MS HB1678

Exempts data center business enterprises from state sales and use taxes on component building materials, equipment for facility construction/expansion, and replacement hardware, software, and technology to operate data centers.

Requires data center enterprises to have minimum capital investment of $50 million in Mississippi and create minimum 50 new full-time jobs with average annual salary of at least 150% of state average wage.

Mandates businesses apply to Mississippi Development Authority (MDA) prior to construction with application including project overview, two-year business plan with financial statements, principal expertise documentation, and acknowledgment of annual job requirement reporting.

Establishes that MDA issues certification upon approval and forwards to Department of Revenue; exemptions are nontransferable, require full state and local tax law compliance, and include performance requirements with tax recapture provisions if standards are not met.

Amends Section 27-65-101 of Mississippi Code to add data center tax exemptions to industrial exemption provisions and takes effect July 1, 2010.