MS SB2507

Expands eligibility for the ACE Fund grants to include businesses located on federal Indian reservations within Mississippi's geographical boundaries, allowing tribal land businesses to receive assistance for new or expanded business ventures

Amends the Mississippi Industry Incentive Financing Revolving Fund to allow approved business enterprises on tribal lands to qualify for grants and loans, including projects creating 250+ jobs with $30 million investment in Tier 1/2 counties, or 150+ jobs with $15 million investment in low-income census tracts

Extends the Mississippi Existing Industry Productivity Loan Program to manufacturing enterprises operating on federal Indian reservations, enabling them to receive loans for technology improvements, equipment purchases, and land/building acquisition

Requires existing industries receiving loans to have operated in the state (including tribal lands) for at least 2 consecutive years and prohibits employment reductions greater than 20% when using loan-funded assets

Takes effect July 1, 2021