MS SB2922 | 2016 | Regular Session

Status

Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on May 12 2016 - 100% progression
Action: 2016-05-12 - Approved by Governor
Text: Latest bill text (Enrolled) [HTML]

Summary

An Act To Amend Section 27-7-22.31, Mississippi Code Of 1972, To Which Authorizes An Income Tax Credit For Costs And Expenses Incurred For The Rehabilitation Of Certain Historic Structures, To Provide That The Credit Shall Not Apply To Single-family Dwelling Unless A Certificate Evidencing The Eligible Credit Has Been Issued To The Taxpayer By The Department Of Archives And History That Applies To Such Home Prior To July 1, 2016, Or The Dwelling Is Listed On The National Register Of Historic Places; To Increase The Maximum Aggregate Amount Of Tax Credits That May Be Awarded; To Limit The Amount Of Credits That May Be Awarded In Any One State Fiscal Year; To Grant Priority For The Tax Credit To Taxpayers Who Were Issued A Certificate Evidencing The Eligible Credit Prior To July 1, 2016; To Provide That The Tax Credit Shall Apply To Taxpayers Who Have Been Issued A Certificate Evidencing The Eligible Credit Before December 31, 2020, Or Who, Before December 31, 2020, Have Received A Determination In Writing From The Mississippi Department Of Archives And History That The Rehabilitation Is Consistent With The Historic Character Of The Property And That The Property Meets The United States Secretary Of The Interior's Standards For Rehabilitation And Who Are Issued A Certificate Evidencing The Eligible Credit On Or After December 31, 2020; To Amend Section 27-31-104, Mississippi Code Of 1972, As Amended By House Bill No. 1, 2016 First Extraordinary Session, To Provide That A Fee-in-lieu Of Ad Valorem Taxes Agreement May Extend For Up To 20 Years From The Commencement Of The Fee-in-lieu Period Granted Therein, However, No Particular Parcel Of Land, Real Property Improvement Or Item Of Personal Property Shall Be Subject To A Fee-in-lieu Of Ad Valorem Taxes For A Duration Of More Than Ten Years; To Amend Section 57-26-1, Mississippi Code Of 1972, To Revise The Definition Of The Terms "approved Project Costs" And "tourism Project" Under The Tourism Project Sales Tax Incentive Program; To Amend Section 57-26-5, Mississippi Code Of 1972, To Extend Until July 1, 2020, The Authority Of The Mississippi Development Authority To Issue Certificates Designating An Entity As An Approved Participant In The Tourism Project Sales Tax Incentive Program; To Amend Section 57-89-7, Mississippi Code Of 1972, To Extend Until July 1, 2017, The Authority Of The Department Of Revenue To Approve Applications For A Rebate Under The Mississippi Motion Picture Incentive Act; To Provide That Railroad Properties And Facilities Owned By A Limited Liability Company Or Other Entity That Is Wholly Owned By A Railroad Authority Created Under The Railroad Authorities Law Shall Be Exempt From Ad Valorem Taxation To The Same Extent As Property Owned By Such Railroad Authority; And For Related Purposes.

Tracking Information

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Title

Historic tax credit and MS Small Business Investment Act; increase amount of credits that may be allocated under.

Sponsors


Roll Calls

2016-04-18 - Senate - Senate Conference Report Adopted (Y: 50 N: 1 NV: 1 Abs: 0) [PASS]
2016-04-18 - House - House Conference Report Adopted (Y: 102 N: 13 NV: 6 Abs: 0) [PASS]
2016-04-04 - House - House Passed As Amended (Y: 108 N: 7 NV: 6 Abs: 0) [PASS]
2016-03-16 - Senate - Senate Passed As Amended (Y: 49 N: 1 NV: 1 Abs: 0) [PASS]

History

DateChamberAction
2016-05-12 Approved by Governor
2016-04-26HouseEnrolled Bill Signed
2016-04-26SenateEnrolled Bill Signed
2016-04-18SenateConference Report Adopted
2016-04-18HouseConference Report Adopted
2016-04-18HousePoint of Order-Not Well Taken
2016-04-18HouseSet Aside-Pend Ruling of Chair
2016-04-18HousePoint of Order Raised
2016-04-17SenateConference Report Filed
2016-04-17HouseConference Report Filed
2016-04-17SenateRecommitted For Further Conf
2016-04-17HouseRecommitted For Further Conf
2016-04-16SenateConference Report Filed
2016-04-16HouseConference Report Filed
2016-04-15HouseConferees Named Smith,Lamar,Zuber
2016-04-13SenateConferees Named Fillingane,Polk,Burton
2016-04-06SenateDecline to Concur/Invite Conf
2016-04-05HouseReturned For Concurrence
2016-04-05HouseMotion to Reconsider Tabled
2016-04-04HouseMotion to Reconsider Entered (Sykes, Smith, Lamar)
2016-04-04HousePassed As Amended
2016-04-04HouseAmended
2016-04-04HouseTitle Suff Do Pass As Amended
2016-04-01HouseReferred To Ways and Means
2016-03-18SenateTransmitted To House
2016-03-16SenatePassed As Amended
2016-03-16SenateAmended
2016-03-15SenateTitle Suff Do Pass
2016-03-14SenateReferred To Finance

Mississippi State Sources


Bill Comments

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