Senate Bill 2822

AN ACT TO CREATE THE "MISSISSIPPI FLEXIBLE TAX INCENTIVE ACT"; TO DEFINE TERMS; TO ESTABLISH REQUIREMENTS AND STANDARDS FOR APPLICATION TO THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR CERTIFICATION AND AWARD OF THE MISSISSIPPI FLEXIBLE TAX INCENTIVE; TO ESTABLISH REQUIREMENTS AND STANDARDS FOR THE CERTIFICATION AND AWARD OF THE MISSISSIPPI FLEXIBLE TAX INCENTIVE BY THE MISSISSIPPI DEVELOPMENT AUTHORITY TO A QUALIFIED BUSINESS OR INDUSTRY FOR A QUALIFIED ECONOMIC DEVELOPMENT PROJECT; TO PRESCRIBE THE MEANS OF CALCULATING AND APPLYING SUCH INCENTIVE; TO PROHIBIT UTILIZATION OF CERTAIN OTHER INCENTIVES IN COMBINATION WITH THE MISSISSIPPI FLEXIBLE TAX INCENTIVE; TO ESTABLISH REQUIREMENTS AND STANDARDS FOR ANNUAL REPORTING BY A QUALIFIED BUSINESS OR INDUSTRY, MODIFICATIONS TO PRIOR INCENTIVE AWARDS BY THE MISSISSIPPI DEVELOPMENT AUTHORITY AND DEADLINES FOR THE UTILIZATION OF SUCH INCENTIVE; TO AUTHORIZE AUDITS BY THE MISSISSIPPI DEPARTMENT OF REVENUE AND SHARING OF CERTAIN INFORMATION ABOUT CERTAIN INCENTIVE AWARDEES BETWEEN STATE AGENCIES; TO CLARIFY THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY IS GRANTED EXCLUSIVE JURISDICTION TO CERTIFY, AWARD AND MAKE ANY ADJUSTMENTS TO A MISSISSIPPI FLEXIBLE TAX INCENTIVE FOR A QUALIFIED BUSINESS OR INDUSTRY; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY AND THE MISSISSIPPI DEPARTMENT OF REVENUE TO PROMULGATE RULES AND REGULATIONS NECESSARY TO IMPLEMENT THIS ACT; TO AMEND SECTION 27-7-22, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE APPLICATION OF A MISSISSIPPI FLEXIBLE TAX INCENTIVE AS A CREDIT TO OFFSET STATE INCOME TAX LIABILITY; TO AMEND SECTION 27-7-309, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE APPLICATION OF A MISSISSIPPI FLEXIBLE TAX INCENTIVE AS A CREDIT TO OFFSET WITHHOLDING TAX LIABILITY; TO AMEND SECTION 27-7-311, MISSISSIPPI CODE OF 1972, TO EXCLUDE ANY MISSISSIPPI FLEXIBLE TAX INCENTIVE APPLIED AS A CREDIT TO OFFSET STATE INCOME TAX LIABILITY FROM THE ANNUAL STATEMENT REQUIRED TO BE FILED WITH THE COMMISSIONER OF REVENUE FOR AN EMPLOYEE; TO AMEND SECTION 27-13-5, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE APPLICATION OF A MISSISSIPPI FLEXIBLE TAX INCENTIVE AS A CREDIT TO OFFSET FRANCHISE TAX LIABILITY OF MISSISSIPPI CORPORATIONS; TO AMEND SECTION 27-13-7, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE APPLICATION OF A MISSISSIPPI FLEXIBLE TAX INCENTIVE AS A CREDIT TO OFFSET FRANCHISE TAX LIABILITY OF FOREIGN CORPORATIONS; TO AMEND SECTION 27-65-93, MISSISSIPPI CODE OF 1972, TO REQUIRE THE DEPARTMENT OF REVENUE TO ISSUE A DIRECT PAY PERMIT TO A QUALIFIED BUSINESS OR INDUSTRY THAT IS AWARDED A MISSISSIPPI FLEXIBLE TAX INCENTIVE BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO AMEND SECTION 27-67-17, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE APPLICATION OF A MISSISSIPPI FLEXIBLE TAX INCENTIVE AS A CREDIT TO OFFSET STATE USE TAX LIABILITY; TO AMEND SECTION 57-1-14, MISSISSIPPI CODE OF 1972, TO DELAY OR PRECLUDE CERTAIN INFORMATION PROVIDED IN APPLICATIONS AND ANNUAL REPORTS FOR THE MISSISSIPPI FLEXIBLE TAX INCENTIVE FROM DISCLOSURE PURSUANT TO THE MISSISSIPPI PUBLIC RECORDS ACT OF 1983; AND FOR RELATED PURPOSES.

In the Senate

• David Parker

  Sponsor

• House of Representatives committee amendmentAdopted

  Adopted Mar 16

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

In the Senate Jan 18 – Feb 18

1. Jan 18Referred to the Senate committees on Finance and on Economic and Workforce Development
2. Feb 17Reported from FI to EC in the Senate: title sufficient, do pass
3. Reported from committee in the Senate: title sufficient, do pass
4. Feb 18Passed the Senate

In the House of Representatives Feb 22 – Mar 16

1. Feb 22Sent to the House
2. Feb 24Referred to the House committee on Ways and Means
3. Mar 11Reported from committee in the House: title sufficient, do pass as amended
4. Mar 15Read the third time in the House
5. Mar 16Amended in the House
6. Passed the House as amended

Back in the Senate Mar 17 – Mar 27

1. Mar 17Returned to the Senate to concur in the House's amendments
2. Mar 18Declined in the Senate to concur, and invited a conference
3. Mar 22Conferees named in the Senate: Harkins, Parker and Fillingane
4. Mar 23Conferees named in the House: Lamar, Steverson and Massengill
5. Mar 27Died in conference in the Senate