Loading chat...
MS SB2920
Bill
AI Summary
-
Creates the "Jackson State University Stadium Fund" in the State Treasury to receive tax revenue and other designated funds, with unexpended amounts and interest remaining in the fund rather than lapsing to the General Fund
-
Imposes a 7% tax on gross revenue from admissions to amusement activities and events held at Jackson State Stadium, located on or near the main campus in Jackson, Hinds County, in lieu of any other taxes
-
Allows Jackson State University, upon legislative appropriation, to use fund money for establishing, operating, and maintaining the stadium, including capital assets, improvements, and debt service
-
Permits transfer of funds to a qualified nonprofit entity organized solely to support Jackson State University for stadium-related purposes
-
Revenue from the 7% stadium admissions tax is deposited directly into the Jackson State University Stadium Fund without diversion, effective July 1, 2014
Legislative Description
Jackson State University Stadium Fund; create and impose a tax on activities and events held at the stadium to fund it.
Last Action
Died In Committee
2/26/2014