Read the full stored bill text
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~ G1/2
26/SS36/R591CS
PAGE 1
To: Municipalities; Finance
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Senator(s) Wiggins
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 2862
AN ACT TO BRING FORWARD SECTIONS 21-1-59, 27-31-1 AND 1
57-75-5, MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE 2
AMENDMENT; AND FOR RELATED PURPOSES. 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 4
SECTION 1. Section 21-1-59, Mississippi Code of 1972, is 5
brought forward as follows: 6
21-1-59. (1) No municipality shall be created or shall 7
change its boundaries so as to include within the limits of such 8
municipality any of the buildings or grounds of any state 9
institution, unless consent thereto shall be obtained in writing 10
from the board of trustees of such institution or such other 11
governing board or body as may be created for the control of such 12
institution. Inclusion of the buildings or grounds of any state 13
institution within the area of a municipal incorporation or 14
expansion without the consent hereinabove required shall be 15
voidable at the option of the affected institution within six (6) 16
months after the institution becomes aware of the inclusion. Upon 17
consent to inclusion within the area of a municipal incorporation 18
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 2
or expansion, a state institution may require, subject to 19
agreement of the municipality involved, conditions relating to 20
land use development, zoning requirements, building codes and 21
delivery of governmental services which shall be applicable to the 22
buildings or grounds of the institution included in the 23
municipality. 24
Provided further, that any future changes in the boundaries 25
of a presently existing municipality which extends into or further 26
extends into a county other than the county in which the 27
municipality's principal office is located shall not affect the 28
public school district located in the annexed area, unless and 29
until consent thereto shall have first been obtained in writing 30
from the board of trustees of the school district proposed to be 31
partially or wholly included in the change of municipal 32
boundaries. 33
Provided further, that any change in the boundaries of a 34
presently existing municipality of any Class 1 county having two 35
(2) judicial districts, being traversed by U.S. Highway 11 which 36
intersects U.S. Highway 84, shall not affect the public school 37
district located in the annexed area and shall not change the 38
governmental unit to which the school taxes are paid, unless 39
approved by referendum as hereinafter provided. 40
In the event that twenty percent (20%) of the registered 41
voters residing within the area to be annexed by a municipality 42
petition the governing body of such municipality for a referendum 43
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 3
on the question of inclusion in the municipal school district 44
within sixty (60) days of public notice of the adoption of such 45
ordinance, such notice given in the same manner and for the same 46
length of time as is provided in Section 21-1-15 with regard to 47
the creation of municipal corporations, the governing body of the 48
county in which the area to be annexed is located shall hold a 49
referendum of all registered voters residing within the area to be 50
annexed on the question of inclusion in the municipal school 51
district. Approval of the ordinance shall be made by a majority 52
vote of the qualified electors voting in said referendum to be 53
held within ninety (90) days from the date of filing and 54
certification of the petition provided for herein on the question 55
of such extension or contraction. The referendum shall be held in 56
the same manner as are other county elections. 57
The inclusion of buildings or grounds of any state 58
institution within the area of a municipal incorporation or 59
expansion in any proceedings creating a municipality or enlarging 60
the boundaries of a municipality prior to the effective date of 61
Senate Bill 2307, 1987 Regular Session (Chapter 359, eff March 18, 62
1987), is hereby ratified, confirmed and validated, regardless of 63
whether such inclusion was in conformity with the requirements of 64
this section at the time of such proceedings, and such inclusion 65
shall not be void or voidable by any affected state institution on 66
or after the effective date of Senate Bill 2307, 1987 Regular 67
Session (Chapter 359, eff March 18, 1987). This paragraph shall 68
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 4
not be applicable to and shall not be construed to validate the 69
inclusion of buildings or grounds of any state institution within 70
the area of a municipal incorporation or expansion where such 71
inclusion or the proceedings involving such inclusion were 72
declared invalid or void in a final adjudication of a court of 73
competent jurisdiction prior to the effective date of Senate Bill 74
2307, 1987 Regular Session (Chapter 359, eff March 18, 1987), and 75
the decision of such court was not appealed within the applicable 76
time period for appeals from such court or was not overturned by 77
any court to which an appeal may have been made. 78
(2) The governing authorities of a municipality may enter 79
into an agreement with an enterprise operating a project as 80
defined in Section 57-75-5(f)(iv)1, Section 57-75-5(f)(xxi), 81
Section 57-75-5(f)(xxviii) or Section 57-75-5(f)(xxix) providing 82
that the municipality shall not change its boundaries so as to 83
include within the limits of such municipality the project site of 84
such a project unless consent thereto shall be obtained in writing 85
from the enterprise operating the project. Such agreement may be 86
for a period not to exceed thirty (30) years. Such agreement 87
shall be binding on future governing authorities of such 88
municipality. 89
SECTION 2. Section 27-31-1, Mississippi Code of 1972, is 90
brought forward as follows: 91
27-31-1. The following shall be exempt from taxation: 92
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 5
(a) All cemeteries used exclusively for burial 93
purposes. 94
(b) All property, real or personal, belonging to the 95
State of Mississippi or any of its political subdivisions, except 96
property of a municipality not being used for a proper municipal 97
purpose and located outside the county or counties in which such 98
municipality is located. A proper municipal purpose within the 99
meaning of this section shall be any authorized governmental or 100
corporate function of a municipality. 101
(c) All property, real or personal, owned by units of 102
the Mississippi National Guard, or title to which is vested in 103
trustees for the benefit of any unit of the Mississippi National 104
Guard; provided such property is used exclusively for such unit, 105
or for public purposes, and not for profit. 106
(d) All property, real or personal, belonging to any 107
religious society, or ecclesiastical body, or any congregation 108
thereof, or to any charitable society, or to any historical or 109
patriotic association or society, or to any garden or pilgrimage 110
club or association and used exclusively for such society or 111
association and not for profit; not exceeding, however, the amount 112
of land which such association or society may own as provided in 113
Section 79-11-33. All property, real or personal, belonging to 114
any foundation organized as a nonprofit corporation that is exempt 115
from federal income taxation under Section 501(c)(3) of the 116
Internal Revenue Code and that receives, invests and administers 117
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 6
private support for a state-supported institution of higher 118
learning, a public community college or junior college located in 119
the State of Mississippi or a nonprofit private university or 120
college located in the State of Mississippi, as the case may be. 121
For the sole purpose of applying the preceding sentence, all 122
property, real or personal, belonging to an entity that is wholly 123
owned by and controlled by such a foundation shall be treated as 124
belonging to the foundation, provided such property is not leased 125
or otherwise used to generate revenue that is not used exclusively 126
to benefit an institution described above. All property, real or 127
personal, belonging to any rural waterworks system or rural sewage 128
disposal system incorporated under the provisions of Section 129
79-11-1. All property, real or personal, belonging to any college 130
or institution for the education of youths, used directly and 131
exclusively for such purposes, provided that no such college or 132
institution for the education of youths shall have exempt from 133
taxation more than six hundred forty (640) acres of land; 134
provided, however, this exemption shall not apply to commercial 135
schools and colleges or trade institutions or schools where the 136
