MS HB907

Creates the Mississippi Entertainment Industry Investment Act establishing two separate rebate programs for sound recording and musical/theatrical productions in Mississippi.

Sound recording production companies with at least $15,000 ($5,000 for resident companies) in qualifying in-state expenses are eligible for a 25% rebate, capped at $1,000,000 per fiscal year.

Companies producing musical or theatrical performances with at least $100,000 in qualifying in-state expenses are eligible for a 25% rebate, capped at $500,000 per fiscal year.

Mississippi Development Authority administers both programs, approves projects before production begins, and certifies rebate amounts to the Department of Revenue for payment from current tax collections.

Rebate applications must be approved by July 1, 2019, and the act takes effect July 1, 2016.