HB 1549 Summary

• Establishes the Mississippi Health Care Industry Zone Act, authorizing the Mississippi Development Authority (MDA) to certify health care industry zones in counties with more than 375 acute care hospital beds and within 5 miles of a hospital facility.

• Defines "health care industry facility" as businesses engaged in pharmaceutical research, biotechnology, medical supplies, medical equipment manufacturing, diagnostic imaging, or laboratory testing that create a minimum of 25 new full-time jobs.

• Grants qualified businesses in certified zones eligibility for accelerated 10-year state income tax depreciation, sales tax exemptions on construction materials and equipment, ad valorem tax exemptions, and fee-in-lieu of ad valorem taxes arrangements.

• Allows the MDA to revoke zone certification after 5 years if qualified businesses fail to create the required number of jobs, though previously granted incentives remain in effect.

• Amends existing tax code sections (27-31-101, 27-31-104, 27-65-101) to add health care industry facilities to eligible business categories and provide corresponding tax benefits through June 30, 2022, after which these provisions expire.