profits of same inure to individuals, associations or 137
corporations. All property, real or personal, belonging to an 138
individual, institution or corporation and used for the operation 139
of a grammar school, junior high school, high school or military 140
school. All property, real or personal, owned and occupied by a 141
fraternal and benevolent organization, when used by such 142
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 7
organization, and from which no rentals or other profits accrue to 143
the organization, but any part rented or from which revenue is 144
received shall be taxed. 145
(e) All property, real or personal, held and occupied 146
by trustees of public schools, and school lands of the respective 147
townships for the use of public schools, and all property kept in 148
storage for the convenience and benefit of the State of 149
Mississippi in warehouses owned or leased by the State of 150
Mississippi, wherein said property is to be sold by the Alcoholic 151
Beverage Control Division of the Department of Revenue. 152
(f) All property, real or personal, whether belonging 153
to religious or charitable or benevolent organizations, which is 154
used for hospital purposes, and nurses' homes where a part 155
thereof, and which maintain one or more charity wards that are for 156
charity patients, and where all the income from said hospitals and 157
nurses' homes is used entirely for the purposes thereof and no 158
part of the same for profit. All property, real or personal, 159
belonging to a federally qualified health center where all the 160
income from such center is used entirely for the purposes thereof 161
and no part of the same for profit. 162
(g) The wearing apparel of every person; and also 163
jewelry and watches kept by the owner for personal use to the 164
extent of One Hundred Dollars ($100.00) in value for each owner. 165
(h) Provisions on hand for family consumption. 166
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 8
(i) All farm products grown in this state for a period 167
of two (2) years after they are harvested, when in the possession 168
of or the title to which is in the producer, except the tax of 169
one-fifth of one percent (1/5 of 1%) per pound on lint cotton now 170
levied by the Board of Commissioners of the Mississippi Levee 171
District; and lint cotton for five (5) years, and cottonseed, 172
soybeans, oats, rice and wheat for one (1) year regardless of 173
ownership. 174
(j) All guns and pistols kept by the owner for private 175
use. 176
(k) All poultry in the hands of the producer. 177
(l) Household furniture, including all articles kept in 178
the home by the owner for his own personal or family use; but this 179
shall not apply to hotels, rooming houses or rented or leased 180
apartments. 181
(m) All cattle and oxen. 182
(n) All sheep, goats and hogs. 183
(o) All horses, mules and asses. 184
(p) Farming tools, implements and machinery, when used 185
exclusively in the cultivation or harvesting of crops or timber. 186
(q) All property of agricultural and mechanical 187
associations and fairs used for promoting their objects, and where 188
no part of the proceeds is used for profit. 189
(r) The libraries of all persons. 190
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 9
(s) All pictures and works of art, not kept for or 191
offered for sale as merchandise. 192
(t) The tools of any mechanic necessary for carrying on 193
his trade. 194
(u) All state, county, municipal, levee, drainage and 195
all school bonds or other governmental obligations, and all bonds 196
and/or evidences of debts issued by any church or church 197
organization in this state, and all notes and evidences of 198
indebtedness which bear a rate of interest not greater than the 199
maximum rate per annum applicable under the law; and all money 200
loaned at a rate of interest not exceeding the maximum rate per 201
annum applicable under the law; and all stock in or bonds of 202
foreign corporations or associations shall be exempt from all ad 203
valorem taxes. 204
(v) All lands and other property situated or located 205
between the Mississippi River and the levee shall be exempt from 206
the payment of any and all road taxes levied or assessed under any 207
road laws of this state. 208
(w) Any and all money on deposit in either national 209
banks, state banks or trust companies, on open account, savings 210
account or time deposit. 211
(x) All wagons, carts, drays, carriages and other 212
horse-drawn vehicles, kept for the use of the owner. 213
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 10
(y) (i) Boats, seines and fishing equipment used in 214
fishing and shrimping operations and in the taking or catching of 215
oysters. 216
(ii) All towboats, tugboats and barges documented 217
under the laws of the United States, except watercraft of every 218
kind and character used in connection with gaming operations. 219
(z) (i) All materials used in the construction and/or 220
conversion of vessels in this state; 221
(ii) Vessels while under construction and/or 222
conversion; 223
(iii) Vessels while in the possession of the 224
manufacturer, builder or converter, for a period of twelve (12) 225
months after completion of construction and/or conversion; 226
however, the twelve-month limitation shall not apply to: 227
1. Vessels used for the exploration for, or 228
production of, oil, gas and other minerals offshore outside the 229
boundaries of this state; or 230
2. Vessels that were used for the exploration 231
for, or production of, oil, gas and other minerals that are 232
converted to a new service for use outside the boundaries of this 233
state; 234
(iv) 1. In order for a vessel described in 235
subparagraph (iii) of this paragraph (z) to be exempt for a period 236
of more than twelve (12) months, the vessel must: 237
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 11
a. Be operating or operable, generating 238
or capable of generating its own power or connected to some other 239
power source, and not removed from the service or use for which 240
manufactured or to which converted; and 241
b. The manufacturer, builder, converter 242
or other entity possessing the vessel must be in compliance with 243
any lease or other agreement with any applicable port authority or 244
other entity regarding the vessel and in compliance with all 245
applicable tax laws of this state and applicable federal tax laws. 246
2. A vessel exempt from taxation under 247
subparagraph (iii) of this paragraph (z) may not be exempt for a 248
period of more than three (3) years unless the board of 249
supervisors of the county and/or governing authorities of the 250
municipality, as the case may be, in which the vessel would 251
otherwise be taxable adopts a resolution or ordinance authorizing 252
the extension of the exemption and setting a maximum period for 253
the exemption. 254
(v) As used in this paragraph (z), the term 255
"vessel" includes ships, offshore drilling equipment, dry docks, 256
boats and barges, except watercraft of every kind and character 257
used in connection with gaming operations. 258
(aa) Sixty-six and two-thirds percent (66-2/3%) of 259
nuclear fuel and reprocessed, recycled or residual nuclear fuel 260
by-products, fissionable or otherwise, used or to be used in 261
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 12
generation of electricity by persons defined as public utilities 262
in Section 77-3-3. 263
(bb) All growing nursery stock. 264
(cc) A semitrailer used in interstate commerce. 265
(dd) All property, real or personal, used exclusively 266
for the housing of and provision of services to elderly persons, 267
disabled persons, mentally impaired persons or as a nursing home, 268
which is owned, operated and managed by a not-for-profit 269
corporation, qualified under Section 501(c)(3) of the Internal 270
Revenue Code, whose membership or governing body is appointed or 271
confirmed by a religious society or ecclesiastical body or any 272
congregation thereof. 273
(ee) All vessels while in the hands of bona fide 274
dealers as merchandise and which are not being operated upon the 275
waters of this state shall be exempt from ad valorem taxes. As 276
used in this paragraph, the terms "vessel" and "waters of this 277
state" shall have the meaning ascribed to such terms in Section 278
59-21-3. 279
(ff) All property, real or personal, owned by a 280
nonprofit organization that: (i) is qualified as tax exempt under 281
Section 501(c)(4) of the Internal Revenue Code of 1986, as 282
amended; (ii) assists in the implementation of the national 283
contingency plan or area contingency plan, and which is created in 284
response to the requirements of Title IV, Subtitle B of the Oil 285
Pollution Act of 1990, Public Law 101-380; (iii) engages primarily 286
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 13
in programs to contain, clean up and otherwise mitigate spills of 287
oil or other substances occurring in the United States coastal or 288
tidal waters; and (iv) is used for the purposes of the 289
