Senate Bill 2271 Summary

• Reduces minimum capital investment requirement for data centers from $50 million to $20 million to qualify as a "business enterprise" eligible for tax exemptions.

• Lowers minimum job creation requirement from 50 to 20 new full-time jobs and reduces minimum average annual salary requirement from 150% to 125% of state average wage.

• Extends tax exemption period to 10 years after Mississippi Development Authority certification, covering income taxes and franchise taxes in addition to existing sales and use tax exemptions.

• Exempts utilities sold to qualifying data centers from sales taxation under Section 27-65-107.

• Takes effect July 1, 2019.