MS HB1625

Lowers the project investment threshold for fee-in-lieu of ad valorem tax agreements from $100 million to $20 million for new enterprises enumerated in Section 27-31-101.

Extends the maximum duration of fee-in-lieu agreements from 20 years to 30 years from commencement, while maintaining a 10-year cap on any individual parcel of land, real property improvement, or personal property.

Removes the "qualified business" category (as defined in Section 57-117-3) from eligible project types in the version effective July 1, 2022, leaving only projects over $20 million and private companies with $100 million minimum capital investment.

Requires county boards of supervisors and municipal authorities to obtain final approval from the Mississippi Development Authority for all fee-in-lieu agreements.

Minimum fee-in-lieu payment remains at one-third (1/3) of the ad valorem levy, with apportionment between counties/municipalities and school districts as determined by local authorities.