organization. 290
(gg) If a municipality changes its boundaries so as to 291
include within the boundaries of such municipality the project 292
site of any project as defined in Section 57-75-5(f)(iv)1, Section 293
57-75-5(f)(xxi) or Section 57-75-5(f)(xxviii) or Section 294
57-75-5(f)(xxix), all real and personal property located on the 295
project site within the boundaries of such municipality that is 296
owned by a business enterprise operating such project, shall be 297
exempt from ad valorem taxation for a period of time not to exceed 298
thirty (30) years upon receiving approval for such exemption by 299
the Mississippi Major Economic Impact Authority. The provisions 300
of this paragraph shall not be construed to authorize a breach of 301
any agreement entered into pursuant to Section 21-1-59. 302
(hh) All leases, lease contracts or lease agreements 303
(including, but not limited to, subleases, sublease contracts and 304
sublease agreements), and leaseholds or leasehold interests 305
(including, but not limited to, subleaseholds and subleasehold 306
interests), of or with respect to any and all property (real, 307
personal or mixed) constituting all or any part of a facility for 308
the manufacture, production, generation, transmission and/or 309
distribution of electricity, and any real property related 310
thereto, shall be exempt from ad valorem taxation during the 311
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 14
period as the United States is both the title owner of the 312
property and a sublessee of or with respect to the property; 313
however, the exemption authorized by this paragraph (hh) shall not 314
apply to any entity to whom the United States sub-subleases its 315
interest in the property nor to any entity to whom the United 316
States assigns its sublease interest in the property. As used in 317
this paragraph, the term "United States" includes an agency or 318
instrumentality of the United States of America. This paragraph 319
(hh) shall apply to all assessments for ad valorem taxation for 320
the 2003 calendar year and each calendar year thereafter. 321
(ii) All property, real, personal or mixed, including 322
fixtures and leaseholds, used by Mississippi nonprofit entities 323
qualified, on or before January 1, 2005, under Section 501(c)(3) 324
of the Internal Revenue Code to provide support and operate 325
technology incubators for research and development start-up 326
companies, telecommunication startup companies and/or other 327
technology startup companies, utilizing technology spun-off from 328
research and development activities of the public colleges and 329
universities of this state, State of Mississippi governmental 330
research or development activities resulting therefrom located 331
within the State of Mississippi. 332
(jj) All property, real, personal or mixed, including 333
fixtures and leaseholds, of start-up companies (as described in 334
paragraph (ii) of this section) for the period of time, not to 335
exceed five (5) years, that the startup company remains a tenant 336
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 15
of a technology incubator (as described in paragraph (ii) of this 337
section). 338
(kk) All leases, lease contracts or lease agreements 339
(including, but not limited to, subleases, sublease contracts and 340
sublease agreements), and leaseholds or leasehold interests, of or 341
with respect to any and all property (real, personal or mixed) 342
constituting all or any part of an auxiliary facility, and any 343
real property related thereto, constructed or renovated pursuant 344
to Section 37-101-41. 345
(ll) Equipment brought into the state temporarily for 346
use during a disaster response period as provided in Sections 347
27-113-1 through 27-113-9 and subsequently removed from the state 348
on or before the end of the disaster response period as defined in 349
Section 27-113-5. 350
(mm) For any lease or contractual arrangement to which 351
the Department of Finance and Administration and a nonprofit 352
corporation are a party to as provided in Section 39-25-1(5), the 353
nonprofit corporation shall, along with the possessory and 354
leasehold interests and/or real and personal property of the 355
corporation, be exempt from all ad valorem taxation, including, 356
but not limited to, school, city and county ad valorem taxes, for 357
the term or period of time stated in the lease or contractual 358
arrangement. 359
(nn) All property, real or personal, that is owned, 360
operated and managed by a not-for-profit corporation qualified under 361
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 16
Section 501(c)(3) of the Internal Revenue Code, and used to provide, 362
free of charge, (i) a practice facility for a public school district 363
swim team, and (ii) a facility for another not-for-profit 364
organization as defined under Section 501(c)(3) of the Internal 365
Revenue Code to conduct water safety and lifeguard training programs. 366
This section shall not apply to real or personal property owned by a 367
country club, tennis club with a pool, or any club requiring stock 368
ownership for membership. 369
(oo) Any all-terrain vehicle, as defined in Section 370
63-21-5, when held by a retailer on a consignment or floor plan 371
basis. 372
SECTION 3. Section 57-75-5, Mississippi Code of 1972, is 373
brought forward as follows: 374
57-75-5. Words and phrases used in this chapter shall have 375
meanings as follows, unless the context clearly indicates a 376
different meaning: 377
(a) "Act" means the Mississippi Major Economic Impact 378
Act as originally enacted or as hereafter amended. 379
(b) "Authority" means the Mississippi Major Economic 380
Impact Authority created pursuant to the act. 381
(c) "Bonds" means general obligation bonds, interim 382
notes and other evidences of debt of the State of Mississippi 383
issued pursuant to this chapter. 384
(d) "Facility related to the project" means and 385
includes any of the following, as the same may pertain to the 386
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 17
project within the project area: (i) facilities to provide 387
potable and industrial water supply systems, sewage and waste 388
disposal systems and water, natural gas and electric transmission 389
systems to the site of the project; (ii) airports, airfields and 390
air terminals; (iii) rail lines; (iv) port facilities; (v) 391
highways, streets and other roadways; (vi) public school 392
buildings, classrooms and instructional facilities, training 393
facilities and equipment, including any functionally related 394
facilities; (vii) parks, outdoor recreation facilities and 395
athletic facilities; (viii) auditoriums, pavilions, campgrounds, 396
art centers, cultural centers, folklore centers and other public 397
facilities; (ix) health care facilities, public or private; and 398
(x) fire protection facilities, equipment and elevated water 399
tanks. 400
(e) "Person" means any natural person, corporation, 401
association, partnership, limited liability company, receiver, 402
trustee, guardian, executor, administrator, fiduciary, 403
governmental unit, public agency, political subdivision, or any 404
other group acting as a unit, and the plural as well as the 405
singular. 406
(f) "Project" means: 407
(i) Any industrial, commercial, research and 408
development, warehousing, distribution, transportation, 409
processing, mining, United States government or tourism enterprise 410
together with all real property required for construction, 411
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 18
maintenance and operation of the enterprise with an initial 412
capital investment of not less than Three Hundred Million Dollars 413
($300,000,000.00) from private or United States government sources 414
together with all buildings, and other supporting land and 415
facilities, structures or improvements of whatever kind required 416
or useful for construction, maintenance and operation of the 417
enterprise; or with an initial capital investment of not less than 418
One Hundred Fifty Million Dollars ($150,000,000.00) from private 419
or United States government sources together with all buildings 420
and other supporting land and facilities, structures or 421
improvements of whatever kind required or useful for construction, 422
maintenance and operation of the enterprise and which creates at 423
least one thousand (1,000) net new full-time jobs; or which 424
creates at least one thousand (1,000) net new full-time jobs which 425
provides an average salary, excluding benefits which are not 426
subject to Mississippi income taxation, of at least one hundred 427
twenty-five percent (125%) of the most recently published average 428
annual wage of the state as determined by the Mississippi 429
Department of Employment Security. "Project" shall include any 430
addition to or expansion of an existing enterprise if such 431
addition or expansion has an initial capital investment of not 432
less than Three Hundred Million Dollars ($300,000,000.00) from 433
