MS SB2672

Creates the Mississippi Development Authority Job Training Grant Fund to provide training grants to business enterprises eligible for the jobs tax credit under Section 57-73-21.

Grants capped at $2,000 per job in Tier One counties, $3,000 per job in Tier Two counties, and $4,000 per job in Tier Three counties, paid over a five-year period upon job creation.

Requires business enterprises receiving training grants to maintain a minimum number of jobs through binding commitments, with grant repayment obligations if minimum employment levels are not sustained.

Eliminates eligibility for the jobs tax credit for businesses that elect to receive job training grants instead, with the election required before job creation.

Redirects $150,000 monthly in sales tax revenue from the MMEIA Tax Incentive Fund to the new Job Training Grant Fund beginning July 15, 2012, and repeals the MMEIA Tax Incentive Fund.