MS HB1125

Establishes the Mississippi Arts and Entertainment Center in Meridian as a state-owned facility to celebrate Mississippi's arts and entertainment heritage through exhibits, Hall of Fame, performances, and educational programs.

Authorizes the Department of Finance and Administration to lease or contract with a nonprofit corporation for up to 50 years to support, improve, administer and operate the Center, with the nonprofit corporation holding necessary operational powers.

Requires any real property purchased or donated for the Center to be titled to the State of Mississippi for the benefit of the Department of Finance and Administration.

Exempts the nonprofit corporation and its possessory, leasehold, real and personal property from all ad valorem taxation (school, city, and county taxes) for the term of the lease or contractual arrangement.

Exempts the Center's construction from energy performance requirements under Section 31-11-35, with the nonprofit corporation required to pay all utility costs instead.