private or United States government sources, or has an initial 434
capital investment of not less than One Hundred Fifty Million 435
Dollars ($150,000,000.00) from private or United States government 436
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 19
sources together with all buildings and other supporting land and 437
facilities, structures or improvements of whatever kind required 438
or useful for construction, maintenance and operation of the 439
enterprise and which creates at least one thousand (1,000) net new 440
full-time jobs; or which creates at least one thousand (1,000) net 441
new full-time jobs which provides an average salary, excluding 442
benefits which are not subject to Mississippi income taxation, of 443
at least one hundred twenty-five percent (125%) of the most 444
recently published average annual wage of the state as determined 445
by the Mississippi Department of Employment Security. "Project" 446
shall also include any ancillary development or business resulting 447
from the enterprise, of which the authority is notified, within 448
three (3) years from the date that the enterprise entered into 449
commercial production, that the project area has been selected as 450
the site for the ancillary development or business. 451
(ii) 1. Any major capital project designed to 452
improve, expand or otherwise enhance any active duty or reserve 453
United States armed services bases and facilities or any major 454
Mississippi National Guard training installations, their support 455
areas or their military operations, upon designation by the 456
authority that any such base was or is at risk to be recommended 457
for closure or realignment pursuant to the Defense Base Closure 458
and Realignment Act of 1990, as amended, or other applicable 459
federal law; or any major development project determined by the 460
authority to be necessary to acquire or improve base properties 461
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 20
and to provide employment opportunities through construction of 462
projects as defined in Section 57-3-5, which shall be located on 463
or provide direct support service or access to such military 464
installation property in the event of closure or reduction of 465
military operations at the installation. 466
2. Any major study or investigation related 467
to such a facility, installation or base, upon a determination by 468
the authority that the study or investigation is critical to the 469
expansion, retention or reuse of the facility, installation or 470
base. 471
3. Any project as defined in Section 57-3-5, 472
any business or enterprise determined to be in the furtherance of 473
the public purposes of this act as determined by the authority or 474
any facility related to such project each of which shall be, 475
directly or indirectly, related to any military base or other 476
military-related facility no longer operated by the United States 477
armed services or the Mississippi National Guard. 478
(iii) Any enterprise to be maintained, improved or 479
constructed in Tishomingo County by or for a National Aeronautics 480
and Space Administration facility in such county. 481
(iv) 1. Any major capital project with an initial 482
capital investment from private sources of not less than Seven 483
Hundred Fifty Million Dollars ($750,000,000.00) which will create 484
at least three thousand (3,000) jobs meeting criteria established 485
by the Mississippi Development Authority. 486
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 21
2. "Project" shall also include any ancillary 487
development or business resulting from an enterprise operating a 488
project as defined in item 1 of this paragraph (f)(iv), of which 489
the authority is notified, within three (3) years from the date 490
that the enterprise entered into commercial production, that the 491
state has been selected as the site for the ancillary development 492
or business. 493
(v) Any manufacturing, processing or industrial 494
project determined by the authority, in its sole discretion, to 495
contribute uniquely and significantly to the economic growth and 496
development of the state, and which meets the following criteria: 497
1. The project shall create at least two 498
thousand (2,000) net new full-time jobs meeting criteria 499
established by the authority, which criteria shall include, but 500
not be limited to, the requirement that such jobs must be held by 501
persons eligible for employment in the United States under 502
applicable state and federal law. 503
2. The project and any facility related to 504
the project shall include a total investment from private sources 505
of not less than Sixty Million Dollars ($60,000,000.00), or from 506
any combination of sources of not less than Eighty Million Dollars 507
($80,000,000.00). 508
(vi) Any real property owned or controlled by the 509
National Aeronautics and Space Administration, the United States 510
government, or any agency thereof, which is legally conveyed to 511
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 22
the State of Mississippi or to the State of Mississippi for the 512
benefit of the Mississippi Major Economic Impact Authority, its 513
successors and assigns pursuant to Section 212 of Public Law 514
104-99, enacted January 26, 1996 (110 Stat. 26 at 38). 515
(vii) Any major capital project related to the 516
establishment, improvement, expansion and/or other enhancement of 517
any active duty military installation and having a minimum capital 518
investment from any source or combination of sources other than 519
the State of Mississippi of at least Forty Million Dollars 520
($40,000,000.00), and which will create at least four hundred 521
(400) military installation related full-time jobs, which jobs may 522
be military jobs, civilian jobs or a combination of military and 523
civilian jobs. The authority shall require that binding 524
commitments be entered into requiring that the minimum 525
requirements for the project provided for in this subparagraph 526
shall be met not later than July 1, 2008. 527
(viii) Any major capital project with an initial 528
capital investment from any source or combination of sources of 529
not less than Ten Million Dollars ($10,000,000.00) which will 530
create at least eighty (80) full-time jobs which provide an 531
average annual salary, excluding benefits which are not subject to 532
Mississippi income taxes, of at least one hundred thirty-five 533
percent (135%) of the most recently published average annual wage 534
of the state or the most recently published average annual wage of 535
the county in which the project is located as determined by the 536
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 23
Mississippi Department of Employment Security, whichever is the 537
lesser. The authority shall require that binding commitments be 538
entered into requiring that: 539
1. The minimum requirements for the project 540
provided for in this subparagraph shall be met; and 541
2. That if such commitments are not met, all 542
or a portion of the funds provided by the state for the project as 543
determined by the authority shall be repaid. 544
(ix) Any regional retail shopping mall with an 545
initial capital investment from private sources in excess of One 546
Hundred Fifty Million Dollars ($150,000,000.00), with a square 547
footage in excess of eight hundred thousand (800,000) square feet, 548
which will create at least seven hundred (700) full-time jobs with 549
an average hourly wage of Eleven Dollars ($11.00) per hour. The 550
authority shall require that binding commitments be entered into 551
requiring that: 552
1. The minimum requirements for the project 553
provided for in this subparagraph shall be met; and 554
2. That if such commitments are not met, all 555
or a portion of the funds provided by the state for the project as 556
determined by the authority shall be repaid. 557
(x) Any major capital project with an initial 558
capital investment from any source or combination of sources of 559
not less than Seventy-five Million Dollars ($75,000,000.00) which 560
will create at least one hundred twenty-five (125) full-time jobs 561
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 24
which provide an average annual salary, excluding benefits which 562
are not subject to Mississippi income taxes, of at least one 563
hundred thirty-five percent (135%) of the most recently published 564
average annual wage of the state or the most recently published 565
average annual wage of the county in which the project is located 566
as determined by the Mississippi Department of Employment 567
Security, whichever is the greater. The authority shall require 568
that binding commitments be entered into requiring that: 569
1. The minimum requirements for the project 570
provided for in this subparagraph shall be met; and 571
2. That if such commitments are not met, all 572
or a portion of the funds provided by the state for the project as 573
determined by the authority shall be repaid. 574
(xi) Any potential major capital project that the 575
