MS HB1499

Lowers the minimum project investment threshold for fee-in-lieu of ad valorem taxes agreements from $100,000,000 to $20,000,000 for new enterprises

Extends the maximum duration of fee-in-lieu agreements from 20 years to 30 years, while maintaining the 10-year limit for any individual parcel of land, property improvement, or personal property item

Creates a new category allowing fee-in-lieu agreements for private companies with $100,000,000+ capital investment (majority from private sources) located in areas with Presidential Disaster Declarations issued on or after January 1, 2014

Maintains the minimum fee-in-lieu payment at one-third (1/3) of the ad valorem taxes that would otherwise be owed, including school taxes

Requires final approval from the Mississippi Development Authority for all fee-in-lieu agreements