House Bill 1

AN ACT TO CREATE THE GIBBS-TURNER ECONOMIC DEVELOPMENT ACT IN HONOR OF REPRESENTATIVE DAVID GIBBS AND SENATOR BENNIE TURNER; TO AMEND SECTION 57-75-5, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "PROJECT" UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT TO INCLUDE CERTAIN AUTOMOTIVE PARTS MANUFACTURING PLANTS AND THEIR AFFILIATES; TO AMEND SECTION 57-75-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CONTRACTS BY THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY OR A PUBLIC AGENCY FOR CERTAIN CONTRACTS RELATED TO SUCH PROJECT SHALL BE EXEMPT FROM THE PROVISIONS OF SECTION 31-7-13 AND THAT SUCH CONTRACTS MAY BE AWARDED ON THE BASIS OF NEGOTIATION UNDER CERTAIN CIRCUMSTANCES; TO AMEND SECTION 57-75-11, MISSISSIPPI CODE OF 1972, TO GRANT THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY CERTAIN ADDITIONAL POWERS AND DUTIES WITH REGARD TO SUCH PROJECTS; TO AMEND SECTION 57-75-15, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR SUCH PROJECTS AND TO SPECIFY THE PURPOSES FOR WHICH THE PROCEEDS OF SUCH BONDS MAY BE UTILIZED; TO AMEND SECTION 57-75-33, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE BOARD OF SUPERVISORS OF A COUNTY OR THE GOVERNING AUTHORITIES OF A MUNICIPALITY MAY EACH ENTER INTO AN AGREEMENT WITH AN ENTERPRISE OPERATING SUCH A PROJECT PROVIDING THAT THE COUNTY OR MUNICIPALITY WILL NOT LEVY ANY TAXES, FEES OR ASSESSMENTS UPON THE ENTERPRISE OTHER THAN TAXES, FEES OR ASSESSMENTS THAT ARE GENERALLY LEVIED UPON ALL TAXPAYERS AND TO AUTHORIZE THE BOARD OF SUPERVISORS OR GOVERNING AUTHORITIES TO ENTER INTO A FEE-IN-LIEU OF AD VALOREM TAXES AGREEMENT WITH THE ENTERPRISE OPERATING SUCH A PROJECT; TO AMEND SECTION 57-75-37, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A COUNTY IN WHICH SUCH A PROJECT IS LOCATED TO ASSIST THE ENTERPRISE ESTABLISHING THE PROJECT AND CERTAIN PUBLIC AGENCIES IN DEFRAYING CERTAIN COSTS; TO AUTHORIZE SUCH A COUNTY TO PROVIDE FUNDS FOR SUCH PURPOSES BY APPROPRIATING MONEY FROM ITS GENERAL FUND OR FROM THE PROCEEDS OF GENERAL OBLIGATION BONDS ISSUED BY THE COUNTY; TO AUTHORIZE CERTAIN TRANSFERS AND CONVEYANCES OF REAL OR PERSONAL PROPERTY WITH OR WITHOUT CONSIDERATION; TO AUTHORIZE CERTAIN PUBLIC AGENCIES TO MAKE GRANTS TO EACH OTHER IN CONNECTION WITH SUCH A PROJECT; TO EXEMPT THE ACQUISITION OF REAL PROPERTY FOR SUCH A PROJECT FROM CERTAIN REQUIREMENTS; TO AMEND SECTION 57-99-1, MISSISSIPPI CODE OF 1972, TO INCLUDE SUCH A PROJECT WITHIN THE DEFINITION OF THE TERM "QUALIFIED BUSINESS OR INDUSTRY" FOR THE PURPOSES OF THE LAW THAT AUTHORIZES INCENTIVE PAYMENTS TO SUCH QUALIFIED BUSINESS THAT ARE FUNDED BY A CERTAIN PORTION OF THE WITHHOLDING TAXES PAID BY THE QUALIFIED BUSINESS; TO AMEND SECTION 27-7-30, MISSISSIPPI CODE OF 1972, TO PROVIDE AN INCOME TAX EXEMPTION FOR INCOME ARISING FROM SUCH A PROJECT; TO PROVIDE THAT THE INCOME TAX EXEMPTION SHALL NOT EXCEED 20 YEARS UNLESS THE QUALIFIED BUSINESS OR INDUSTRY CREATES OR MAINTAINS FOR A PERIOD OF 3 YEARS NOT LESS THAN 1,000 JOBS, IN WHICH CASE THE EXEMPTION