authority has determined is feasible to recruit. 576
(xii) Any project built according to the 577
specifications and federal provisions set forth by the National 578
Aeronautics and Space Administration Center Operations Directorate 579
at Stennis Space Center for the purpose of consolidating common 580
services from National Aeronautics and Space Administration 581
centers in human resources, procurement, financial management and 582
information technology located on land owned or controlled by the 583
National Aeronautics and Space Administration, which will create 584
at least four hundred seventy (470) full-time jobs. 585
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 25
(xiii) Any major capital project with an initial 586
capital investment from any source or combination of sources of 587
not less than Ten Million Dollars ($10,000,000.00) which will 588
create at least two hundred fifty (250) full-time jobs. The 589
authority shall require that binding commitments be entered into 590
requiring that: 591
1. The minimum requirements for the project 592
provided for in this subparagraph shall be met; and 593
2. That if such commitments are not met, all 594
or a portion of the funds provided by the state for the project as 595
determined by the authority shall be repaid. 596
(xiv) Any major pharmaceutical facility with a 597
capital investment of not less than Fifty Million Dollars 598
($50,000,000.00) made after July 1, 2002, through four (4) years 599
after the initial date of any loan or grant made by the authority 600
for such project, which will maintain at least seven hundred fifty 601
(750) full-time employees. The authority shall require that 602
binding commitments be entered into requiring that: 603
1. The minimum requirements for the project 604
provided for in this subparagraph shall be met; and 605
2. That if such commitments are not met, all 606
or a portion of the funds provided by the state for the project as 607
determined by the authority shall be repaid. 608
(xv) Any pharmaceutical manufacturing, packaging 609
and distribution facility with an initial capital investment from 610
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 26
any local or federal sources of not less than Five Hundred 611
Thousand Dollars ($500,000.00) which will create at least ninety 612
(90) full-time jobs. The authority shall require that binding 613
commitments be entered into requiring that: 614
1. The minimum requirements for the project 615
provided for in this subparagraph shall be met; and 616
2. That if such commitments are not met, all 617
or a portion of the funds provided by the state for the project as 618
determined by the authority shall be repaid. 619
(xvi) Any major industrial wood processing 620
facility with an initial capital investment of not less than One 621
Hundred Million Dollars ($100,000,000.00) which will create at 622
least one hundred twenty-five (125) full-time jobs which provide 623
an average annual salary, excluding benefits which are not subject 624
to Mississippi income taxes, of at least Thirty Thousand Dollars 625
($30,000.00). The authority shall require that binding 626
commitments be entered into requiring that: 627
1. The minimum requirements for the project 628
provided for in this subparagraph shall be met; and 629
2. That if such commitments are not met, all 630
or a portion of the funds provided by the state for the project as 631
determined by the authority shall be repaid. 632
(xvii) Any technical, engineering, 633
manufacturing-logistic service provider with an initial capital 634
investment of not less than One Million Dollars ($1,000,000.00) 635
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 27
which will create at least ninety (90) full-time jobs. The 636
authority shall require that binding commitments be entered into 637
requiring that: 638
1. The minimum requirements for the project 639
provided for in this subparagraph shall be met; and 640
2. That if such commitments are not met, all 641
or a portion of the funds provided by the state for the project as 642
determined by the authority shall be repaid. 643
(xviii) Any major capital project with an initial 644
capital investment from any source or combination of sources other 645
than the State of Mississippi of not less than Six Hundred Million 646
Dollars ($600,000,000.00) which will create at least four hundred 647
fifty (450) full-time jobs with an average annual salary, 648
excluding benefits which are not subject to Mississippi income 649
taxes, of at least Seventy Thousand Dollars ($70,000.00). The 650
authority shall require that binding commitments be entered into 651
requiring that: 652
1. The minimum requirements for the project 653
provided for in this subparagraph shall be met; and 654
2. That if such commitments are not met, all 655
or a portion of the funds provided by the state for the project as 656
determined by the authority shall be repaid. 657
(xix) Any major coal and/or petroleum coke 658
gasification project with an initial capital investment from any 659
source or combination of sources other than the State of 660
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 28
Mississippi of not less than Eight Hundred Million Dollars 661
($800,000,000.00), which will create at least two hundred (200) 662
full-time jobs with an average annual salary, excluding benefits 663
which are not subject to Mississippi income taxes, of at least 664
Forty-five Thousand Dollars ($45,000.00). The authority shall 665
require that binding commitments be entered into requiring that: 666
1. The minimum requirements for the project 667
provided for in this subparagraph shall be met; and 668
2. That if such commitments are not met, all 669
or a portion of the funds provided by the state for the project as 670
determined by the authority shall be repaid. 671
(xx) Any planned mixed use development located on 672
not less than four thousand (4,000) acres of land that will 673
consist of commercial, recreational, resort, tourism and 674
residential development with a capital investment from private 675
sources of not less than Four Hundred Seventy-five Million Dollars 676
($475,000,000.00) in the aggregate in any one (1) or any 677
combination of tourism projects that will create at least three 678
thousand five hundred (3,500) jobs in the aggregate. For the 679
purposes of this paragraph (f)(xx), the term "tourism project" 680
means and has the same definition as that term has in Section 681
57-28-1. In order to meet the minimum capital investment required 682
under this paragraph (f)(xx), at least Two Hundred Thirty-seven 683
Million Five Hundred Thousand Dollars ($237,500,000.00) of such 684
investment must be made not later than June 1, 2015, and the 685
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 29
remainder of the minimum capital investment must be made not later 686
than June 1, 2017. In order to meet the minimum number of jobs 687
required to be created under this paragraph (f)(xx), at least one 688
thousand seven hundred fifty (1,750) of such jobs must be created 689
not later than June 1, 2015, and the remainder of the jobs must be 690
created not later than June 1, 2017. The authority shall require 691
that binding commitments be entered into requiring that: 692
1. The minimum requirements for the project 693
provided for in this subparagraph shall be met; and 694
2. That if such commitments are not met, all 695
or a portion of the funds provided by the state for the project as 696
determined by the authority shall be repaid. 697
(xxi) Any enterprise owning or operating an 698
automotive manufacturing and assembly plant and its affiliates for 699
which construction begins after March 2, 2007, and not later than 700
December 1, 2007, with an initial capital investment from private 701
sources of not less than Five Hundred Million Dollars 702
($500,000,000.00) which will create at least one thousand five 703
hundred (1,500) jobs meeting criteria established by the 704
authority, which criteria shall include, but not be limited to, 705
the requirement that such jobs must be held by persons eligible 706
for employment in the United States under applicable state and 707
federal law. The authority shall require that binding commitments 708
be entered into requiring that: 709
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 30
1. The minimum requirements for the project 710
provided for in this subparagraph shall be met; and 711
2. That if such commitments are not met, all 712
or a portion of the funds provided by the state for the project as 713
determined by the authority shall be repaid. 714
(xxii) Any enterprise owning or operating a major 715
powertrain component manufacturing and assembly plant for which 716
construction begins after May 11, 2007, and not later than 717
December 1, 2007, with an initial capital investment from private 718
sources of not less than Three Hundred Million Dollars 719
($300,000,000.00) which will create at least five hundred (500) 720
new full-time jobs meeting criteria established by the authority, 721
