MS HB402

Increases authorized general obligation bonds for the Mississippi Industry Incentive Financing Revolving Fund by $115,000,000, raising the total authorization to $260,000,000, with all bonds to be issued by July 1, 2014

Allows county boards of supervisors and municipal governing authorities to enter into agreements with approved businesses receiving loans under the program, prohibiting additional taxes, fees, or assessments beyond those generally levied on all taxpayers

Authorizes counties and municipalities to enter fee-in-lieu agreements with enterprises under Section 27-31-104 for projects with minimum capital investments of at least $100,000,000

Permits tax incentive agreements to extend for periods not to exceed 20 years

Establishes that bond proceeds are general obligations of the State of Mississippi backed by full faith and credit, with bonds exempt from state taxation and income from bonds exempt from state taxation