PERIOD SHALL BE EXTENDED BY 5 YEARS; TO PROVIDE THAT IN THE EVENT THAT THE ANNUAL AVERAGE OF FULL-TIME JOBS MAINTAINED FALLS BELOW A CERTAIN AMOUNT, THE TAX EXEMPTION SHALL BE SUSPENDED UNTIL THE FIRST TAX YEAR DURING WHICH THE ANNUAL AVERAGE NUMBER OF FULL-TIME JOBS MAINTAINED IS ABOVE THAT AMOUNT; TO AMEND SECTION 27-31-104, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE ANNUAL AMOUNT OF A FEE-IN-LIEU NEGOTIATED FOR CERTAIN PROJECTS THAT IS APPORTIONED TO A COUNTY SHALL NOT BE LESS THAN THE AMOUNT NECESSARY TO PAY THE DEBT SERVICE ON BONDS ISSUED BY THE COUNTY FOR THE PROJECT; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM SALES TAXATION SALES OR LEASES OF COMPONENT MATERIALS, MACHINERY AND EQUIPMENT USED IN THE CONSTRUCTION OF A BUILDING, OR ANY ADDITION OR IMPROVEMENT THEREON TO AN ENTERPRISE OPERATING SUCH A PROJECT; TO EXEMPT FROM SALES TAXATION SALES TO SUCH MANUFACTURERS OF MACHINERY AND EQUIPMENT, AND REPAIR SERVICES FOR SUCH MACHINERY AND EQUIPMENT, FUEL, SUPPLIES, ELECTRICITY, COAL, NITROGEN AND NATURAL GAS USED DIRECTLY IN THE MANUFACTURE OF AUTOMOTIVE PARTS OR USED TO PROVIDE CLIMATE CONTROL FOR MANUFACTURING AREAS; TO AMEND SECTION 31-19-25, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CERTAIN PROVISIONS REGARDING THE ISSUANCE OF BONDS SHALL NOT APPLY TO THE SALE OF BONDS BY A COUNTY IN CONNECTION WITH SUCH A PROJECT; TO AMEND SECTION 43-37-3, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; TO AMEND SECTION 21-1-59, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE GOVERNING AUTHORITIES OF A MUNICIPALITY MAY ENTER INTO AN AGREEMENT WITH AN ENTERPRISE OPERATING SUCH A PROJECT PROVIDING THAT THE MUNICIPALITY WILL NOT CHANGE ITS BOUNDARIES SO AS TO INCLUDE WITHIN THE LIMITS OF SUCH MUNICIPALITY THE PROJECT SITE OF SUCH A PROJECT UNLESS CONSENT THERETO SHALL BE OBTAINED IN WRITING FROM THE ENTERPRISE OPERATING THE PROJECT; TO AMEND SECTION 27-31-1, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IF A MUNICIPALITY CHANGES ITS BOUNDARIES SO AS TO INCLUDE WITHIN THE BOUNDARIES OF SUCH MUNICIPALITY THE PROJECT SITE OF SUCH A PROJECT, ALL REAL AND PERSONAL PROPERTY LOCATED ON THE PROJECT SITE WITHIN THE BOUNDARIES OF SUCH MUNICIPALITY THAT IS OWNED BY A BUSINESS ENTERPRISE OPERATING SUCH PROJECT, SHALL BE EXEMPT FROM AD VALOREM TAXATION FOR A PERIOD OF TIME NOT TO EXCEED 30 YEARS UPON RECEIVING APPROVAL FOR SUCH EXEMPTION BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; AND FOR RELATED PURPOSES.

In the House of Representatives

• Jeffrey C. Smith

  Sponsor

• House of Representatives floor amendmentPending

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

In the House of Representatives Apr 26

1. Apr 26Referred 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 Apr 26

1. Apr 26Released 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
5. Passed the Senate

To the Governor Apr 26 – Apr 28

1. Apr 26Returned to the House for enrolling
2. Enrolled bill signed in the House
3. Enrolled bill signed in the Senate
4. Apr 28Approved by the Governor