MS SB2686

Mississippi Development Authority must file an annual report by October 1 each year detailing all tax credits, loans, and grants made to nongovernmental clients from economic development negotiations, including total amounts and repayment schedules.

Report must include for each client recipient: name, address, amount received, purpose, agreed-upon and actual number of employees hired/retained/trained, expected and actual financial investment in the state, and any MDA actions to recover funds due to client's failure to meet commitments.

Report must analyze whether each client is meeting program requirements and representations made in agreements with MDA regarding economic development projects.

Department of Revenue is authorized to provide MDA with tax information required for the report; MDA officers executing confidentiality agreements may access tax information at Revenue Department offices.

Amends Mississippi Code sections 27-3-73, 27-7-83, 27-13-57, and 27-65-81 to authorize disclosure of tax information to MDA for administering economic development programs under specified confidentiality restrictions; effective July 1, 2013.