Did not become law. It stopped in the Senate's Finance Committee on February 4, 2014. The 2014 session has ended.
2014 Regular Session
Senate Bill 2532
Qualified equity investment credits; increase amount that may be allocated by MDA in a fiscal year increase time period for issuance.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO AMEND SECTION 57-105-1, MISSISSIPPI CODE OF 1972, TO REVISE THE CREDIT ALLOWANCE DATE FOR THE INCOME TAX AND INSURANCE PREMIUM TAX CREDITS FOR TAXPAYERS HOLDING CERTAIN QUALIFIED INVESTMENTS; TO INCLUDE WITHIN THE DEFINITION OF THE TERM "QUALIFIED LOW-INCOME COMMUNITY INVESTMENT" CERTAIN CAPITAL OR EQUITY INVESTMENTS OR LOANS IF THE PROCEEDS OF SUCH INVESTMENT CAN BE DIRECTLY TRACED TO A QUALIFIED ACTIVE LOW-INCOME BUSINESS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO EXCEED THE MAXIMUM AMOUNT OF QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS ISSUED TO A SINGLE QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS IF IT IS DETERMINED THAT THE QUALIFIED ACTIVE LOW-INCOME BUSINESS IS SEPARATE AND DISTINCT; TO INCREASE FROM $15,000,000.00 TO $20,000,000.00 THE MAXIMUM AGGREGATE AMOUNT OF QUALIFIED EQUITY INVESTMENTS THAT MAY BE ALLOCATED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY IN ANY ONE STATE FISCAL YEAR; TO REQUIRE QUALIFIED COMMUNITY DEVELOPMENT ENTITIES TO MAKE CERTAIN ADDITIONAL CERTIFICATIONS TO THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO INCREASE FROM 60 TO 90 DAYS THE PERIOD OF TIME AFTER THE MISSISSIPPI DEVELOPMENT AUTHORITY HAS ALLOCATED SUCH CREDITS TO A QUALIFIED COMMUNITY DEVELOPMENT ENTITY THAT THE CORRESPONDING QUALIFIED LOW-INCOME COMMUNITY INVESTMENT MUST BE ISSUED; TO INCLUDE MUNICIPAL AIRPORT AUTHORITIES WITHIN THE DEFINITION OF THE TERM "PUBLIC ENTITY;" 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
January 20 to February 4, 2014, 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 SenateJan 20 to Feb 4 · stopped15 days
FinanceJan 20 to Feb 4 · stopped15 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.