which criteria shall include, but not be limited to, the 722
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 wages and taxable 725
benefits of such jobs shall be at least one hundred twenty-five 726
percent (125%) of the most recently published average annual wage 727
of the state or the most recently published average annual wage of 728
the county in which the project is located as determined by the 729
Mississippi Department of Employment Security, whichever is the 730
lesser. The authority shall require that binding commitments be 731
entered into requiring that: 732
1. The minimum requirements for the project 733
provided for in this subparagraph shall be met; and 734
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 31
2. That if such commitments are not met, all 735
or a portion of the funds provided by the state for the project as 736
determined by the authority shall be repaid. 737
(xxiii) Any biological and agricultural defense 738
project operated by an agency of the government of the United 739
States with an initial capital investment of not less than Four 740
Hundred Fifty Million Dollars ($450,000,000.00) from any source 741
other than the State of Mississippi and its subdivisions, which 742
will create at least two hundred fifty (250) new full-time jobs. 743
All jobs created by the project must be held by persons eligible 744
for employment in the United States under applicable state and 745
federal law. 746
(xxiv) Any enterprise owning or operating an 747
existing tire manufacturing plant which adds to such plant capital 748
assets of not less than Twenty-five Million Dollars 749
($25,000,000.00) after January 1, 2009, and that maintains at 750
least one thousand two hundred (1,200) full-time jobs in this 751
state at one (1) location with an average annual salary, excluding 752
benefits which are not subject to Mississippi income taxes, of at 753
least Forty-five Thousand Dollars ($45,000.00). The authority 754
shall require that binding commitments be entered into requiring 755
that: 756
1. The minimum requirements for the project 757
provided for in this subparagraph shall be met; and 758
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 32
2. That if such commitments are not met, all 759
or a portion of the funds provided by the state for the project as 760
determined by the authority shall be repaid. 761
(xxv) Any enterprise owning or operating a 762
facility for the manufacture of composite components for the 763
aerospace industry which will have an investment from private 764
sources of not less than One Hundred Seventy-five Million Dollars 765
($175,000,000.00) by not later than December 31, 2015, and which 766
will result in the full-time employment at the project site of not 767
less than two hundred seventy-five (275) persons by December 31, 768
2011, and not less than four hundred twenty-five (425) persons by 769
December 31, 2013, and not less than eight hundred (800) persons 770
by December 31, 2017, all with an average annual compensation, 771
excluding benefits which are not subject to Mississippi income 772
taxes, of at least Fifty-three Thousand Dollars ($53,000.00). The 773
authority shall require that binding commitments be entered into 774
requiring that: 775
1. The minimum requirements for the project 776
provided for in this subparagraph shall be met; and 777
2. That if such commitments are not met, all 778
or a portion of the funds provided by the state for the project as 779
determined by the authority shall be repaid. 780
(xxvi) Any enterprise owning or operating a 781
facility for the manufacture of pipe which will have an investment 782
from any source other than the State of Mississippi and its 783
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 33
subdivisions of not less than Three Hundred Million Dollars 784
($300,000,000.00) by not later than December 31, 2015, and which 785
will create at least five hundred (500) new full-time jobs within 786
five (5) years after the start of commercial production and 787
maintain such jobs for at least ten (10) years, all with an 788
average annual compensation, excluding benefits which are not 789
subject to Mississippi income taxes, of at least Thirty-two 790
Thousand Dollars ($32,000.00). The authority shall require that 791
binding commitments be entered into requiring that: 792
1. The minimum requirements for the project 793
provided for in this subparagraph shall be met; and 794
2. That if such commitments are not met, all 795
or a portion of the funds provided by the state for the project as 796
determined by the authority shall be repaid. 797
(xxvii) Any enterprise owning or operating a 798
facility for the manufacture of solar panels which will have an 799
investment from any source other than the State of Mississippi and 800
its subdivisions of not less than One Hundred Thirty-two Million 801
Dollars ($132,000,000.00) by not later than December 31, 2015, and 802
which will create at least five hundred (500) new full-time jobs 803
within five (5) years after the start of commercial production and 804
maintain such jobs for at least ten (10) years, all with an 805
average annual compensation, excluding benefits which are not 806
subject to Mississippi income taxes, of at least Thirty-four 807
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 34
Thousand Dollars ($34,000.00). The authority shall require that 808
binding commitments be entered into requiring that: 809
1. The minimum requirements for the project 810
provided for in this subparagraph shall be met; and 811
2. That if such commitments are not met, all 812
or a portion of the funds provided by the state for the project as 813
determined by the authority shall be repaid. 814
(xxviii) 1. Any enterprise owning or operating an 815
automotive parts manufacturing plant and its affiliates for which 816
construction begins after June 1, 2013, and not later than June 817
30, 2014, with an initial capital investment of not less than 818
Three Hundred Million Dollars ($300,000,000.00) which will create 819
at least five hundred (500) new full-time jobs meeting criteria 820
established by the authority, which criteria shall include, but 821
not be limited to, the requirement that such jobs must be held by 822
persons eligible for employment in the United States under 823
applicable state and federal law, and the requirement that the 824
average annual wages and taxable benefits of such jobs shall be at 825
least one hundred ten percent (110%) of the most recently 826
published average annual wage of the state or the most recently 827
published average annual wage of the county in which the project 828
is located as determined by the Mississippi Department of 829
Employment Security, whichever is the lesser. The authority shall 830
require that binding commitments be entered into requiring that: 831
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 35
a. The minimum requirements for the 832
project provided for in this subparagraph shall be met; and 833
b. That if such commitments are not met, 834
all or a portion of the funds provided by the state for the 835
project as determined by the authority shall be repaid. 836
2. It is anticipated that the project defined 837
in this subparagraph (xxviii) will expand in three (3) additional 838
phases, will create an additional five hundred (500) full-time 839
jobs meeting the above criteria in each phase, and will invest an 840
additional Three Hundred Million Dollars ($300,000,000.00) per 841
phase. 842
(xxix) Any enterprise engaged in the manufacture 843
of tires or other related rubber or automotive products for which 844
construction of a plant begins after January 1, 2016, and is 845
substantially completed no later than December 31, 2022, and for 846
which such enterprise commits to an aggregate capital investment 847
by such enterprise and its affiliates of not less than One Billion 848
Four Hundred Fifty Million Dollars ($1,450,000,000.00) and the 849
creation thereby of at least two thousand five hundred (2,500) new 850
full-time jobs meeting criteria established by the authority, 851
which criteria shall include, but not be limited to, the 852
requirement that such jobs must be held by persons eligible for 853
employment in the United States under applicable state and federal 854
law, and the requirement that the average annual salary or wage, 855
excluding the value of any benefits which are not subject to 856
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 36
Mississippi income tax, of such jobs shall be at least Forty 857
Thousand Dollars ($40,000.00). The authority shall require that 858
binding commitments be entered into requiring that: 859
1. Minimum requirements for investment and 860
jobs for the project shall be met; and 861
2. If such requirements are not met, all or a 862
portion of the funds provided by the state for the project may, as 863
determined by the authority, be subject to repayment by such 864
enterprise and/or its affiliates, together with any penalties or 865
