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MS HB1575
Bill
Status
2/27/2019
Primary Sponsor
Jeffrey Smith
Click for details
AI Summary
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Eliminates the $100,000,000 minimum capital investment requirement for qualified businesses (as defined in Section 57-117-3) seeking fee-in-lieu of ad valorem taxes under the Mississippi Health Care Industry Zone Act.
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Changes the eligibility threshold for qualified businesses to meet only the minimum criteria established by the Mississippi Development Authority, effective through June 30, 2022.
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From July 1, 2022 forward, reorganizes subsections to consolidate existing enterprise projects (requiring $60,000,000 investment and 24 months of prior business operation) into a single category.
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Maintains the $100,000,000 investment threshold for private companies in Presidential Disaster Declaration areas, with requirement that majority of capital comes from private sources.
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Takes effect July 1, 2019, with additional changes taking effect July 1, 2022.
Legislative Description
Fee-in-lieu of ad valorem taxes; revise investments required by qualified business under the Mississippi Health Care Zone Act.
Last Action
Died In Committee
2/27/2019