§ 57-115-1. Short title
This chapter shall be known and may be cited as the Mississippi Small Business Investment Company Act.
§ 57-115-11. Rules and regulations for implementation of chapter
The MDA and the department each may promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation and administration of this chapter.
§ 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 […]
§ 57-115-9. Annual review of small business investment companies; grounds for decertification; registration of investments for which tax credits are awarded; annual report by MDA; report contents
The MDA, or at its discretion the department, shall conduct an annual review of each Mississippi small business investment company to determine if a Mississippi small business investment company is abiding by the requirements of certification and to ensure that no investment has been made in violation this chapter. The cost of the annual review […]