MS SB2617

Extends the time for qualified community development entities to issue qualified equity investments from unspecified period to 60 days after allocation by the Mississippi Development Authority, with cancellation of allocation if deadline is missed.

Defines new terms including "New Markets Tax Credit transaction," "public benefit corporation," "public entity," and "public property or facilities" to facilitate financing arrangements using tax credits.

Authorizes public entities to create public benefit corporations and enter into financing arrangements to transfer public property or facilities related to New Markets Tax Credit transactions, with terms up to 50 years.

Allows public entities and public benefit corporations to leverage funds from governmental, nonprofit, or for-profit entities for acquisition, construction, or renovation of properties transferred to public benefit corporations in New Markets Tax Credit transactions.

Exempts transfers of public property or facilities under these New Markets Tax Credit provisions from bidding requirements and limitations on public property leasing, acquiring, and construction under Section 31-7-13.