MS HB15

Creates the Hotel Renovation Projects Sales Tax Incentive Fund to provide incentive payments to hotel owners who repair and renovate properties with minimum expenditures of $500,000 ($10,000 per guest room).

Authorizes the Mississippi Development Authority to issue certificates to approved participants and make semiannual incentive payments equal to 20% of sales tax revenue collected from guest room rentals and conference rooms.

Limits total incentive payments to 20% of approved project costs, with payments ceasing on the earlier of: (1) when 20% of project costs has been paid, or (2) 10 years after payments begin.

Requires applicants to submit a $1,000 application fee and project plans to the MDA; prohibits new certificates from being issued after July 1, 2018.

Amends Section 27-65-75 to deposit 20% of sales tax revenue from qualifying hotel operations into the incentive fund (after other required diversions), with remaining fund amounts transferred to the General Fund once incentive payments cease; effective July 1, 2015.