MS SB3053

Extends the Department of Finance and Administration's authority to receive and budget federal CARES Act funds through fiscal year 2021 (in addition to 2020) for state agency expenses, up to $50,000,000.

Establishes that the $2,000 direct payment to businesses is specifically compensation for initial compliance with the Governor's COVID-19 emergency proclamation issued March 14, 2020, and is separate from Back to Business Program reimbursements.

Adds North American Industry Classification System codes 311811, 487210, 7113, 7223, and 7224 to eligible taxpayers for the $2,000 direct payment program.

Increases the base payment under the Back to Business Mississippi Grant Program from $1,500 to $3,500 per eligible business and removes the requirement to reduce payments for Paycheck Protection Program funds, Economic Injury Disaster Loan advances, and business interruption insurance proceeds.

Establishes a September 15, 2020 deadline for the Mississippi Development Authority to accept applications for the Back to Business Grant Program and clarifies that the $2,000 direct payment does not reduce Back to Business grant amounts.