HB 4045

An act to amend section 27-7-30, mississippi code of 1972, to provide that the income tax exemption for income arising from certain data center projects shall not apply to any calendar year after calendar year 2026; To amend section 57-75-5, mississippi code of 1972, to revise the definition of the term project under the mississippi major economic impact act; To amend section 27-31-104, mississippi code of 1972, to provide that for any project with a capital investment IN excess of $2,000,000,000.00 for which a fee-in-lieu of ad valorem tax agreement is entered into after july 1, 2026, a portion of the sum allowed as a fee-in-lieu on the portion of the project IN excess of $1,000,000,000.00 shall be deposited into the mississippi strategic development fund created IN this act; To extend the date of the reverter on the section of law; To create the "mississippi strategic development fund" as a special fund IN the state treasury; To provide the purposes for which monies IN the fund shall be expended by the mississippi development authority, upon appropriation by the legislature to bring forward section 27-31-105, mississippi code of 1972, which authorizes county boards of supervisors and municipal authorities to grant a fee-in-lieu of ad valorem taxes for expansions of facilities OR properties, for the purposes of possible amendment; To amend section 19-9-151, 19-9-153 and 19-9-155, mississippi code of 1972, to revise the distribution of payments made by a nuclear generating plant in-lieu of ad valorem taxes; To amend section 27-35-309, mississippi code of 1972, to revise the formula providing for the allocation of the proceeds of the nuclear in-lieu tax paid to the department of revenue by the grand gulf nuclear power plant; And for related purposes.