MS HB1132

Expands definition of "base investment" to include payroll and fringes for Mississippi-based production companies operating for more than 5 years with at least 2 prior motion pictures produced in the state.

Lowers minimum expenditure threshold for Mississippi-based motion picture production companies from unspecified amount to $50,000 in base investment, payroll, and/or fringes; maintains $100,000 threshold for other companies.

Increases resident employee payroll rebate from 30% to 35% and caps eligible producers, directors, and cast costs at 45% of base investment.

Allows rebates to be assigned to third-party Mississippi entities and establishes 90-day deadline for Department of Revenue to issue rebates after receiving all required documentation.

Establishes specific timelines for third-party audits (45 business days) and internal Department audits (90 business days initial review, 15 business days for subsequent reviews).