Did not become law. It stopped in the Senate's Finance Committee on March 28, 2012. The 2012 session has ended.
2012 Regular Session
Senate Bill 2953
Franchise and sales tax exemption; MDA may grant businesses that receive funds from the Industry Incentive Financing Revolving Fund.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO AMEND SECTIONS 27-13-5 AND 27-13-7, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO GRANT AN APPROVED BUSINESS ENTERPRISE THAT IS APPROVED FOR A LOAN OR GRANT FROM THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND, AN EXEMPTION FROM THE FRANCHISE TAX FOR A PERIOD OF TIME NOT TO EXCEED 10 YEARS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO GRANT A BUSINESS ENTERPRISE THAT INVESTS A MINIMUM OF $20,000,000.00 IN BUILDINGS AND EQUIPMENT AND CREATES A MINIMUM OF 50 NEW FULL-TIME JOBS, AN EXEMPTION FROM THE FRANCHISE TAX FOR A PERIOD OF TIME NOT TO EXCEED 10 YEARS; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM SALES TAXATION SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A PROJECT, OR ANY ADDITION OR IMPROVEMENT TO THE PROJECT, AND SALES OR LEASES OF MACHINERY AND EQUIPMENT NOT LATER THAN THREE MONTHS AFTER THE COMPLETION OF CONSTRUCTION OF THE PROJECT, OR ANY ADDITION OR IMPROVEMENT TO THE PROJECT, TO BE USED IN THE BUILDING OR ADDITION OR IMPROVEMENT, TO AN APPROVED BUSINESS ENTERPRISE THAT RECEIVES A GRANT OR LOAN FROM THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND, IF THE MISSISSIPPI DEVELOPMENT AUTHORITY AUTHORIZES THE EXEMPTION IN AN AGREEMENT WITH THE APPROVED BUSINESS ENTERPRISE; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the Senate
Sponsor
Its course
March 15 to March 28, 2012, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the SenateMar 15 to Mar 28 · stopped13 days
FinanceMar 15 to Mar 28 · stopped13 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.