damages required by the authority in connection therewith. 866
(xxx) Any enterprise owning or operating a 867
maritime fabrication and assembly facility for which construction 868
begins after February 1, 2016, and concludes not later than 869
December 31, 2018, with an initial capital investment in land, 870
buildings and equipment not less than Sixty-eight Million Dollars 871
($68,000,000.00) and will create not less than one thousand 872
(1,000) new full-time jobs meeting criteria established by the 873
authority, which criteria shall include, but not be limited to, 874
the requirement that such jobs must be held by persons eligible 875
for employment in the United States under applicable state and 876
federal law, and the requirement that the average annual 877
compensation, excluding benefits which are not subject to 878
Mississippi income taxes, of at least Forty Thousand Dollars 879
($40,000.00). The authority shall require that binding 880
commitments be entered into requiring that: 881
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 37
1. The minimum requirements for the project 882
provided for in this subparagraph shall be met; and 883
2. If such commitments are not met, all or a 884
portion of the funds provided by the state for the project may, as 885
determined by the authority, be subject to repayment by such 886
enterprise, together with any penalties or damages required by the 887
authority in connection therewith. 888
(xxxi) Each of the projects defined in this 889
paragraph (f)(xxxi)1 and 2 that are undertaken by affiliated 890
enterprises, together with any or all of the projects defined in 891
this paragraph (f)(xxxi)3 and/or 4 if they are undertaken by the 892
same or other enterprises affiliated with those enterprises that 893
undertake projects defined in this paragraph (f)(xxxi)1 and 2: 894
1. An enterprise engaged in the manufacturing 895
and production of recycled flat-rolled aluminum or related 896
products for which construction of a recycled aluminum flat-rolled 897
mill begins after January 1, 2023, and is substantially completed 898
no later than December 31, 2026; and 899
2. An enterprise engaged in the manufacturing 900
and production of biocarbon from biomass for which construction of 901
the biocarbon manufacturing facility begins after December 1, 902
2022, and is substantially completed no later than December 31, 903
2026; provided that such series of projects may additionally, but 904
shall not be required to, include: 905
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 38
3. Any other affiliated enterprise that 906
undertakes the development and operation of a new industrial or 907
commercial facility in the state, excluding any area or areas 908
designated by the authority in a written agreement between such 909
enterprise or any affiliate thereof, for which the construction of 910
any such facility begins after January 1, 2023, and is 911
substantially completed no later than December 31, 2029; and/or 912
4. An enterprise engaged in the development 913
and operation of port activities (e.g., the loading and unloading 914
of barges, rail cars and trucks, the storage and handling of 915
materials, and other port-related operations) in support of all or 916
any of the enterprises enumerated in this paragraph (f)(xxxi)1, 2 917
and 3, or otherwise in support of an existing electric arc furnace 918
steel mill producing flat-rolled steel and related products; and 919
for which the parent enterprise of such affiliated enterprises 920
enumerated in this paragraph (f)(xxxi)1, 2, 3 and/or 4 commits to 921
an aggregate, collective capital investment by one or more or any 922
combination of such enterprises and their affiliates, as well as 923
by any co-located customers, of not less than Two Billion Five 924
Hundred Million Dollars ($2,500,000,000.00) and the creation 925
thereby of at least one thousand (1,000) new full-time jobs 926
meeting criteria established by the authority, which criteria 927
shall include, but not be limited to, the requirement that such 928
jobs must be held by persons eligible for employment in the United 929
States under applicable state and federal law, and the requirement 930
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 39
that the average annual salary or wage, excluding the value of any 931
benefits which are not subject to Mississippi income tax, of such 932
jobs shall be at least Ninety-three Thousand Dollars ($93,000.00). 933
The authority shall require that binding commitments be entered 934
into requiring that: 935
a. Minimum requirements for investment 936
and jobs for such affiliated projects shall be met; and 937
b. If such requirements are not 938
collectively met, all or a portion of the funds provided by the 939
state for such affiliated projects may, as determined by the 940
authority, be subject to repayment by such enterprises and/or 941
their affiliates, together with any penalties or damages required 942
by the authority in connection therewith. 943
For purposes of this paragraph (f)(xxxi), A. a co-located 944
customer shall mean a person who locates and operates any new 945
manufacturing, processing, warehousing and/or distribution 946
facility within the project area for the project defined in this 947
paragraph (f)(xxxi)1 and utilizes, directly or indirectly, in its 948
operations any aluminum or related products produced by such 949
project, and B. an affiliated enterprise or an affiliate means a 950
related business entity which shares a common direct or indirect 951
ownership with the enterprise owning or operating a project as 952
defined in this paragraph (f)(xxxi)1, 2, 3 or 4. References in 953
the act to a project, as defined by this paragraph (f)(xxxi) shall 954
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 40
mean any one of, any combination or all of the projects as defined 955
in this paragraph (f)(xxxi)1, 2, 3 or 4. 956
(xxxii) Any enterprise engaged in the manufacture 957
and assembly of battery cells for electric commercial vehicles and 958
industrial applications, for which construction of a manufacturing 959
and assembly plant begins after January 1, 2024, and the 960
manufacturing and assembly of battery cells thereby commences on 961
or prior to December 31, 2029, and for which such enterprise 962
commits to an aggregate, collective capital investment by such 963
enterprise, one or more affiliates of such enterprise or any 964
combination of such enterprise and its affiliates, of not less 965
than One Billion Nine Hundred Million Dollars ($1,900,000,000.00) 966
and the creation by such enterprise, one or more affiliates of 967
such enterprise or any combination of such enterprise and its 968
affiliates, as well as by any other co-located project 969
participant, of at least two thousand (2,000) new full-time jobs 970
meeting criteria established by the authority, which criteria 971
shall include, but not be limited to, the requirement that such 972
jobs must be held by persons eligible for employment in the United 973
States under applicable state and federal law, and the requirement 974
that the average annual salary or wage, excluding the value of any 975
benefits which are not subject to Mississippi income tax prior to 976
January 1, 2024, of such jobs shall be at least Sixty-five 977
Thousand Five Hundred Sixty-four Dollars ($65,564.00). The 978
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 41
authority shall require that binding commitments be entered into 979
requiring that: 980
1. Minimum requirements for investment and 981
jobs for such affiliated projects shall be met; and 982
2. If such requirements are not collectively 983
met, all or a portion of the funds provided by the state for such 984
project may, as determined by the authority, be subject to 985
repayment by such enterprise and/or its affiliates, together with 986
any penalties or damages required by the authority in connection 987
therewith. 988
For purposes of this paragraph (f)(xxxii), a co-located 989
project participant shall mean a person or business entity that, 990
pursuant to one or more contracts with an enterprise owning or 991
operating a project as defined in this paragraph (f)(xxxii) or an 992
affiliate thereof, performs within the project area one or more of 993
the following: a. storage, handling and processing services for 994
raw materials, work in process and/or finished goods inventories; 995
b. maintenance, operation and/or other servicing of equipment and 996
machinery used in the project; c. management of real and tangible 997
personal property used in the project; d. any manufacturing, 998
processing or assembly work, in each instance with respect to the 999
manufacturing and/or assembly of battery cells for electric 1000
commercial vehicles or industrial applications manufactured or 1001
otherwise assembled within the project area by such enterprise or 1002
an affiliate thereof; or e. the supply to such enterprise or any 1003
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 42
affiliate thereof of any components, parts or materials of any 1004
