MS HB761

Increases the maximum period for Mississippi Development Authority payments from the Tourism Project Sales Tax Incentive Fund from 10 years to 15 years after a tourism project opens for commercial operation.

Maintains the cap that incentive payments cannot exceed 30 percent of approved project costs, with payments ending when either this cap is reached or 15 years have elapsed, whichever occurs first.

Adds a new category of eligible tourism projects: tourism attractions located within historic districts listed on the National Register of Historic Places that meet specific criteria including public access, minimum 40-person seating capacity, operation at least 5 days per week until midnight, food and beverage service, and live entertainment at least 3 nights per week.

Specifies that incentive payments are made semiannually (January and July) at 80 percent of sales tax revenue collected from the project, and requires the Department of Revenue to be notified when payments cease.

Effective July 1, 2013.