MS SB2703

Adds "historical resort development" as a new category of tourism project eligible for the sales tax incentive program under Section 57-26-1.

Defines "historical resort development" as the reestablishment of a former town that lost its municipal charter before 1945, redeveloped as a travel destination with a minimum private investment of $50,000,000.

Historical resort development may include a chapel, historical museum, boutique hotel with at least 75 rooms at $150,000 per room minimum, 25 guest cottages, restaurants, specialty retail, and entertainment amenities.

Defines "retail activity" as businesses with inventory consisting primarily of upscale name brands or equivalent, as determined by the Mississippi Development Authority.

Effective date is July 1, 2010.