MS SB2874

Changes the lease or contract requirement for operating the Mississippi Arts and Entertainment Center from mandatory to discretionary regarding nonprofit corporation payment of utility costs.

Establishes the Mississippi Arts and Entertainment Center in Meridian to serve as an educational and entertainment facility celebrating Mississippi's arts and entertainment legacy.

Authorizes the Department of Finance and Administration to lease or contract with a nonprofit corporation for up to 50 years to operate the center and establish agreement terms.

Exempts the nonprofit corporation and its property from all ad valorem taxation including school, city, and county taxes for the lease or contractual agreement term.

Allows the nonprofit corporation to receive and expend funds from public and private sources and exempts the center's construction from energy performance requirements in Section 31-11-35.