments for fiscal year 1804
2027 as set forth in Section 19-9-151 and distribution of the 1805
payments as provided for in subsection (3)(b) of this section, the 1806
Department of Revenue shall distribute One Million Five Hundred 1807
Thousand Dollars ($1,500,000.00) of the remainder of the payments 1808
to the City of Jackson, Mississippi, and the balance to the 1809
counties and municipalities in this state wherein such public 1810
utility renders electric service in the proportion that the amount 1811
of electric energy consumed by the retail customers of such public 1812
utility in each county, excluding municipalities therein, and in 1813
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each municipality for the next preceding fiscal year bears to the 1814
total amount of electric energy consumed by all retail customers 1815
of such public utility in the State of Mississippi for the next 1816
preceding fiscal year. 1817
(g) Through fiscal year 2026, no county, including 1818
municipalities therein, shall receive in excess of twenty percent 1819
(20%) of the funds distributed under paragraph (f) of this 1820
subsection. Beginning with fiscal year 2027, and for each fiscal 1821
year thereafter, no county, including municipalities therein, 1822
shall receive in excess of five percent (5%) of the funds 1823
distributed under paragraph (f) of this subsection; however, this 1824
limitation shall not apply to funds distributed to the City of 1825
Jackson, Mississippi. 1826
(h) The revenues received by counties and 1827
municipalities under paragraph (f) of this subsection shall not be 1828
included or considered as proceeds of ad valorem taxes for the 1829
purposes of the growth limitation on ad valorem taxes under 1830
Sections 27-39-305 and 27-39-321. 1831
SECTION 10. This act shall take effect and be in force from 1832
and after July 1, 2026. 1833