Bill Text: MS HB1074 | 2016 | Regular Session | Introduced

Mississippi House Bill 1074 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Economic Development and Infrastructure Fund; create and deposit certain funds into.

Spectrum: Bipartisan Bill

Status: (Passed) 2016-05-13 - Approved by Governor [HB1074 Detail]

Download: Mississippi-2016-HB1074-Introduced.html

MISSISSIPPI LEGISLATURE

2016 Regular Session

To: Gaming; Revenue and Expenditure General Bills

By: Representative Bennett

House Bill 1074

AN ACT TO CREATE THE "GAMING ECONOMIC DEVELOPMENT AND INFRASTRUCTURE FUND" AS A SPECIAL FUND IN THE STATE TREASURY; TO PROVIDE THAT MONIES IN THE FUND WILL BE USED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY TO PROVIDE GRANTS TO ASSIST WITH CONSTRUCTION AND REPAIR OF INFRASTRUCTURE IN COUNTIES WHERE LEGAL GAMING IS BEING CONDUCTED OR IS AUTHORIZED AND FOR STRUCTURES DESIGNED TO PROMOTE THE GAMING AND ENTERTAINMENT INDUSTRY IN SUCH COUNTIES, AND TO ASSIST COMMERCIAL SERVICE AIRPORTS WITH AIR SERVICE DEVELOPMENT GOALS UNDER THE MISSISSIPPI AIR SERVICE DEVELOPMENT PROGRAM ACT; TO AMEND SECTION 75-76-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A PORTION OF THE STATE GAMING REVENUE SHALL BE DEPOSITED INTO THE "GAMING ECONOMIC DEVELOPMENT AND INFRASTRUCTURE FUND" CREATED IN THIS ACT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) There is created in the State Treasury a special fund to be designated as the "Gaming Economic Development and Infrastructure Fund." The special fund shall consist of monies deposited into the fund under Section 75-76-129 and monies from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the Mississippi Development Authority for the purposes authorized in subsection (2) of this section.

(2) (a) The Mississippi Development Authority shall establish a program to provide grants (i) to assist with construction and repair of infrastructure in counties in this state where legal gaming is being conducted or is authorized and for structures designed to promote the gaming and entertainment industry in such counties and (ii) to commercial service airports to assist with the air service development goals provided in Section 57-1-471.

(b) The Mississippi Development Authority shall establish a procedure for accepting and reviewing applications for grants under this section.

(3) The Mississippi Development Authority shall have all powers necessary to implement and administer the program established under this section, and the Mississippi Development Authority shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.

SECTION 2. Section 75-76-129, Mississippi Code of 1972, is amended as follows:

[From and after January 1, 2016, through * * * ~~December 31~~ June 30, 2016, this section shall read as follows:]

75-76-129. On or before the last day of each month, all taxes, fees, interest, penalties, damages, fines or other monies collected by the Department of Revenue during that month under the provisions of this chapter, with the exception of (a) the local government fees imposed under Section 75-76-195, (b) an amount equal to Three Million Dollars ($3,000,000.00) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), and (c) an amount equal to Five Hundred Eighty-three Thousand Three Hundred Thirty-three Dollars and Thirty-three Cents ($583,333.33) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), shall be paid by the Department of Revenue to the State Treasurer to be deposited in the State General Fund. The local government fees shall be distributed by the Department of Revenue pursuant to Section 75-76-197. An amount equal to Two Million Three Hundred Seventy-five Thousand Dollars ($2,375,000.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the bond sinking fund created in Section 1(3) of Chapter 479, Laws of 2015. An amount equal to Five Hundred Thousand Dollars ($500,000.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the 2015-2016 City of Gulfport Aquarium Construction Fund created in Section 2 of Chapter 479, Laws of 2015. An amount equal to Forty-one Thousand Six Hundred Sixty-three Dollars ($41,663.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the 2015 Vicksburg Interpretive Center, Catfish Row Museum Construction Fund created in Section 3 of Chapter 479, Laws of 2015. An amount equal to Eighty-three Thousand Three Hundred Thirty-four Dollars ($83,334.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the 2015 E.E. Bass Cultural Arts Center Fund created in Section 4 of Chapter 479, Laws of 2015. An amount equal to Five Hundred Eighty-three Thousand Three Hundred Thirty-three Dollars and Thirty-three Cents ($583,333.33) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the Gaming Economic Development and Infrastructure Fund created in Section 1 of this act.

[From and after July 1, 2016, through December 31, 2016, this section shall read as follows:]

[From and after January 1, 2017, through December 31, 2017, this section shall read as follows:]

75-76-129. On or before the last day of each month all taxes, fees, interest, penalties, damages, fines or other monies collected by the Department of Revenue during that month under the provisions of this chapter, with the exception of (a) the local government fees imposed under Section 75-76-195, and (b) an amount equal to Three Million Dollars ($3,000,000.00) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), and (c) an amount equal to Five Hundred Eighty-three Thousand Three Hundred Thirty-three Dollars and Thirty-three Cents ($583,333.33) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), shall be paid by the Department of Revenue to the State Treasurer to be deposited in the State General Fund. The local government fees shall be distributed by the Department of Revenue pursuant to Section 75-76-197. An amount equal to Two Million Five Hundred Thousand Dollars ($2,500,000.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the bond sinking fund created in Section 1(3) of Chapter 479, Laws of 2015. An amount equal to Five Hundred Thousand Dollars ($500,000.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the 2015-2016 City of Gulfport Aquarium Construction Fund created in Section 2 of Chapter 479, Laws of 2015 shall be distributed by the Department of Revenue pursuant to Section 75-76-197. An amount equal to Five Hundred Eighty-three Thousand Three Hundred Thirty-three Dollars and Thirty-three Cents ($583,333.33) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the Gaming Economic Development and Infrastructure Fund created in Section 1 of this act.

[From and after January 1, 2018, this section shall read as follows:]

75-76-129. On or before the last day of each month all taxes, fees, interest, penalties, damages, fines or other monies collected by the Department of Revenue during that month under the provisions of this chapter, with the exception of (a) the local government fees imposed under Section 75-76-195, * * *~~and~~ (b) an amount equal to Three Million Dollars ($3,000,000.00) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), and (c) an amount equal to Five Hundred Eighty-three Thousand Three Hundred Thirty-three Dollars and Thirty-three Cents ($583,333.33) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c), shall be paid by the Department of Revenue to the State Treasurer to be deposited in the State General Fund. The local government fees shall be distributed by the Department of Revenue pursuant to Section 75-76-197. An amount equal to Three Million Dollars ($3,000,000.00) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the bond sinking fund created in Section 1(3) of Chapter 479, Laws of 2015. An amount equal to Five Hundred Eighty-three Thousand Three Hundred Thirty-three Dollars and Thirty-three Cents ($583,333.33) of the revenue collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into the Gaming Economic Development and Infrastructure Fund created in Section 1 of this act.

SECTION 3. This act shall take effect and be in force from and after July 1, 2016.