HB 1701 Summary

• Authorizes $215.625 million in state general obligation bonds for capital improvements at higher education institutions, state agencies, and community colleges, with specific allocations listed for each entity.

• Establishes statewide tourism funds totaling $7.325 million in bonds to support heritage, history, and culture projects including the Elvis Presley Birthplace, civil rights historical sites, and cultural tourism initiatives.

• Creates a $30 million participating loan program for small businesses and forestry enterprises, and a $100 million industry incentive financing fund for local governments and approved business projects.

• Authorizes tax exemptions for 10 years for clean energy manufacturers, aerospace companies, and data centers that meet minimum capital investment and job creation requirements.

• Revises the Mississippi Advantage Jobs Act to provide incentive payments equal to 90% of actual income tax withheld (not exceeding 4% of payroll) for qualified businesses creating new jobs, and increases Mississippi Business Investment Act bond authority from $316 million to $323 million.