Mississippi 2025 Regular Session

Mississippi House Bill HB1501

Introduced
1/20/25  
Refer
1/20/25  
Engrossed
2/12/25  
Refer
2/17/25  

Caption

Economic development project; revise certain definition of and allow counties and municipalities to enter into agreement with qualified business enterprises.

Impact

If passed, HB1501 will have significant implications for state and local economic development strategies. The bill gives local governments more authority to negotiate terms that support business developments, effectively allowing them to utilize tax revenues for funding projects that promote job creation and economic growth. The flexibility in agreements could incentivize businesses to establish operations in Mississippi, which might stimulate regional economies and improve job opportunities.

Summary

House Bill 1501 aims to amend Section 17-25-27 of the Mississippi Code to broaden the definition of an 'economic development project' by including qualified projects as defined in the Mississippi Flexible Tax Incentive Act. The bill seeks to empower county boards of supervisors and municipal governing authorities to enter into agreements with qualified business enterprises, allowing for better cooperation in funding or reimbursing project costs strictly through revenues generated by those projects. The agreements can be binding for future governing bodies and are designed to last for up to twenty years.

Sentiment

The response to HB1501 surrounds the concept of local versus state control in managing economic development. Proponents of the bill generally view it positively, arguing that it offers a practical solution for expanding economic opportunities. They see the potential for enhanced collaboration between local governments and businesses as beneficial for fostering economic prosperity. Meanwhile, limitations regarding accountability and oversight have raised concerns among critics, who fear that without careful regulation, such agreements could lead to misuse or inadequate public benefits.

Contention

There are notable points of contention regarding the duration and commitments of the agreements authorized under this bill. Opponents may argue that long-lasting agreements could tie the hands of future administrations, limiting their ability to respond to changing economic circumstances or public needs. The $10 million cap on reimbursements raises questions about financial risks and priorities in public funding. Careful consideration of the bill's stipulations and its long-term effects on local governance and community welfare is essential for evaluating this legislation.

Companion Bills

No companion bills found.

Previously Filed As

MS SB2001

Economic development; provide incentives for certain economic development projects.

MS HB1

Economic development; provide incentives for certain economic development projects.

MS SB2510

Counties and municipalities; authorize to enter into public-private partnership for purpose of economic development.

MS HB1211

Counties and municipalities; authorize to enter into certain agreement when utilizing certain federal funds.

MS SB2895

Economic development project; authorize county development authority to acquire and develop megasite for.

MS HB336

MS Accountability and Transparency Act; revise to include certain counties and municipalities.

MS HB40

MS Accountability and Transparency Act; revise to include certain counties and municipalities.

MS HB133

MS Accountability and Transparency Act; revise to include certain counties and municipalities.

MS HB1561

Ad valorem taxation; revise types of new enterprises eligible for tax exemption.

MS SB2014

Ad valorem taxes; consider annexed business "new enterprise" for purpose of eligibility for certain municipal tax exemptions.

Similar Bills

MS SB2846

Economic development projects; expand local government authority to enter certain agreements in support of.

MS HB1

Economic Development; provide incentives for certain economic development projects.

MS SB2001

Economic development; provide incentives for certain economic development projects.

MS HB958

Department of Information Technology Services; revise certain provisions relating to acquisition of technology services.

MS HB1

Economic development; provide incentives for certain economic development projects.

MS HB516

State agencies procurement; bring forward code sections related to.

MS HB271

State agencies procurement; bring forward code sections related to.

MS SB2858

Ad valorem tax; bring forward agricultural code sections.