Bill Amendment: MS HB1090 | 2020 | Regular Session
Bill Title: Tourism project sales tax incentive program; revise definition of "tourism project," extend authority of MDA to approve participants.
Status: 2020-06-17 - Died On Calendar [HB1090 Detail]
Download: Mississippi-2020-HB1090-Senate_Committee_Amendment_No_1.html
Pending
COMMITTEE AMENDMENT NO 1 PROPOSED TO
House Bill No. 1090
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 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, 2014, for tourism
projects that are cultural retail attractions, or from and after July 1, * * * 2021, 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 the
effective date of this act.
(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 its passage.
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 DEADLINE FROM JULY 1, 2020, TO JULY 1, 2021, ON THE AUTHORITY OF THE MISSISSIPPI DEVELOPMENT AUTHORITY (MDA) TO APPROVE PARTICIPANTS IN THE TOURISM PROJECT INCENTIVE PROGRAM; TO SPECIFY THAT, FOR TOURISM PROJECTS THAT ARE CULTURAL RETAIL ATTRACTIONS, NO ISSUED CERTIFICATES APPROVING PARTICIPANTS SHALL BE ALTERED OR EXTENDED AFTER THE DATE LAST APPROVED AS OF THE EFFECTIVE DATE OF THIS ACT; AND FOR RELATED PURPOSES.
