MS SB2658

Extends the repeal date for the Mississippi Business Finance Corporation's bond issuance authority from October 1, 2015 to October 1, 2017

Reenacts Sections 57-10-401 through 57-10-445 and Section 27-7-22.3 of the Mississippi Code, which authorize the Corporation to issue revenue bonds for financing economic development projects

Eligible companies include manufacturing, telecommunications, data processing, distribution/warehouse facilities (minimum 50 employees or 20 employees with $5 million capital investment), national/regional headquarters, and research facilities

Approved companies may receive state income tax credits equal to debt service payments made under financing agreements, with credits limited to 80% of taxes due for projects induced after July 1, 1997

Financing agreements may include job development assessment fees of 2-6% of employee wages (based on wage levels) to help retire project bonds, with employees receiving corresponding tax credits