MS HB722

Expands the definition of "health care industry facility" to include businesses located within a five-mile radius of universities or colleges accredited by the Southern Association of Colleges and Schools that offer degrees or training in health care or pharmaceutical fields.

Authorizes the Mississippi Development Authority to certify health care industry zones in areas where qualifying health care facilities are located within five miles of eligible universities, colleges, or hospitals with certificates of need.

Requires health care industry facilities seeking certificate of need activities to comply with Section 41-7-191 in order to be certified as qualified businesses under the act.

Qualified businesses in certified health care industry zones receive tax incentives including accelerated state income tax depreciation (10-year period), sales tax exemption, fee-in-lieu of taxes, and ad valorem tax exemption.

Takes effect July 1, 2013.