MS SB3123

Amends Chapter 855 of Local and Private Laws to grant the City of Hattiesburg and Forrest County additional powers to acquire, develop, and finance industrial park projects within the county.

Authorizes the subdivisions to issue up to $15,000,000 in aggregate bonds outstanding at any time, with bond maturity not exceeding 25 years and requiring special tax levies for repayment.

Establishes a 10-member Forrest County Industrial Park Commission (5 members appointed by each subdivision) to hold title to industrial park property and manage development, with merger of any existing city industrial park commission.

Expands the commission's authority to provide project support for new and expanding industries, including infrastructure improvements, facility improvements, occupancy cost reductions, and workforce training funded from subdivision appropriations and fee-in-lieu revenues.

Authorizes participating subdivisions to grant fee-in-lieu of tax agreements on qualified industrial property and dedicate up to 50% of their share of fee-in-lieu revenue for project support purposes to industrial enterprises in the parks.