MS HB1690

Authorizes the Mississippi Development Authority (MDA) to designate corporate corridor redevelopment zones in areas with at least 50% commercial zoning, frontage on Interstate or state highways, and urban renewal designation.

Allows the MDA to certify businesses engaged in warehousing, distribution, research, corporate headquarters, data processing, technology, or telecommunications as qualified business enterprises if they create minimum 50 permanent direct jobs with specified wage requirements (65% at 200% of median area income, 10% at 250%, and 5% at 300%).

Requires qualified business enterprises to invest at least $5,000,000 in construction/property improvements with minimum 150 usable square feet per employee.

Provides qualified business enterprises with three tax incentives: accelerated 10-year state income tax depreciation deduction, sales tax exemptions on construction materials and equipment, and fee-in-lieu of ad valorem taxes negotiated by the MDA (minimum one-third of normal ad valorem taxes).

Effective July 1, 2013; includes separate effective dates for amendments to Sections 27-31-104 and 27-65-101 with provisions expiring June 30, 2022, and reverting to modified language thereafter.