Senate Bill 2967

AN ACT TO AMEND SECTION 57-73-23, MISSISSIPPI CODE OF 1972, TO RAISE, FROM 50% TO 75%, THE INCOME TAX CREDIT AUTHORIZED FOR AN EMPLOYER PROVIDING DEPENDENT CARE FOR EMPLOYEES DURING WORK HOURS; TO AMEND SECTION 27-7-22.3, MISSISSIPPI CODE OF 1972, TO CHANGE THE MAXIMUM AMOUNT OF THE ECONOMIC DEVELOPMENT INCOME TAX CREDIT TO THE AMOUNT OF INTEREST EXPENSE PAID UNDER A FINANCING AGREEMENT, NOT TO EXCEED 80% OF THE AMOUNT OF TAXES DUE BEFORE THE APPLICATION OF THE CREDIT; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO REMOVE THE SALES TAX EXEMPTIONS FOR SALES OF COMPONENT BUILDING MATERIALS AND EQUIPMENT FOR INITIAL CONSTRUCTION OR EXPANSION OF CERTAIN FACILITIES, FOR SALES AND LEASES OF MACHINERY AND EQUIPMENT ACQUIRED IN THE INITIAL CONSTRUCTION TO ESTABLISH CERTAIN FACILITIES, AND FOR SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A BUILDING, OR ANY ADDITION OR IMPROVEMENT THEREON, AND SALES OR LEASES OF MACHINERY AND EQUIPMENT NOT LATER THAN THREE MONTHS AFTER THE COMPLETION OF THE CONSTRUCTION OF THE FACILITY, TO BE USED IN THE FACILITY, TO CERTAIN PERMANENT BUSINESS ENTERPRISES OPERATING A FACILITY PRODUCING RENEWABLE CRUDE OIL FROM BIOMASS HARVESTED OR PRODUCED, IN WHOLE OR IN PART, IN MISSISSIPPI; TO AMEND SECTION 57-10-439, MISSISSIPPI CODE OF 1972, TO EXCLUDE SALES TAX AND USE TAX FROM THE TAX EXEMPTIONS AUTHORIZED FOR BOND FINANCING OF CERTAIN BUSINESS AND ECONOMIC DEVELOPMENT PROJECTS; TO AMEND SECTION 57-73-21, MISSISSIPPI CODE OF 1972, TO REPEAL THE SUBSECTIONS AUTHORIZING TAX CREDITS FOR PERMANENT BUSINESS ENTERPRISES IN COUNTIES DESIGNATED BY THE DEPARTMENT OF REVENUE AS TIER ONE, TIER TWO AND TIER THREE AREAS, FOR NEW FULL-TIME EMPLOYEES IN JOBS REQUIRING RESEARCH AND DEVELOPMENT SKILLS, AND FOR COMPANIES RELOCATING THEIR NATIONAL OR REGIONAL HEADQUARTERS TO MISSISSIPPI; TO PROVIDE THAT ANY TAXPAYER WHO IS ELIGIBLE, BEFORE JULY 1, 2021, FOR THE CREDIT AUTHORIZED IN A REPEALED SUBSECTION SHALL REMAIN ELIGIBLE AND SHALL BE ALLOWED TO CARRY FORWARD THE CREDIT AFTER JULY 1, 2021, NOTWITHSTANDING THE REPEAL OF THE SUBSECTION; TO REPEAL SECTIONS 57-113-1, 57-113-3, 57-113-5 AND 57-113-7, MISSISSIPPI CODE OF 1972, WHICH CONSTITUTE THE ARTICLE AUTHORIZING TAX EXEMPTIONS FOR CLEAN ENERGY GENERATION AND AEROSPACE INDUSTRY ENTERPRISES; TO AMEND SECTIONS 27-3-4, 27-7-21, 27-7-22.28, 27-7-312, 27-13-5, 27-13-7 AND 57-99-3, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE ABOVE; TO BRING FORWARD SECTIONS 27-7-22.7, 27-7-22.23, 27-7-22.25, 27-7-22.35, 27-65-75, 57-1-451, 57-10-409, 57-28-1, 57-28-3 AND 57-28-5, MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES.

In the Senate

• David Parker

  Sponsor

• Senate floor amendmentAdopted

  Adopted Feb 18

• House of Representatives committee amendmentPending

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

In the Senate Feb 16 – Feb 18

1. Feb 16Referred 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 18Amended in the Senate
5. Passed the Senate as amended

In the House of Representatives Feb 23 – Mar 16

1. Feb 23Sent 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 16Amendment tabled in the House
6. Recommitted to committee in the House
7. Died in committee in the House