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Mississippi House Bill HB1241

Mississippi 2025 Regular Session

Mississippi House Bill HB1241 Compare Versions

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11 MISSISSIPPI LEGISLATURE 2025 Regular Session To: Ways and Means By: Representative Lamar House Bill 1241 AN ACT TO AMEND SECTION 57-26-1, MISSISSIPPI CODE OF 1972, TO INCREASE THE MINIMUM PRIVATE INVESTMENT REQUIRED FOR CERTAIN TOURISM PROJECTS TO BE ELIGIBLE FOR INCENTIVE PAYMENTS FROM THE TOURISM PROJECT SALES TAX INCENTIVE FUND; TO AMEND SECTION 57-26-7, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE BY WHICH APPLICATIONS UNDER THE INCENTIVE PAYMENT PROGRAM MUST BE SUBMITTED TO THE MISSISSIPPI DEVELOPMENT AUTHORITY; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 57-26-1, Mississippi Code of 1972, is amended as follows: 57-26-1. As used in Sections 57-26-1 through 57-26-5, the following terms and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise: (a) "Approved project costs" means actual costs incurred by an approved participant for land acquisition, construction, engineering, design and other costs approved by the Mississippi Development Authority relating to a tourism project; however, for the purposes of a tourism project described in paragraph (d)(iv) of this section, such costs include only those incurred after January 1, 2011, relating to the hotel portion of the project consisting of facilities used for lodging and common areas in that portion of the project. All costs must be verified by an independent third party approved by the MDA. An approved participant shall pay the costs for the third-party verification of costs. Approved project costs may not increase regardless of the actual costs incurred by the project. (b) "Approved participant" means a person, corporation or other entity issued a certificate by the Mississippi Development Authority under Section 57-26-5. (c) "MDA" means the Mississippi Development Authority. (d) "Tourism project" shall include any of the following as may be approved by the MDA: (i) Theme parks, water parks, entertainment parks or outdoor adventure parks, cultural or historical interpretive educational centers or museums, motor speedways, indoor or outdoor entertainment centers or complexes, convention centers, professional sports facilities, spas, attractions created around a natural phenomenon or scenic landscape and marinas open to the public with a minimum private investment of not less than Ten Million Dollars ($10,000,000.00); (ii) A hotel with a minimum private investment of * * *Forty Million Dollars ($40,000,000.00) Fifty Million Dollars ($50,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority, and having a minimum private investment of * * *One Hundred Fifty Thousand Dollars ($150,000.00) Two Hundred Thousand Dollars ($200,000.00) per guest room which amount shall be included within the minimum private investment of * * *Forty Million Dollars ($40,000,000.00) Fifty Million Dollars ($50,000,000.00); (iii) A public golf course with a minimum private investment of Ten Million Dollars ($10,000,000.00); (iv) A full service hotel with a minimum private investment of * * *Fifteen Million Dollars ($15,000,000.00) Twenty-five Million Dollars ($25,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority, and having a minimum private investment of * * *Two Hundred Thousand Dollars ($200,000.00) Two Hundred Fifty Thousand Dollars ($250,000.00) per guest room or suite which amount shall be included within the minimum private investment of * * *Fifteen Million Dollars ($15,000,000.00) Twenty-five Million Dollars ($25,000,000.00), a minimum of twenty-five (25) guest rooms or suites, and guest amenities such as restaurants, spas and other amenities as determined by the Mississippi Development Authority; however, in a county in which the Grammy Museum Mississippi or the Mississippi Arts and Entertainment Center is located, in a county in which the Saenger Theater and the main campus of a state institution of higher learning are located, and in the downtown historic district of the city in which the NWCC Performing Arts Center is located, the minimum private investment per guest room or suite shall be * * *One Hundred Fifty Thousand Dollars ($150,000.00) Two Hundred Thousand Dollars ($200,000.00) which amount shall be included within the minimum private investment of * * *Fifteen Million Dollars ($15,000,000.00) Twenty-five Million Dollars ($25,000,000.00); (v) A tourism attraction located within an "entertainment district" as defined in Section 17-29-3 that is open to the public, has seating to accommodate at least forty (40) persons, is open at least five (5) days per week from at least 6:00 p.m. until midnight, serves