Mississippi Senate Bill 3016 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on February 21 2018 - 100% progression
Action: 2018-02-21 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Authorize The Issuance Of General Obligation Bonds To Provide Funds For The Mississippi Development Authority To Provide Loans To An Enterprise Operating A Major Theme Park That Will Include Certain Amenities With An Initial Capital Investment In Land, Buildings And Equipment Of Not Less Than $31,000,000.00 And Which Will Create Not Less Than 700 New Full-time Jobs; To Authorize A Job Tax Credit For Income Taxes For The Enterprise Operating Such A Theme Park For Each Net New Full-time Employee Job For A Period Of Ten Years Provided At Least 700 Net New Full-time Jobs Are Created; To Authorize County Boards Of Supervisors And Municipal Authorities To Grant Exemptions From Ad Valorem Taxation On Tangible Property Used In, Or Necessary To, The Operation Of Such A Major Theme Park; To Provide That The Time Of Such Exemption Shall Be For A Period Not To Exceed A Total Of Five Years; To Amend Sections 57-75-5; 57-75-11 And 57-75-15, Mississippi Code Of 1972, To Revise The Definition Of The Term "project" Under The Mississippi Major Economic Impact Act To Include Such A Major Theme Park; To Authorize The Mississippi Major Economic Impact Authority To Make Grants For Certain Purposes To An Enterprise Operating Such A Theme Park; To Authorize The Issuance Of General Obligation Bonds To Provide Funds For Such Grants; To Amend Sections 57-28-1, 57-28-3 And 57-28-5, Mississippi Code Of 1972, To Make Such Theme Parks Eligible For A Sales Tax Rebate Of A Certain Amount For Approved Project Costs Incurred By The Enterprise Operating Such A Theme Park And To Increase To 50% The Amount Of Approved Project Costs That May Be Recovered; And For Related Purposes.

Economic Development; provide state assistance and tax incentives for construction of a major theme park.

Sen. Thomas Gollott [R]

Sen. Lydia Chassaniol [R]

Sen. Joel Carter [R]

Date	Chamber	Action
2018-02-21	Senate	Died In Committee
2018-02-09	Senate	Referred To Finance

Type	Source
Summary	https://billstatus.ls.state.ms.us/2018/pdf/history/SB/SB3016.xml
Text	https://billstatus.ls.state.ms.us/documents/2018/html/SB/3000-3099/SB3016IN.htm