Bill Text: MS SB2041 | 2015 | Regular Session | Introduced
Bill Title: Tourism project incentive program; remove references to "cultural retail attractions."
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2015-02-03 - Died In Committee [SB2041 Detail]
Download: Mississippi-2015-SB2041-Introduced.html
MISSISSIPPI LEGISLATURE
2015 Regular Session
To: Finance
By: Senator(s) Hale
Senate Bill 2041
AN ACT TO AMEND SECTIONS 57-26-1 AND 57-26-5, MISSISSIPPI CODE OF 1972, TO REMOVE REFERENCES TO "CULTURAL RETAIL ATTRACTIONS" IN THE PROVISIONS OF LAW THAT GOVERN THE TOURISM PROJECT INCENTIVE PROGRAM; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 57-26-1, Mississippi Code of 1972, is amended as follows:
57-26-1. As used in Sections 57-26-1 through 57-26-5, the following terms and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:
(a) "Approved project costs" means actual costs incurred by an approved participant for land acquisition, construction, engineering, design and other costs approved by the Mississippi Development Authority relating to a tourism project; however, for the purposes of a tourism project described in paragraph (d)(iv) of this section, such costs include only those incurred after January 1, 2011, relating to the hotel portion of the project consisting of facilities used for lodging and common areas in that portion of the project. All costs must be verified by an independent third party approved by the MDA. An approved participant shall pay the costs for the third-party verification of costs. Approved project costs may not increase regardless of the actual costs incurred by the project.
(b) "Approved participant" means a person, corporation or other entity issued a certificate by the Mississippi Development Authority under Section 57-26-5.
(c) "MDA" means the Mississippi Development Authority.
(d) "Tourism project" shall include any of the following as may be approved by the MDA:
(i) Theme parks, water parks, entertainment parks or outdoor adventure parks, cultural or historical interpretive educational centers or museums, motor speedways, indoor or outdoor entertainment centers or complexes, convention centers, professional sports facilities, spas, attractions created around a natural phenomenon or scenic landscape and marinas open to the public with a minimum private investment of not less than Ten Million Dollars ($10,000,000.00);
(ii) A hotel with a minimum private investment of Forty Million Dollars ($40,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority, and having a minimum private investment of One Hundred Fifty Thousand Dollars ($150,000.00) per guest room which amount shall be included within the minimum private investment of Forty Million Dollars ($40,000,000.00);
(iii) A public golf course with a minimum private investment of Ten Million Dollars ($10,000,000.00);
(iv) A full service hotel with a minimum private investment of Fifteen Million Dollars ($15,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority, and having a minimum private investment of Two Hundred Thousand Dollars ($200,000.00) per guest room or suite which amount shall be included within the minimum private investment of Fifteen Million Dollars ($15,000,000.00), a minimum of twenty-five (25) guest rooms or suites, and guest amenities such as restaurants, spas and other amenities as determined by the Mississippi Development Authority;
(v) A tourism attraction located within an "entertainment district" as defined in Section 17-29-3 that is open to the public, has seating to accommodate at least forty (40) persons, is open at least five (5) days per week from at least 6:00 p.m. until midnight, serves food and beverages, and provides live entertainment at least three (3) nights per week;
* * *
( * * *vi) A tourism attraction located
within a historic district where the district is listed in the National
Register of Historic Places, where the tourism attraction is open to the
public, has seating to accommodate at least forty (40) persons, is open at
least five (5) days per week from at least 6:00 p.m. until midnight, serves
food and beverages, and provides live entertainment at least three (3) nights
per week.
The term "tourism project" does not include any licensed gaming establishment owned, leased or controlled by a business, corporation or entity having a gaming license issued under Section 75-76-1 et seq.; however, the term "tourism project" may include a project described in this paragraph (d) that is owned, leased or controlled by such a business, corporation or entity or in which the business, corporation or entity has a direct or indirect financial interest if the project is in excess of development that the State Gaming Commission requires for the issuance or renewal of a gaming license and is not part of a licensed gaming establishment in which gaming activities are conducted.
The term "tourism
project" does not include any facility within the project whose primary
business is retail sales or any expansions of existing projects; however, pro
shops, souvenir shops, gift shops, concessions and similar retail activities * * * may be
included within the definition of the term "tourism project." In
addition, retail activities, regardless of whether the primary business is
retail sales, that are part of a resort development may be included within the
definition of "tourism project."
(e) "Resort development" means a travel destination development with a minimum private investment of One Hundred Million Dollars ($100,000,000.00) and which consists of (i) a hotel with a minimum of two hundred (200) guest rooms or suites and having a minimum private investment of Two Hundred Thousand Dollars ($200,000.00) per guest room or suite, and (ii) guest amenities such as restaurants, golf courses, spas, fitness facilities, entertainment activities and other amenities as determined by the MDA. Not more than an amount equal to forty percent (40%) of the private investment required by this paragraph may be expended on facilities to house retail activity.
* * *
( * * *f) "Retail activity" means
businesses whose inventory consists primarily of upscale name brands or their
equivalent as determined by the MDA.
( * * *g) "State" means the State
of Mississippi.
SECTION 2. 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 57-26-5 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 57-26-5 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, he 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. 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, 2016 * * *.
(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 3. The amendments to Sections 57-26-1 and 57-26-5 as contained in Sections 1 and 2 of this act shall not affect the ability of cultural retail properties that have been issued a certificate of participation by the MDA to participate in the program established in Section 57-26-1 et seq. under the terms and conditions of such program as they existed prior to the effective date of this act.
SECTION 4. This act shall take effect and be in force from and after its passage.
