MS SB2147

Revises the definition of "contaminated site" to include Brownfield property subject to a Brownfield agreement under Section 49-35-11, in addition to property abandoned from bankruptcy estates.

Removes the December 31, 2009 deadline, allowing counties and municipalities to apply to the Mississippi Development Authority for redevelopment designation on an ongoing basis rather than within a limited timeframe.

Extends the period for incentive payments from the Redevelopment Project Incentive Fund from 10 years to 15 years after project approval by the MDA.

Modifies the payment percentage structure for years 10 and beyond to maintain 50% of deposited funds going to developers in all subsequent years after year 9.

Changes the oversight agency responsible for notification when payments end from the State Tax Commission to the Department of Revenue, effective July 1, 2013.