MS HB346

Extends the repeal date for Sections 57-10-401 through 57-10-445 and 27-7-22.3 from October 1, 2011 to October 1, 2014, continuing the Mississippi Business Finance Corporation's authority to issue bonds for economic development projects

Authorizes the Mississippi Business Finance Corporation to issue revenue bonds to finance manufacturing, telecommunications, data processing, distribution, and warehouse facilities to induce business location or expansion in the state

Provides state income tax credits to approved companies for debt service payments made under financing agreements, with credits not exceeding 80% of taxes due for projects induced after July 1, 1997

Allows approved companies to impose job development assessment fees of 2-6% on employee wages (for those earning $5+/hour) to help retire project bonds, with employees receiving corresponding state income tax credits

Eligible companies include manufacturers, distribution/warehouse facilities employing at least 50 people (or 20 with $5 million investment), telecommunications businesses, national/regional headquarters, and research and development facilities