MS SB2439

Creates the Mississippi Development Authority Job Training Grant Fund to provide job training grants to businesses eligible for the jobs tax credit, reimbursing them for 75% of employee training or retraining costs.

Grants are available for five years (years 2-6 after job creation) with maximum amounts of $1,000 per job in Tier One counties, $1,500 in Tier Two counties, and $2,000 in Tier Three counties.

Businesses receiving job training grants are ineligible for the jobs tax credit; businesses must elect the grant option before creating any jobs and maintain minimum job requirements or repay all or part of grant funds.

Transfers $2,000,000 from the MMEIA Tax Incentive Fund to the new job training grant fund and redirects $150,000 monthly in sales tax revenue from the MMEIA fund to the job training fund effective July 15, 2013.

Repeals Sections 57-101-1, 57-101-3, and 57-101-5 creating the MMEIA Tax Incentive Fund and amends the Department of Revenue's authority to administer related job tax credits.