S.B. 2001: Economic development; provide incentives for certain economic development projects.

An Act To Amend Section 57-75-5, Mississippi Code Of 1972, To Revise The Definition Of The Term "project" Under The Mississippi Major Economic Impact Act To Include Certain Data Processing Facilities; To Revise The Definition Of The Terms "project Area" And "affiliate" Under The Mississippi Major Economic Impact Act; To Amend Section 57-75-9, Mississippi Code Of 1972, To Provide That Contracts By The Mississippi Major Economic Impact Authority Or A Public Agency For Certain Contracts Related To The Projects Included In This Act Shall Be Exempt From All Or A Portion Of The Provisions Of Section 31-7-13 And That Such Contracts May Be Awarded On The Basis Of Negotiation Under Certain Circumstances And To Authorize The Use Of Additional Methods Of Contracting; To Authorize The Mississippi Department Of Employment Security To Provide Project related Jobs Data To The Mississippi Major Economic Impact Authority For Certain Projects; To Amend Section 57-75-11, Mississippi Code Of 1972, To Grant The Mississippi Major Economic Impact Authority Certain Additional Powers And Duties With Regard To The Projects Included In This Act; To Amend Section 57-75-15, Mississippi Code Of 1972, To Authorize The Issuance Of State General Obligation Bonds For The Projects Included In This Act And To Specify The Purposes For Which The Proceeds Of Such Bonds May Be Utilized; To Amend Section 57-75-17, Mississippi Code Of 1972, To Provide Protection For Certain Data Center Projects, From Surface Or Subsurface Mineral Exploration Activities; To Amend Section 57-75-33, Mississippi Code Of 1972, To Provide That The Board Of Supervisors Of A County And The Governing Authorities Of A Municipality May Enter Into An Agreement With One Or More Enterprises Owning And/or Operating Certain Data Center Facilities, And/or One Or More Affiliates Thereof, Providing That The County And Municipality Will Not Levy Any Taxes, Fees Or Assessments Upon The Enterprise Other Than Taxes, Fees Or Assessments That Are Generally Levied Upon All Taxpayers And To Authorize The Board Of Supervisors Of A County And The Governing Authorities Of A Municipality To Enter Into One Or More Fee in lieu Of Ad Valorem Taxes Agreement With The Enterprises Owning And/or Operating Such Projects; To Amend Section 57-75-37, Mississippi Code Of 1972, To Authorize A County In Which Certain Data Center Projects Are Located To Assist The Enterprises Establishing The Projects, And Their Affiliates, Together With Certain Public Agencies, In Defraying Certain Costs; To Authorize Such A County To Provide Funds For Such Purposes By Appropriating Money From Its General Fund Or From The Proceeds Of General Obligation Bonds Issued By The County And/or Loans, Grants And Other Funds From The Mississippi Major Economic Impact Authority Or Mississippi Development Authority; To Authorize Certain Public Agencies To Provide Funds For Such Purposes By Appropriating Money From Certain Sources, Including From The Proceeds Of Loans, Grants And Other Funds From The Mississippi Major Economic Impact Authority; To Authorize Certain Transfers And Conveyances Of Real Or Personal Property With Or Without Consideration; To Authorize Certain Public Agencies To Make Grants To Each Other In Connection With Such A Project; To Exempt The Acquisition Of Certain Real Property And/or Options To Purchase Such Real Property For Such Projects From Certain Requirements; To Authorize Certain Public Agencies To Provide Periodic Grants And Other Such Contributions Of Funds To Assist The Enterprises Establishing The Projects Included In This Act And To Enter Into Certain Agreements In Connection Therewith; To Specify The Limit Of The Terms Of Agreements Binding On Future Governing Authorities With Enterprises To Provide Firefighting, Hazardous Materials Emergency Response, Technical Rescue And Medical Response Assistance For Certain Projects; To Amend Section 27-65-101, Mississippi Code Of 1972, To Exempt From Sales Taxation Certain Sales Or Leases To Enterprises Operating The Projects Included In This Act And Certain Affiliates Thereof; To Amend Section 27-65-107, Mississippi Code Of 1972, To Exempt From Sales Taxation Certain Sales Of Electricity, Current, Power, Steam, Coal, Natural Gas, Liquefied Petroleum Gas Or Other Fuel To Enterprises Operating The Projects Included In This Act And Certain Affiliates Thereof; To Amend Section 27-7-30, Mississippi Code Of 1972, To Provide An Income Tax Exemption For Income Arising From Certain Data Center Projects; To Amend Section 31-19-25, Mississippi Code Of 1972, To Provide That Certain Provisions Regarding The Issuance Of Bonds Or Incurrence Of Other Indebtedness Shall Not Apply To The Sale Of Bonds Or Incurrence Of Indebtedness By A County In Connection With Certain Data Center Projects; To Amend Section 43-37-3, Mississippi Code Of 1972, In Conformity To The Provisions Of This Act; To Amend Sections 27-13-5 And 27-13-7, Mississippi Code Of 1972, To Provide That In Regard To Certain Data Center Projects, The Duration Of Any Fee in lieu Of Franchise Tax Agreement Shall Not Extend Beyond The Date The Mississippi Franchise Tax Is Repealed And Such Agreement Shall Apply Only To New Franchise Tax Liability Connected With The Projects Included In This Act; To Provide That In The Event That The Annual Number Of Full time Jobs Maintained Connected With Any Such Project Falls Below The Agreed Upon Amount For A Prescribed Period, The Franchise Tax Fee in lieu For The Project Shall Be Reduced Or Suspended Until The First Tax Year During Which The Annual Number Of Full time Jobs Maintained Reaches The Agreed Upon Amount; To Amend Section 19-9-5, Mississippi Code Of 1972, In Conformity To The Provisions Of This Act; To Amend Section 27-31-104, Mississippi Code Of 1972, To Provide For The Alternative Allocation Of A Portion Of Any Fee in lieu Of Ad Valorem Taxes For Certain Data Projects To The Mississippi Major Economic Impact Authority And/or Mississippi Development Authority To Repay Amounts Provided Thereby To Any County, Municipality And/or Public Agency To Fund Public Improvements And Related Costs In Connection With Such Project; To Provide For Incentive Payments To Entities That Incur Certain Costs For The Purpose Of Locating Certain Projects Developed Under The Mississippi Major Economic Impact Act In This State; To Provide For The Amount Of The Incentive Payments; To Provide That The Payments Shall Be Based On Certain Costs Incurred; To Create A Special Fund In The State Treasury Into Which Shall Be Deposited A Portion Of The State Sales Tax Revenue; To Provide That Monies In The Special Fund Shall Be Used To Make The Required Incentive Payments; To Provide That Claims For Incentive Payments Shall Be Filed With The Mississippi Development Authority; To Authorize The Mississippi Development Authority To Develop And Administer Such Incentive Program; To Amend Section 27-65-75, Mississippi Code Of 1972, In Conformity Thereto; To Amend Section 57-1-64.2, Mississippi Code Of 1972, To Conform To A Change In Subsection Designation; To Provide For The Acceleration Of Certain Public Utility Approval Requirements As Required In Section 77-3-1 Et Seq.; To Amend Sections 77-3-10, 77-3-11, 77-3-13, 77-3-14, 77-3-16, 77-3-35, 77-3-37, 77-3-39, 77-3-41, 77-3-93 And 77-3-95, Mississippi Code Of 1972, To Conform; And For Related Purposes.

As published by the legislature, found through LegiScan, source 1. It is the legislature's own line about the measure, not a summary of it.