MS HB143

Creates the Hotel Renovation Projects Sales Tax Incentive Fund to provide incentive payments to persons, corporations, or entities that repair and renovate hotels in Mississippi with minimum expenditures of $500,000 and at least $10,000 per guest room.

Authorizes the Mississippi Development Authority (MDA) to issue certificates to approved participants and make semiannual incentive payments equal to 20% of sales tax revenue collected from guest room rentals and conference rooms, capped at 20% of approved project costs.

Incentive payments cease upon the earlier of: reaching 20% of approved project costs or 10 years after payments begin; no new certificates may be issued after July 1, 2022.

Requires applicants to submit a $1,000 application fee and provide project plans for MDA review; all project costs must be verified by an independent third party at the applicant's expense.

Directs 20% of sales tax revenue from hotel projects (after certain diversions) into the incentive fund beginning August 15, 2019; unexpended fund balances do not lapse and the MDA may use up to 1% of interest earnings for program administration.