Senate Bill 2831 Summary

• Creates the Mississippi Entertainment Industry Investment Act to provide rebates for sound recording production companies and musical/theatrical production companies that produce projects in Mississippi

• Sound recording production companies with at least $15,000 in base investment ($5,000 for resident companies) are eligible for a 25% rebate on qualifying expenditures, capped at $1,000,000 per fiscal year

• Musical and theatrical production companies with at least $100,000 in base investment are eligible for a 25% rebate on qualifying expenditures, capped at $500,000 per fiscal year

• Mississippi Development Authority administers both rebate programs and must approve applications before production begins; all rebates expire July 1, 2022

• Amends existing motion picture incentive law to change Department of Revenue application deadline from July 1, 2017 to July 1, 2022