battery cells for electric commercial vehicles or industrial 1005
applications manufactured or otherwise assembled within the 1006
project area by such enterprise or any affiliate thereof. 1007
(xxxiii) Any enterprise engaged in data 1008
processing, for which construction of a data processing facility 1009
or facilities begins after January 1, 2024, the processing of data 1010
by at least one (1) data processing facility commences on or prior 1011
to December 31, 2027, and for which such enterprise commits to an 1012
aggregate, collective capital investment by such enterprise, one 1013
or more affiliates of such enterprise or any combination of such 1014
enterprise and its affiliates, of not less than Ten Billion 1015
Dollars ($10,000,000,000.00) and the creation by such enterprise, 1016
one or more affiliates or contractors of such enterprise or any 1017
combination of such enterprises and its affiliates, as well as by 1018
any other co-located project participant, of at least one thousand 1019
(1,000) new full-time jobs meeting criteria established by the 1020
authority, which criteria shall include, but not be limited to, 1021
the requirement that such jobs must be held by persons eligible 1022
for employment in the United States under applicable state and 1023
federal law, and the requirement that the average annual salary or 1024
wage, excluding the value of any benefits which are not subject to 1025
Mississippi income tax prior to January 1, 2024, of such jobs 1026
shall be at least one hundred twenty-five percent (125%) of the 1027
published average annual wage of the state as determined by the 1028
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 43
Mississippi Department of Employment Security. The authority 1029
shall require that binding commitments be entered into requiring 1030
that: 1031
1. Minimum requirements for investment and 1032
jobs for such affiliated projects shall be met; and 1033
2. If such requirements are not collectively 1034
met, all or a portion of the funds provided by the state for such 1035
project may, as determined by the authority, be subject to 1036
repayment by such enterprise and/or its affiliates, together with 1037
any penalties or damages required by the authority in connection 1038
therewith. 1039
For purposes of this paragraph (f)(xxxiii), a co-located 1040
project participant shall mean a person or business entity that, 1041
pursuant to one or more contracts with an enterprise owning or 1042
operating a project as defined in this paragraph (f)(xxxiii) or an 1043
affiliate thereof, performs within the project area one or more of 1044
the following: a. maintenance, operation and/or other servicing 1045
of equipment and machinery used in the project; b. management of 1046
real and tangible personal property used in the project; or c. the 1047
supply to such enterprise or any affiliate thereof of any 1048
components, parts or services within the project area by such 1049
enterprise or any affiliate thereof. 1050
For purposes of this paragraph (f)(xxxiii), "project" shall 1051
include the construction of additional data processing facilities 1052
or the expansion of existing data processing facilities within the 1053
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 44
state by the enterprise, one or more affiliates of such 1054
enterprise, or any combination of such enterprise and its 1055
affiliates, if such construction or expansion has a minimum 1056
capital investment of Five Hundred Million Dollars 1057
($500,000,000.00) and creates at least fifty (50) net new 1058
full-time jobs and written notice thereof is provided to the 1059
authority. 1060
(g) (i) "Project area" means the project site, 1061
together with any area or territory within the state lying within 1062
sixty-five (65) miles of any portion of the project site whether 1063
or not such area or territory be contiguous; however, for the 1064
project defined in paragraph (f)(iv) and (xxxiii) of this section 1065
the term "project area" means any area or territory within the 1066
state. The project area shall also include all territory within a 1067
county if any portion of such county lies within sixty-five (65) 1068
miles of any portion of the project site. "Project site" means 1069
the real property on which the principal facilities of the 1070
enterprise will operate; however, for the project defined in 1071
paragraph (f)(xxxiii) of this section, the term "project site" 1072
means any area or territory within the state upon which an 1073
enterprise constructs one or more data processing facilities. The 1074
provisions of this subparagraph (i) shall not apply to a project 1075
as defined in paragraph (f)(xxi) of this section. 1076
(ii) For the purposes of a project as defined in 1077
paragraph (f)(xxi) of this section, the term "project area" means 1078
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 45
the acreage authorized in the certificate of convenience and 1079
necessity issued by the Mississippi Development Authority to a 1080
regional economic development alliance under Section 57-64-1 et 1081
seq. 1082
(iii) For the purposes of a project as defined in 1083
either paragraph (f)(xxxi)1 or paragraph (f)(xxxii) of this 1084
section, the term "project area" means the acreage specified by 1085
the authority in written agreement with the enterprise undertaking 1086
such project and/or an affiliate thereof. 1087
(h) "Public agency" means: 1088
(i) Any department, board, commission, institution 1089
or other agency or instrumentality of the state; 1090
(ii) Any city, town, county, political 1091
subdivision, school district or other district created or existing 1092
under the laws of the state or any public agency of any such city, 1093
town, county, political subdivision or district or any other 1094
public entity created or existing under local and private 1095
legislation; 1096
(iii) Any department, commission, agency or 1097
instrumentality of the United States of America; and 1098
(iv) Any other state of the United States of 1099
America which may be cooperating with respect to location of the 1100
project within the state, or any agency thereof. 1101
(i) "State" means State of Mississippi. 1102
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 46
(j) "Fee-in-lieu" means a negotiated fee to be paid by 1103
the project in lieu of any franchise taxes imposed on the project 1104
by Chapter 13, Title 27, Mississippi Code of 1972. The 1105
fee-in-lieu shall not be less than Twenty-five Thousand Dollars 1106
($25,000.00) annually. A fee-in-lieu may be negotiated with an 1107
enterprise operating an existing project defined in paragraph 1108
(f)(iv)1 of this section; however, a fee-in-lieu shall not be 1109
negotiated for other existing enterprises that fall within the 1110
definition of the term "project." 1111
(k) (i) "Affiliate" means a subsidiary or related 1112
business entity which shares a common direct or indirect ownership 1113
with the enterprise owning or operating a project as defined in 1114
paragraph (f)(xxi), paragraph (f)(xxviii) or paragraph (f)(xxix) 1115
of this section. The subsidiary or related business must provide 1116
services directly related to the core activities of the project. 1117
(ii) For the purposes of a project as defined in 1118
paragraph (f)(xxxi) of this section, an "affiliated enterprise" or 1119
an "affiliate" means a related business entity which shares a 1120
common direct or indirect ownership with the enterprise owning or 1121
operating a project as defined in paragraph (f)(xxxi)1, 2, 3 or 4 1122
of this section. 1123
(iii) For the purposes of a project as defined in 1124
paragraph (f)(xxxii) of this section, an "affiliated enterprise" 1125
or an "affiliate" means a related business entity which shares a 1126
common direct or indirect ownership with the enterprise owning or 1127
S. B. No. 2862 *SS36/R591CS* ~ OFFICIAL ~
26/SS36/R591CS
PAGE 47
ST: Mississippi Major Economic Impact Act;
bring forward code sections regarding certain
projects.
operating a project as defined in paragraph (f)(xxxii) of this 1128
section. 1129
(iv) For the purposes of a project as defined in 1130
paragraph (f)(xxxiii) of this section, an "affiliated enterprise" 1131
or an "affiliate" means a related business entity which shares a 1132
common direct or indirect ownership with the enterprise owning or 1133
operating a project as defined in paragraph (f)(xxxiii) of this 1134
section; provided, any such related business entity may be 1135
excluded from this definition pursuant to the terms of a written 1136
agreement between the authority and the enterprise owning or 1137
operating a project as defined in paragraph (f)(xxxiii) of this 1138
section. 1139
(l) "Tier One supplier" means a supplier of a project 1140
as defined in paragraph (f)(xxi) of this section that is certified 1141
by the enterprise owning the project and creates a minimum of 1142
fifty (50) new full-time jobs. 1143
SECTION 4. This act shall take effect and be in force from 1144
and after July 1, 2026, and shall stand repealed June 30, 2026. 1145