food and beverages, and provides live entertainment at least three (3) nights per week; (vi) A cultural retail attraction; (vii) A tourism attraction located within a historic district where the district is listed in the National Register of Historic Places, where the tourism attraction is open to the public, has seating to accommodate at least forty (40) persons, is open at least five (5) days per week from at least 6:00 p.m. until midnight, serves food and beverages, and provides live entertainment at least three (3) nights per week; (viii) A tourism attraction, located in a county bordered by the Mississippi River and including Interstate 69 and U.S. Highways 3, 4 and 61, with a minimum investment of One Hundred Million Dollars ($100,000,000.00) and subject to an urban renewal plan that redevelops two (2) hotels, a golf course and clubhouse, a shooting range and a convention center and develops an entertainment center and waterpark, together with other attraction-related amenities, on an area not less than two thousand (2,000) acres. The term "tourism project" does not include any licensed gaming establishment owned, leased or controlled by a business, corporation or entity having a gaming license issued under Section 75-76-1 et seq.; however, the term "tourism project" may include a project described in this paragraph (d) that is owned, leased or controlled by such a business, corporation or entity or in which the business, corporation or entity has a direct or indirect financial interest if the project is in excess of development that the State Gaming Commission requires for the issuance or renewal of a gaming license and is not part of a licensed gaming establishment in which gaming activities are conducted. The term "tourism project" does not include any facility within the project whose primary business is retail sales or any expansions of existing projects; however, pro shops, souvenir shops, gift shops, concessions and similar retail activities, and cultural retail attractions may be included within the definition of the term "tourism project." In addition, retail activities, regardless of whether the primary business is retail sales, that are part of a resort development may be included within the definition of "tourism project." (e) "Resort development" means a travel destination development with a minimum private investment of * * *One Hundred Million Dollars ($100,000,000.00) Two Hundred Million Dollars ($200,000,000.00) and which consists of (i) a hotel with a minimum of two hundred (200) guest rooms or suites and having a minimum private investment of Two Hundred Thousand Dollars ($200,000.00) per guest room or suite, and (ii) guest amenities such as restaurants, golf courses, spas, fitness facilities, entertainment activities and other amenities as determined by the MDA. Not more than an amount equal to * * *forty percent (40%) thirty percent (30%) of the private investment required by this paragraph may be expended on facilities to house retail activity. (f) "Cultural retail attraction" means a project which combines destination shopping with cultural or historical interpretive elements specific to Mississippi with a minimum private investment of Fifty Million Dollars ($50,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority and which: (i) Is located in a qualified resort area as defined in Section 67-1-5; (ii) Is a part of a master-planned development with a total investment of not less than One Hundred Million Dollars ($100,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority; (iii) Has a minimum of fifty (50) retail tenants with a minimum of three hundred thousand (300,000) square feet of heated and cooled space; and (iv) Has a minimum investment of One Million Dollars ($1,000,000.00) in one or more of the following: 1. Art created by Mississippi artists or portraying themes specific to Mississippi; 2. Memorabilia, signage or historical markers which serve to promote the State of Mississippi; 3. Audio/visual equipment used to showcase Mississippi artists; 4. A minimum of one thousand two hundred fifty (1,250) square feet of heated and cooled space available to the Mississippi Development Authority or its assignee for a period of not less than ten (10) years. (g) "Retail activity" means businesses whose inventory consists primarily of upscale name brands or their equivalent as determined by the MDA. (h) "State" means the State of Mississippi. SECTION 2. Section 57-26-7, Mississippi Code of 1972, is amended as follows: 57-26-7. The MDA shall not approve any application submitted after June 30, * * *2014 2027, pursuant to Section 57-26-5 for a project that includes any resort development. SECTION 3. This act shall take effect and be in force from and after July 1, 2025.
