§ 57-119-11. MDA authorized to establish programs for making loans, loan guarantees, grants, etc., to applicants with approved projects; prioritization of projects
MDA is further authorized, on such terms and conditions consistent with the criteria set forth in this section as it may determine, to establish programs for making loans, loan guarantees, grants and any other financial assistance from the GCRF to applicants whose projects are approved for assistance under this section. MDA shall establish criteria, rules […]
§ 57-113-21. Definitions
As used in this article: “Business enterprise” means any business enterprise owning or operating a data center with a minimum capital investment in this state of Twenty Million Dollars ($20,000,000.00) which will create a minimum of twenty (20) new, full-time jobs with a minimum average annual salary of not less than one hundred twenty-five percent […]
§ 57-113-23. Application for tax exemptions
Business enterprises wishing to apply for the tax exemptions authorized by this article shall make application to the MDA prior to construction or acquisition of the buildings for the location or expansion of the business enterprise in this state. The application, at a minimum, shall contain: An overview of the project that includes the selected […]
§ 57-113-25. Certification of eligibility for tax exemption; term of exemption; nontransferability of exemption; performance requirements of approved business enterprise
Upon approval of the application, the MDA shall issue a certification designating the business enterprise as eligible for the tax exemptions authorized by this article. This certification shall document the date by which all commitments must be met. Upon the issuance of the certification, the business enterprise shall be exempt from state taxes for a […]
§ 57-113-27. Promulgation of rules and regulations
The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation and administration of this article.
§ 57-115-1. Short title
This chapter shall be known and may be cited as the Mississippi Small Business Investment Company Act.
§ 57-115-3. Definitions
As used in this chapter, the following terms and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise: “Affiliate” means: Any person who, directly or indirectly, beneficially owns, controls, or holds power to vote fifteen percent (15%) or more of the outstanding voting securities or other voting ownership interest […]
§ 57-115-5. Application for small business investment credit; application for certification as small business investment company; computation of credit against investor’s state premium tax liability; allocation of tax credits
The MDA must provide a standardized format for applying for the Mississippi small business investment credit authorized under this chapter, and for certification as a Mississippi small business investment company. An applicant for certification as a primary Mississippi small business investment company must: 1. The approximate percentage of designated capital the applicant will invest in […]
§ 57-115-7. Requirements for maintaining certification as small business investment company; reports; distributions
To maintain its certification, a Mississippi small business investment company must make qualified investments as follows: Within two (2) years after the allocation date, a Mississippi small business investment company must invest an amount equal to at least thirty-five percent (35%) of its designated capital in qualified investments; and Within four (4) years after the […]
§ 57-113-5. Certification of eligibility for tax exemption; term of exemption; nontransferability of exemption; performance requirements of approved business enterprise
Upon approval of the application, the MDA shall issue certification designating the business enterprise as eligible for the tax exemptions authorized by this article. This certification shall document the date by which all commitments must be met. Upon the issuance of the certification, the business enterprise shall be exempt from state taxes for a period […]