MS SB2621

Adds a new category (vi) to the definition of "tourism project" to include theme parks, water parks, or live entertainment venues and hotels constructed contiguous to each other with a minimum private investment of $10,000,000.

Clarifies that "approved project costs" for tourism projects described in paragraph (d)(iv) include only costs incurred after January 1, 2011, relating to the hotel portion consisting of lodging facilities and common areas.

Maintains existing eligibility requirements for other tourism projects including hotels ($40,000,000 minimum), golf courses ($10,000,000 minimum), full-service hotels ($15,000,000 minimum), and entertainment district attractions.

Reaffirms that gaming establishments are excluded from the definition of "tourism project," but allows gaming entities to participate if their project exceeds gaming commission development requirements and is not a licensed gaming establishment.

Takes effect July 1, 2012.