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33 MISSISSIPPI LEGISLATURE
44
55 2025 Regular Session
66
77 To: Ways and Means
88
99 By: Representative Lamar
1010
1111 # House Bill 1241
1212
1313 AN ACT TO AMEND SECTION 57-26-1, MISSISSIPPI CODE OF 1972, TO INCREASE THE MINIMUM PRIVATE INVESTMENT REQUIRED FOR CERTAIN TOURISM PROJECTS TO BE ELIGIBLE FOR INCENTIVE PAYMENTS FROM THE TOURISM PROJECT SALES TAX INCENTIVE FUND; TO AMEND SECTION 57-26-7, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE BY WHICH APPLICATIONS UNDER THE INCENTIVE PAYMENT PROGRAM MUST BE SUBMITTED TO THE MISSISSIPPI DEVELOPMENT AUTHORITY; AND FOR RELATED PURPOSES.
1414
1515 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
1616
1717 SECTION 1. Section 57-26-1, Mississippi Code of 1972, is amended as follows:
1818
1919 57-26-1. As used in Sections 57-26-1 through 57-26-5, the following terms and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:
2020
2121 (a) "Approved project costs" means actual costs incurred by an approved participant for land acquisition, construction, engineering, design and other costs approved by the Mississippi Development Authority relating to a tourism project; however, for the purposes of a tourism project described in paragraph (d)(iv) of this section, such costs include only those incurred after January 1, 2011, relating to the hotel portion of the project consisting of facilities used for lodging and common areas in that portion of the project. All costs must be verified by an independent third party approved by the MDA. An approved participant shall pay the costs for the third-party verification of costs. Approved project costs may not increase regardless of the actual costs incurred by the project.
2222
2323 (b) "Approved participant" means a person, corporation or other entity issued a certificate by the Mississippi Development Authority under Section 57-26-5.
2424
2525 (c) "MDA" means the Mississippi Development Authority.
2626
2727 (d) "Tourism project" shall include any of the following as may be approved by the MDA:
2828
2929 (i) Theme parks, water parks, entertainment parks or outdoor adventure parks, cultural or historical interpretive educational centers or museums, motor speedways, indoor or outdoor entertainment centers or complexes, convention centers, professional sports facilities, spas, attractions created around a natural phenomenon or scenic landscape and marinas open to the public with a minimum private investment of not less than Ten Million Dollars ($10,000,000.00);
3030
3131 (ii) A hotel with a minimum private investment of * * *Forty Million Dollars ($40,000,000.00) Fifty Million Dollars ($50,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority, and having a minimum private investment of * * *One Hundred Fifty Thousand Dollars ($150,000.00) Two Hundred Thousand Dollars ($200,000.00) per guest room which amount shall be included within the minimum private investment of * * *Forty Million Dollars ($40,000,000.00) Fifty Million Dollars ($50,000,000.00);
3232
3333 (iii) A public golf course with a minimum private investment of Ten Million Dollars ($10,000,000.00);
3434
3535 (iv) A full service hotel with a minimum private investment of * * *Fifteen Million Dollars ($15,000,000.00) Twenty-five Million Dollars ($25,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority, and having a minimum private investment of * * *Two Hundred Thousand Dollars ($200,000.00) Two Hundred Fifty Thousand Dollars ($250,000.00) per guest room or suite which amount shall be included within the minimum private investment of * * *Fifteen Million Dollars ($15,000,000.00) Twenty-five Million Dollars ($25,000,000.00), a minimum of twenty-five (25) guest rooms or suites, and guest amenities such as restaurants, spas and other amenities as determined by the Mississippi Development Authority; however, in a county in which the Grammy Museum Mississippi or the Mississippi Arts and Entertainment Center is located, in a county in which the Saenger Theater and the main campus of a state institution of higher learning are located, and in the downtown historic district of the city in which the NWCC Performing Arts Center is located, the minimum private investment per guest room or suite shall be * * *One Hundred Fifty Thousand Dollars ($150,000.00) Two Hundred Thousand Dollars ($200,000.00) which amount shall be included within the minimum private investment of * * *Fifteen Million Dollars ($15,000,000.00) Twenty-five Million Dollars ($25,000,000.00);
3636
3737 (v) A tourism attraction located within an "entertainment district" as defined in Section 17-29-3 that is open to the public, has seating to accommodate at least forty (40) persons, is open at least five (5) days per week from at least 6:00 p.m. until midnight, serves food and beverages, and provides live entertainment at least three (3) nights per week;
3838
3939 (vi) A cultural retail attraction;
4040
4141 (vii) A tourism attraction located within a historic district where the district is listed in the National Register of Historic Places, where the tourism attraction is open to the public, has seating to accommodate at least forty (40) persons, is open at least five (5) days per week from at least 6:00 p.m. until midnight, serves food and beverages, and provides live entertainment at least three (3) nights per week;
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4343 (viii) A tourism attraction, located in a county bordered by the Mississippi River and including Interstate 69 and U.S. Highways 3, 4 and 61, with a minimum investment of One Hundred Million Dollars ($100,000,000.00) and subject to an urban renewal plan that redevelops two (2) hotels, a golf course and clubhouse, a shooting range and a convention center and develops an entertainment center and waterpark, together with other attraction-related amenities, on an area not less than two thousand (2,000) acres.
