§ 57-75-1. Short title
This chapter shall be known and may be cited as the “Mississippi Major Economic Impact Act.”
§ 57-75-11. General powers and duties of authority
The authority, in addition to any and all powers now or hereafter granted to it, is empowered and shall exercise discretion and the use of these powers depending on the circumstances of the project or projects: To maintain an office at a place or places within the state. To employ or contract with architects, engineers, […]
§ 57-75-13. Powers and duties of Board of Trustees of State Institutions of Higher Learning
The Board of Trustees of State Institutions of Higher Learning is hereby authorized to support the project by creating institutes and developing curricula of direct benefit to the enterprise. Upon notification to the authority by the enterprise that the state has been selected as the site of the project, the Board of Trustees of State […]
§ 57-75-15. Powers and duties of State Bond Commission
[From and after July 1, 2022, this section shall read as follows:] Upon notification to the authority by the enterprise that the state has been finally selected as the site for the project, the State Bond Commission shall have the power and is hereby authorized and directed, upon receipt of a declaration from the authority […]
§ 57-75-17. Powers and duties of public agencies; provision in contracts or agreements between authority and public agency for payment of indebtedness; proceedings upon failure of public agency to pay indebtedness
For the purpose of aiding in the planning, design, undertaking and carrying out of the project or any facility related to the project, any public agency is authorized and empowered upon such terms, with or without consideration, as it may determine: To enter into agreements, which may extend over any period, with the authority respecting […]
§ 57-75-19. Approval by county, municipality and/or school district for development of project or facility
The authority shall not undertake to develop any project or facility related to the project within a county, municipality and/or school district without the concurrence of the affected county, municipality and/or school district.
§ 57-75-21. Expenditures with certain small business concerns
The authority shall set a goal to expend not less than ten percent (10%) of the total amounts expended by the authority on planning, construction, training, research, development, testing, evaluation, personal services, procurement, and for the operation and maintenance of any facilities or activities controlled by such authority, with minority small business concerns owned and […]
§ 57-75-22. Highway projects constructed or improved for certain projects under this chapter to be under jurisdiction of Mississippi Transportation Commission
Any highways or highway segments constructed or improved by the Mississippi Department of Transportation under the provisions of this chapter for a project as defined in Section 57-75-5(f)(iv) shall become a state highway and shall be placed under the jurisdiction of the Mississippi Transportation Commission for construction and maintenance.
§ 57-75-23. Construction of act
The provisions of this act are cumulative of other statutes now or hereafter enacted relating to the authority, and the authority may exercise all presently held powers in the furtherance of this act. If any section, paragraph, sentence, clause, phrase or any part of the provisions of this act is declared to be unconstitutional or […]
§ 57-75-25. Derivation of income from issuance of bonds by certain persons
No member of the Legislature, elected official or appointed official, or any partner or associate of any member of the Legislature, elected official or appointed official, shall derive any income from the issuance of any bonds under this act contrary to the provisions of Section 109, Mississippi Constitution of 1890, or Article 3, Chapter 4, […]
§ 57-75-27. Provision of buffer zone for NASA facility in Tishomingo County
Notwithstanding any provision of Chapter 61, Title 57, Mississippi Code of 1972, to the contrary, the Mississippi Major Economic Impact Authority shall certify to the Department of Economic and Community Development the amount of money necessary for the Major Economic Impact Authority to purchase land in fee simple to provide a buffer zone for the […]
§ 57-75-3. Legislative findings and declarations
The Legislature hereby finds and declares that: There exists in the State of Mississippi a continuing need for gainful employment for the citizens of this state. To help provide employment opportunities, a division within the Mississippi Development Authority should be created with power to secure the location and expansion within this state of major economic […]
§ 57-75-33. Counties and municipalities authorized to enter into agreements with enterprises operating certain projects, providing that no taxes, fees or assessments will be levied upon the enterprise other than those generally levied upon all taxpayers; counties and municipalities authorized to enter into fee in lieu of ad valorem taxes agreements
The board of supervisors of a county or the governing authorities of a municipality may each enter into an agreement with an enterprise operating a project as defined in Section 57-75-5(f)(iv)1, Section 57-75-5(f)(xxi), Section 57-75-5(f)(xxii), Section 57-75-5(f)(xxviii) or Section 57-75-5(f)(xxix), providing that the county or municipality will not levy any taxes, fees or assessments upon […]
§ 57-75-35. Counties and municipalities authorized to enter into agreements with enterprises operating certain projects, providing that a county or municipality will approve requests for exemption from ad valorem taxes by supplier
The board of supervisors of a county or the governing authorities of a municipality may enter into an agreement with an enterprise operating a project as defined in Section 57-75-5(f)(iv)1, Section 57-75-5(f)(xxi) or 57-75-5 (f)(xxii), providing that the board of supervisors or governing authorities will agree in advance to approve any request for exemption from […]
§ 57-75-37. Certain counties authorized to contribute or lend funds to enterprises owning or operating certain projects; county may issue bonds to provide funds for such purposes; county may donate property for use in the location, construction, or operation of such projects; additional authority to acquire and contribute project sites, apply for grants and loans for project infrastructure, and enter into certain lease agreements
(i) Any county in which there is to be constructed a project as defined in Section 57-75-5(f)(xviii) is authorized to assist in defraying the costs incurred or to be incurred by the enterprise establishing such project by: 1. Contributing a sum of up to Five Million Dollars ($5,000,000.00) to such enterprise for use in connection […]
§ 57-75-5. Definitions
Words and phrases used in this chapter shall have meanings as follows, unless the context clearly indicates a different meaning: “Act” means the Mississippi Major Economic Impact Act as originally enacted or as hereafter amended. “Authority” means the Mississippi Major Economic Impact Authority created pursuant to the act. “Bonds” means general obligation bonds, interim notes […]
§ 57-75-7. Creation of Mississippi Major Economic Impact Authority; executive director
There is created within the Department of Economic Development a division to be known as the “Mississippi Major Economic Impact Authority” for the performance of essential public functions. The Executive Director of the Department of Economic Development or his designee shall be the director of the authority. The director shall administer, manage and direct the […]
§ 57-75-9. Action by authority on behalf of state; cooperation of public agencies with authority; contracts by authority or public agency
The authority is hereby designated and empowered to act on behalf of the state in submitting a siting proposal for any project eligible for assistance under this act. The authority is empowered to take all steps appropriate or necessary to effect the siting, development, and operation of the project within the state, including the negotiation […]