MS SB2839

Establishes the SMART Business Accelerate Initiative to fund research validation of state-owned intellectual property, providing disbursements of up to $150,000 per applicant with a maximum of $1,500,000 in total disbursements per fiscal year

Reduces the maximum annual cap for SMART Business Rebates from $5,000,000 to $3,500,000; rebates equal 25% of qualified research costs for investors partnering with Mississippi colleges and research corporations

Requires IHL to review applications and issue or refuse certificates within 60 days for both the rebate program and the new Accelerate Initiative

Expands reporting requirements so IHL must annually report to the Governor and Legislature on both rebate recipients and Accelerate Initiative disbursements, including applicant names, research descriptions, and amounts

Sets a sunset date of July 1, 2026 for the entire SMART Business Act, with an effective date of July 1, 2021