MS HB750

Extends the Strengthening Mississippi Academic Research Through Business (SMART Business) Act repeal date from July 1, 2026 to July 1, 2029

SMART Business Rebate provides investors a 25% rebate on qualified research costs paid to Mississippi colleges or research corporations, capped at $1,000,000 per investor per fiscal year

Total state rebates under the SMART Business Rebate program cannot exceed $3,500,000 annually

SMART Business Accelerate Initiative provides grants up to $150,000 per applicant for research validation expenses to commercialize state-owned intellectual property, with total annual disbursements capped at $1,500,000

Board of Trustees of State Institutions of Higher Learning must file annual reports before December 1 detailing rebate recipients, amounts, and accelerate initiative disbursements