Mississippi Development Authority to file annual report regarding tax credits, loans, rebates and grants made, approved or awarded as result of negotiations involving economic development projects; contents

1. Law
2. Mississippi Code
3. Planning, Research and Development
4. Mississippi Development Authority
5. In General
6. Mississippi Development Authority to file annual report regarding tax credits, loans, rebates and grants made, approved or awarded as result of negotiations involving economic development projects; contents

1. The Mississippi Development Authority (MDA) shall file an annual report with the Governor, Secretary of State, Secretary of the Senate and the Clerk of the House of Representatives not later than October 1 of each year regarding all tax credits, loans, rebates and grants made, approved or awarded by MDA as a result of negotiations involving an economic development project. The report shall contain the following information:
   1. The total amount of incentives approved or awarded;
   2. The total amount of loans made by MDA;
   3. The total amount of grants awarded by MDA; and
   4. A description of standard terms for each loan program.
2. With respect to each client that receives or is awarded a tax credit, loan, rebate or grant referred to in subsection (1) of this section, the report shall include:
   1. The name and county of operation of the recipient;
   2. The amount of the loan, rebate or grant;
   3. The purpose of the loan, rebate or grant;
   4. The number of employees that the client agreed to hire, retain or train;
   5. The amount of the financial investment that the client expects to make in this state as a result of the economic development project; and
   6. A list of projects that have met contractual requirements and have been closed out by MDA.
3. The Department of Revenue shall provide MDA with the tax information that is required to be included in this report.

Download our app to see the most-to-date content.