MS SB2921

Reenacts Sections 57-10-401 through 57-10-445 of Mississippi Code governing Mississippi Business Finance Corporation's authority to issue bonds for economic development projects including manufacturing, telecommunications, data processing, distribution, and warehouse facilities.

Extends the repeal date of these bond issuance provisions from October 1, 2011 to October 1, 2015, allowing the corporation to continue financing approved economic development projects.

Provides tax credits for approved companies up to 25 years, allowing credits against state income taxes for debt service paid under financing agreements, with specific variations based on when bonds were issued (prior to July 1, 1994; between July 1, 1994-1997; or after July 1, 1997).

Authorizes approved companies to require employees to pay job development assessment fees (2-6% of gross wages depending on wage level) with employees receiving income tax credits equal to amounts assessed.

Limits financing agreements to approved entities including manufacturers, small enterprises, distribution/warehouse facilities with 50+ employees or $5 million capital investment, telecommunications, data processing businesses, and research and development facilities.