MS SB2159

Creates the "Mississippi Flexible Tax Incentive Act" (mFlex) allowing the Mississippi Development Authority to certify businesses and award tax credits for qualifying economic development projects including manufacturing, warehousing, data centers, research facilities, and regional headquarters

Requires businesses to make a minimum qualified investment of $2.5 million or create at least 10 new full-time jobs, with tax credits calculated based on percentages of machinery purchases (1.5%), non-manufacturing equipment (7%), construction costs (2%), and payroll for new jobs (15-45% depending on wage levels)

Prohibits businesses receiving mFlex incentives from claiming other state tax credits and exemptions for the same project, and limits withholding tax credits to 20% of the total mFlex award per year, with unused credits expiring after 10 years

Amends the Mississippi Advantage Jobs Act and Mississippi Major Economic Impact Withholding Rebate Incentive Program to provide supplemental grants to qualifying businesses if income tax rate reductions taking effect January 1, 2023, reduce their incentive payments below what they would have received under prior tax rates

Establishes annual reporting requirements for participating businesses to verify job creation, investment levels, and wage thresholds, with the Mississippi Development Authority authorized to adjust or revoke incentive awards based on actual performance