MS HB1445

Authorizes the City of Hattiesburg and Forrest County to acquire land, buildings, and facilities for industrial purposes within Forrest County and to issue up to $15,000,000 in bonds outstanding at any one time to fund these acquisitions and improvements.

Establishes a 10-member Forrest County Industrial Park Commission (5 members appointed by county board of supervisors, 5 by city mayor and council) to hold title to and manage industrial park property and operations.

Grants the Industrial Park Commission authority to utilize funds for project support of new or expanding industrial enterprises, including infrastructure improvements, workforce training, and reduction of occupancy costs for facilities owned by the commission or others.

Allows participating subdivisions to levy special taxes and appropriate up to 50% of fee-in-lieu revenue from industrial enterprises for project support purposes, considering job creation and economic impact.

Exempts property acquired and held by the commission for industrial purposes from ad valorem taxation until sold to a nongovernmental entity, and exempts bonds issued under this act from taxation.