House Bill 2

AN ACT TO AMEND SECTION 25, CHAPTER 533, LAWS OF 2010, AS LAST AMENDED BY SECTION 6, CHAPTER 480, LAWS OF 2011, TO INCREASE BY $175,000,000.00 THE AMOUNT OF BONDS AUTHORIZED TO BE ISSUED FOR THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND; TO AMEND SECTION 57-1-221, MISSISSIPPI CODE OF 1972, TO CLARIFY THE TERM "LOCAL GOVERNMENTS" UNDER THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND PROGRAM AND TO AUTHORIZE LOCAL GOVERNMENTS TO SELL, LEASE OR OTHERWISE DISPOSE OF A PROJECT DEFINED UNDER THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND PROGRAM OR ANY PROPERTY RELATED TO SUCH PROJECT IN WHOLE OR IN PART; TO PROVIDE THAT APPROVED BUSINESS ENTERPRISES THAT RECEIVE ASSISTANCE FROM THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND AFTER THE EFFECTIVE DATE OF THIS ACT SHALL AGREE TO TAKE REASONABLE STEPS TO ENSURE THAT SOCIALLY AND ECONOMICALLY DISADVANTAGED INDIVIDUALS HAVE AN OPPORTUNITY TO BE CONSIDERED FOR PARTICIPATION IN THE PERFORMANCE OF CONTRACTS AND SUBCONTRACTS FINANCED IN WHOLE OR IN PART WITH FUNDS PROVIDED FROM THE MISSISSIPPI INDUSTRY INCENTIVE REVOLVING FUND; TO AMEND SECTION 57-62-5, MISSISSIPPI CODE OF 1972, TO EXPAND THE DEFINITION OF THE TERM "QUALIFIED BUSINESS OR INDUSTRY" UNDER THE MISSISSIPPI ADVANTAGE JOBS ACT TO INCLUDE A CORPORATION, LIMITED LIABILITY COMPANY, PARTNERSHIP, SOLE PROPRIETORSHIP, BUSINESS TRUST OR OTHER LEGAL ENTITY AND SUBUNITS OR AFFILIATES THEREOF WHICH IS A MANUFACTURER THAT PROVIDES AN AVERAGE ANNUAL SALARY, EXCLUDING BENEFITS WHICH ARE NOT SUBJECT TO MISSISSIPPI INCOME TAXES, OF AT LEAST 110% OF THE MOST RECENTLY PUBLISHED STATE AVERAGE ANNUAL WAGE OR THE MOST RECENTLY PUBLISHED AVERAGE ANNUAL WAGE OF THE COUNTY IN WHICH THE QUALIFIED BUSINESS OR INDUSTRY IS LOCATED, WHICHEVER IS THE LESSER, THAT HAS A MINIMUM OF 5,000 EXISTING EMPLOYEES AS OF THE LAST DAY OF A CALENDAR YEAR, AND THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY DETERMINES WILL CREATE NOT LESS THAN 3,000 NEW DIRECT JOBS WITHIN 48 MONTHS OF THE DATE THE MDA DETERMINES THAT THE APPLICANT IS QUALIFIED TO RECEIVE INCENTIVE PAYMENTS UNDER THE ACT; TO AMEND SECTION 57-62-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT SUCH A QUALIFIED BUSINESS OR INDUSTRY MAY ELECT THE DATE UPON WHICH THE TEN-YEAR INCENTIVE PAYMENT WILL BEGIN AND BEGIN RECEIVING INCENTIVE PAYMENTS AS EARLY AS THE SECOND QUARTER AFTER THAT DATE; TO PROVIDE THAT SUCH INCENTIVE PAYMENTS WILL BE CALCULATED ON ALL JOBS ABOVE THE EXISTING NUMBER OF JOBS AS OF THE DATE THE MDA DETERMINES THAT THE APPLICANT IS QUALIFIED TO RECEIVE INCENTIVE PAYMENTS; TO PROVIDE THAT IN THE EVENT THAT SUCH A QUALIFIED BUSINESS OR INDUSTRY FALLS BELOW THE NUMBER OF EXISTING JOBS AT THE TIME OF DETERMINATION THAT THE APPLICANT IS QUALIFIED TO RECEIVE THE INCENTIVE PAYMENT, THE INCENTIVE PAYMENT SHALL CEASE UNTIL THE QUALIFIED BUSINESS OR INDUSTRY ONCE AGAIN EXCEEDS THAT NUMBER; TO PROVIDE THAT IF AFTER 48 MONTHS, THE QUALIFIED BUSINESS OR INDUSTRY HAS FAILED TO CREATE AT LEAST 3,000 JOBS, INCENTIVE PAYMENTS SHALL CEASE AND THE QUALIFIED BUSINESS OR INDUSTRY SHALL NOT BE QUALIFIED TO RECEIVE FURTHER INCENTIVE PAYMENTS; TO AMEND SECTION 57-62-13, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS IN THE AMOUNT OF $2,000,000.00 TO PROVIDE FUNDS FOR THE PURPOSE OF FUNDING A STUDY TO DETERMINE IF THERE IS A STATISTICAL DISPARITY IN THE NUMBER OF MINORITY CONTRACTORS DOING BUSINESS WITH THE STATE OF MISSISSIPPI; AND FOR RELATED PURPOSES.

In the House of Representatives

• Percy W. Watson

  Sponsor

• House of Representatives floor amendmentPending

• Senate committee amendmentAdopted

  Adopted Sep 2

l9n doesn't hold this bill's text yet.

In the House of Representatives Sep 2

1. Sep 2Referred to the House committee on Ways and Means
2. Reported from committee in the House: title sufficient, do pass
3. Amendment failed in the House
4. Passed the House

In the Senate Sep 2

1. Sep 2Released in the House to be sent on at once
2. Sent to the Senate
3. Referred to the Senate committee on Finance
4. Reported from committee in the Senate: title sufficient, do pass as amended
5. Amended in the Senate
6. Passed the Senate as amended

To the Governor Sep 2

1. Sep 2Released in the Senate to be sent on at once
2. Returned to the House to concur in the Senate's amendments
3. Died on the calendar in the House