Bill Text: MS HB799 | 2015 | Regular Session | Introduced
Bill Title: Gaming revenues; distribute portion to the Mississippi Development Fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2015-02-03 - Died In Committee [HB799 Detail]
Download: Mississippi-2015-HB799-Introduced.html
MISSISSIPPI LEGISLATURE
2015 Regular Session
To: Gaming; Ways and Means
By: Representative Hines
House Bill 799
AN ACT TO AMEND SECTION 75-76-129, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE DIVERSION OF A PORTION OF THE STATE GAMING REVENUES TO THE MISSISSIPPI DELTA DEVELOPMENT FUND; TO CREATE THE MISSISSIPPI DELTA DEVELOPMENT FUND; TO PROVIDE THAT MONIES IN THE FUND SHALL BE DISBURSED TO THE MISSISSIPPI DELTA STRATEGIC COMPACT FOR USE BY THE COMPACT FOR THE PURPOSE OF PROVIDING FUNDS TO
ASSIST IN PROMOTING ECONOMIC DEVELOPMENT IN THE MISSISSIPPI DELTA REGION; TO CREATE THE MISSISSIPPI RIVER DELTA PROMISE ZONE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 75-76-129, Mississippi Code of 1972, is amended as follows:
[Through June 30, 2022,
this section shall read as follows:] 75-76-129. On or before the last day
of each month all taxes, fees, interest, penalties, damages, fines or other
monies collected by the * * *State Tax Commission Department of Revenue during that
month under the provisions of this chapter, with the exception of (a) the local
government fees imposed under Section 75-76-195, (b) an amount equal to Three
Million Dollars ($3,000,000.00) of the revenue collected pursuant to the fee
imposed under Section 75-76-177(1)(c) and (c) an amount equal to ten percent
(10%) of the revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c),
shall be paid by the * * * Department of Revenue to the State Treasurer
to be deposited in the State General Fund. The local government fees shall be
distributed by the * * * Department of Revenue pursuant to Section 75-76-197.
An amount equal to Three Million Dollars ($3,000,000.00) of the revenue
collected during that month pursuant to the fee imposed under Section 75-76-177(1)(c)
shall be deposited by the * * *State Tax Commission Department of Revenue into the
bond sinking fund created in Section 65-39-3. An amount equal to ten
percent (10%) of the revenue collected pursuant to the fee imposed under
Section 75-76-177(1)(c) shall be deposited by the Department of Revenue into
the Mississippi Delta Development Fund created in Section 2 of this act.
[From and after July 1, 2022, this section shall read as follows:]
75-76-129. On or before the
last day of each month, all taxes, fees, interest, penalties, damages, fines or
other monies collected by the * * * Department of Revenue
during that month under the provisions of this chapter, with the exception of (a)
the local government fees imposed under Section 75-76-195 and (b) an amount
equal to ten percent (10%) of the revenue collected pursuant to the fee imposed
under Section 75-76-177(1)(c), shall be paid by the * * * Department of Revenue
to the State Treasurer to be deposited in the State General Fund. The local
government fees shall be distributed by the * * * Department of Revenue
pursuant to Section 75-76-197. An amount equal to ten percent (10%) of the
revenue collected pursuant to the fee imposed under Section 75-76-177(1)(c)
shall be deposited by the Department of Revenue into the Mississippi Delta
Development Fund created in Section 2 of this act.
SECTION 2. (1) There is created in the State Treasury a special fund to be designated as the "Mississippi Delta Development Fund." The fund shall consist of such monies deposited therein as provided under Section 75-76-129 and funds from any other source designated for deposit into such fund. Monies in the fund shall be disbursed, upon appropriation by the Legislature, to the Mississippi Delta Strategic Compact for use by the compact for the purpose of providing funds to assist in carrying out the purposes of subsection (2) of this section. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited to the credit of the fund.
(2) (a) For purposes of this section, the Mississippi River Delta Promise Zone, which may be hereinafter referred to as the Promise Zone, shall be composed, in whole or in part, of the Counties of Adams, Bolivar, Carroll, Claiborne, Coahoma, Holmes, Humphreys, Issaquena, Jefferson, Leflore, Panola, Quitman, Sharkey, Sunflower, Tallahatchie, Tunica, Warren, Washington and Yazoo.
(b) The Promise Zone, which is a rural development initiative, shall revitalize the Mississippi Delta Region through the creating of jobs, increasing public/private investment, enhancing community development and raising educational attainment.
(c) The Promise Zone shall utilize a regional approach to develop opportunities, offer new federal, state and local incentives for development.
(d) To create a better economic climate and increase opportunities for development, the Promise Zone shall utilize resources generated from the region to leverage other investments.
(3) (a) The Mississippi Development Authority shall develop new strategies for the economically challenged areas in the Delta Region that will increase business activities for the Promise Zone.
(b) The Promise Zone shall be governed by a board that is composed of individuals from the following entities, but not limited to such entities:
(a) Colleges and universities;
(b) Counties and municipalities;
(c) Local and regional development organizations;
(d) Banking and finance;
(e) Small business owners; and
(f) Entities that encourage innovation and achievement.
(c) The Promise Zone shall be administered by the Mississippi Delta Strategic Compact, which is an organization that is exempt under Section 501(c)(3) of the Internal Revenue Code, whose primary goal is to implement the mandate from the Legislature to begin a region-wide process to revitalize the Mississippi Delta Region, and whose further goal is to implement the 2009 action plan submitted by the Delta Revitalization Task Force, as required by the Legislature.
SECTION 3. This act shall take effect and be in force from and after July 1, 2015.
