MS HB1431

Reduces minimum capital investment requirement for aerospace industry businesses from $30 million to $25 million (in land, building and equipment).

Reduces minimum number of new full-time jobs required from 100 to 25 for aerospace industry enterprises to qualify for tax exemptions.

Requires new jobs created by aerospace enterprises to provide an average annual salary of at least 110% of the state average annual wage or county average annual wage (whichever is less), excluding non-taxable benefits.

Expands the definition of "aerospace industry" operations to include products, components, and systems that enable vehicles to move through air and space, and adds processing and research/development and training services as qualifying activities.

Effective July 1, 2019.