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MS SB2681
Bill
AI Summary
- Amends Section 57-80-9 of the Mississippi Code to modify when tax exemptions under the Growth and Prosperity Act are terminated for additional business enterprises
- Terminates new tax exemptions if a county's annualized unemployment rate falls below 150% of the state's rate for three consecutive calendar years AND less than 30% of the population is at or below the federal poverty level for three consecutive years based on U.S. Census Bureau data
- Changes the timing requirement by removing a specific reference to December 31 of the third consecutive year, clarifying that the three-year poverty level threshold applies consistently
- Effective date of June 30, 2023
Legislative Description
Mississippi Development Authority; clarify time trigger for tax exemption cutoff under Growth and Prosperity Act.
Last Action
Approved by Governor
3/10/2023
Committee Referrals
Ways and Means2/15/2023
Finance1/16/2023
Full Bill Text
No bill text available