4444
4545 The term "tourism project" does not include any licensed gaming establishment owned, leased or controlled by a business, corporation or entity having a gaming license issued under Section 75-76-1 et seq.; however, the term "tourism project" may include a project described in this paragraph (d) that is owned, leased or controlled by such a business, corporation or entity or in which the business, corporation or entity has a direct or indirect financial interest if the project is in excess of development that the State Gaming Commission requires for the issuance or renewal of a gaming license and is not part of a licensed gaming establishment in which gaming activities are conducted.
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4747 The term "tourism project" does not include any facility within the project whose primary business is retail sales or any expansions of existing projects; however, pro shops, souvenir shops, gift shops, concessions and similar retail activities, and cultural retail attractions may be included within the definition of the term "tourism project." In addition, retail activities, regardless of whether the primary business is retail sales, that are part of a resort development may be included within the definition of "tourism project."
4848
4949 (e) "Resort development" means a travel destination development with a minimum private investment of * * *One Hundred Million Dollars ($100,000,000.00) Two Hundred Million Dollars ($200,000,000.00) and which consists of (i) a hotel with a minimum of two hundred (200) guest rooms or suites and having a minimum private investment of Two Hundred Thousand Dollars ($200,000.00) per guest room or suite, and (ii) guest amenities such as restaurants, golf courses, spas, fitness facilities, entertainment activities and other amenities as determined by the MDA. Not more than an amount equal to * * *forty percent (40%) thirty percent (30%) of the private investment required by this paragraph may be expended on facilities to house retail activity.
5050
5151 (f) "Cultural retail attraction" means a project which combines destination shopping with cultural or historical interpretive elements specific to Mississippi with a minimum private investment of Fifty Million Dollars ($50,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority and which:
5252
5353 (i) Is located in a qualified resort area as defined in Section 67-1-5;
5454
5555 (ii) Is a part of a master-planned development with a total investment of not less than One Hundred Million Dollars ($100,000,000.00) in land, buildings, architecture, engineering, fixtures, equipment, furnishings, amenities and other related soft costs approved by the Mississippi Development Authority;
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5757 (iii) Has a minimum of fifty (50) retail tenants with a minimum of three hundred thousand (300,000) square feet of heated and cooled space; and
5858
5959 (iv) Has a minimum investment of One Million Dollars ($1,000,000.00) in one or more of the following:
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6161 1. Art created by Mississippi artists or portraying themes specific to Mississippi;
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6363 2. Memorabilia, signage or historical markers which serve to promote the State of Mississippi;
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6565 3. Audio/visual equipment used to showcase Mississippi artists;
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6767 4. A minimum of one thousand two hundred fifty (1,250) square feet of heated and cooled space available to the Mississippi Development Authority or its assignee for a period of not less than ten (10) years.
6868
6969 (g) "Retail activity" means businesses whose inventory consists primarily of upscale name brands or their equivalent as determined by the MDA.
7070
7171 (h) "State" means the State of Mississippi.
7272
7373 SECTION 2. Section 57-26-7, Mississippi Code of 1972, is amended as follows:
7474
7575 57-26-7. The MDA shall not approve any application submitted after June 30, * * *2014 2027, pursuant to Section 57-26-5 for a project that includes any resort development.
7676
7777 SECTION 3. This act shall take effect and be in force from and after July 1, 2025.