Mississippi Senate Bill 2953 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on March 28 2012 - 100% progression
Action: 2012-03-28 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

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.

Franchise and sales tax exemption; MDA may grant businesses that receive funds from the Industry Incentive Financing Revolving Fund.

Sen. Joey Fillingane [R]

Date	Chamber	Action
2012-03-28		Died In Committee
2012-03-15		Referred To Finance

Type	Source
Summary	https://billstatus.ls.state.ms.us/2012/pdf/history/SB/SB2953.xml
Text	https://billstatus.ls.state.ms.us/documents/2012/html/SB/2900-2999/SB2953IN.htm