MS HB1567

Creates a special fund in the State Treasury designated the "Jackson State University Stadium Fund" to receive revenue from admissions taxes at the Jackson State Stadium.

Imposes a 7% tax on gross revenue from admissions to amusement business, activities, or events held at the Jackson State Stadium, in lieu of other taxes, with revenue deposited without diversion into the stadium fund.

Authorizes Jackson State University or a qualified nonprofit entity to collect and remit the admissions tax to the Department of Revenue under existing sales tax law procedures.

Allows Jackson State University to use fund monies upon legislative appropriation to establish, operate, maintain, acquire capital assets, make capital improvements, and pay debt service related to the Jackson State Stadium.

Authorizes an 18.5% sales tax diversion on business activities on property owned by the Pearl River Valley Water Supply District located outside municipalities to be allocated to that water supply district, effective August 15, 2014.