MS HB1256

Extends the deadline for the Mississippi Development Authority (MDA) to issue certificates designating approved participants in the Tourism Project Sales Tax Incentive Program from July 1, 2014 to July 1, 2017.

Requires applicants to submit a $5,000 application fee along with project plans, financing details, and an independent study projecting out-of-state visitor numbers to participate in the incentive program.

Establishes that approved participants receive incentive payments equal to 80% of sales tax revenue collected from their tourism project, with aggregate payments capped at 30% of approved project costs or ceasing after 15 years of operation, whichever occurs first.

Prohibits the MDA from approving any applications submitted after June 30, 2014 for projects that include resort development.

Creates the Tourism Project Sales Tax Incentive Fund in the State Treasury, administered by the MDA, with unexpended amounts carrying forward each fiscal year and interest earnings available for program administration.