Bill Amendment: MS HB396 | 2023 | Regular Session
Bill Title: Tourism Project Sales Tax Incentive Program; extend authority of MDA to approve participants for projects.
Status: 2023-03-08 - Died On Calendar [HB396 Detail]
Download: Mississippi-2023-HB396-Senate_Committee_Amendment_No_1.html
Pending
COMMITTEE AMENDMENT NO 1 PROPOSED TO
House Bill No. 396
BY: Committee
Amend by striking all after the enacting clause and inserting in lieu thereof the following:
SECTION 1. Section 57-26-5, Mississippi Code of 1972, is amended as follows:
57-26-5. (1) The MDA shall
develop, implement and administer the incentive program authorized in Sections
57-26-1 through * * * this section and
shall promulgate rules and regulations necessary for the development,
implementation and administration of such program.
(2) A person, corporation
or other entity desiring to participate in the incentive program authorized in
Sections 57-26-1 through * * * this section must
submit an application and an application fee in the amount of Five Thousand
Dollars ($5,000.00) to the MDA. Such application must contain: (a)
plans for the proposed tourism project; (b) a detailed description of the
proposed tourism project; (c) the method of financing the proposed tourism
project and the terms of such financing; (d) an independent study that identifies
the number of out-of-state visitors anticipated to visit the project and the
ratio of out-of-state visitors to in-state visitors; and (e) any other
information required by the MDA. The Executive Director of the MDA shall
review the application and determine if it qualifies as a tourism project under
this section and under the rules and regulations promulgated pursuant to this
section. If the executive director determines the proposed tourism project
qualifies as a tourism project under this section and under the rules and
regulations promulgated pursuant to this section, * * * the director shall issue a
certificate to the person, corporation or other entity designating such person,
corporation or other entity as an approved participant and authorizing the
approved participant to participate in the incentive program provided for in
Sections 57-26-1 through * * *57‑26‑5 this section. No certificate
designating an entity as an approved participant and authorizing the approved
participant to participate in the incentive program shall be issued from and
after July 1, 2014, for tourism projects that are cultural retail attractions,
or from and after July 1, * * *2023 2027, for other tourism projects. For tourism
projects that are cultural retail attractions, no such issued certificate shall
be altered or extended after the date last approved as of July 1, 2020.
(3) The MDA shall cause a
cost-benefit analysis of the tourism project to be performed by a state
institution of higher learning, the * * * University Research Center or some other
entity approved by the MDA.
SECTION 2. This act shall take effect and be in force from and after July 1, 2023.
Further, amend by striking the title in its entirety and inserting in lieu thereof the following:
AN ACT TO AMEND SECTION 57-26-5, MISSISSIPPI CODE OF 1972, TO EXTEND THE AUTHORITY OF THE MISSISSIPPI DEVELOPMENT AUTHORITY TO ISSUE A CERTIFICATE DESIGNATING AN ENTITY AS AN APPROVED PARTICIPANT AND AUTHORIZING THE APPROVED PARTICIPANT TO PARTICIPATE IN THE TOURISM PROJECT SALES TAX INCENTIVE PROGRAM; AND FOR RELATED PURPOSES.
