HB591. Headquarters sales tax exemption and income tax credit; revise number of jobs necessary to qualify for, provide new exemption and credit.

Mississippi Legislature. 2013 Regular Session. House of Representatives.

Introduced:
Jan 21, 2013
Last Action:
Apr 26, 2013
Approved by Governor

State legislative information provided by LegiNation, Inc. and LegiScan, Inc. Some information also from Open States.

History

Jan 21, 2013: Referred To Ways and Means

Feb 25, 2013: Title Suff Do Pass Comm Sub

Feb 27, 2013: Committee Substitute Adopted

Feb 27, 2013: Passed

Mar 01, 2013: Transmitted To Senate

Mar 04, 2013: Referred To Finance

Mar 14, 2013: Title Suff Do Pass As Amended

Mar 19, 2013: Amended

Mar 19, 2013: Passed As Amended

Mar 20, 2013: Returned For Concurrence

Mar 21, 2013: Decline to Concur/Invite Conf

Mar 25, 2013: Conferees Named Smith (39th),Rogers (61st),Mayo

Mar 27, 2013: Conferees Named Fillingane,Kirby,Harkins

Mar 28, 2013: Conference Report Filed

Mar 28, 2013: Conference Report Filed

Mar 29, 2013: Conference Report Adopted

Mar 31, 2013: Conference Report Adopted

Apr 10, 2013: Enrolled Bill Signed

Apr 10, 2013: Enrolled Bill Signed

Apr 11, 2013: Due From Governor 04/29/13

Apr 26, 2013: Approved by Governor

Summary

AN ACT TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO LOWER TO 20 THE NUMBER OF JOBS THAT MUST BE CREATED AT THE HEADQUARTERS OF A COMPANY TRANSFERRING OR ESTABLISHING ITS NATIONAL OR REGIONAL HEADQUARTERS FROM WITHIN OR WITHOUT THIS STATE IN ORDER FOR THE COMPANY TO BE ELIGIBLE FOR THE SALES TAX EXEMPTION ON SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF, OR IMPROVEMENTS TO, ITS HEADQUARTERS BUILDING; TO AUTHORIZE A SALES TAX EXEMPTION FOR SALES OF COMPONENT MATERIALS USED IN THE CONSTRUCTION OF A BUILDING, OR ANY ADDITION OR IMPROVEMENT THEREON, AND SALES OF MACHINERY AND EQUIPMENT NOT LATER THAN THREE MONTHS AFTER THE COMPLETION OF THE BUILDING, ADDITION OR IMPROVEMENT THEREON, TO BE USED THEREIN, FOR ANY COMPANY EXPANDING OR MAKING ADDITIONS AFTER JANUARY 1, 2013, TO ITS NATIONAL OR REGIONAL HEADQUARTERS WITHIN THE STATE OF MISSISSIPPI AND CREATING A MINIMUM OF TWENTY NEW JOBS AT THE HEADQUARTERS AS A RESULT OF THE EXPANSION OR ADDITIONS; TO AMEND SECTION 57-73-21, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE DEPARTMENT OF REVENUE, RATHER THAN THE MISSISSIPPI DEVELOPMENT AUTHORITY, SHALL ESTABLISH CRITERIA AND PRESCRIBE PROCEDURES TO DETERMINE IF A COMPANY QUALIFIES AS A NATIONAL OR REGIONAL HEADQUARTERS FOR THE PURPOSE OF RECEIVING THE ADDITIONAL INCOME TAX CREDIT AUTHORIZED FOR A COMPANY TRANSFERRING OR ESTABLISHING ITS NATIONAL OR REGIONAL HEADQUARTERS FROM WITHIN OR WITHOUT THIS STATE; TO AUTHORIZE AN ADDITIONAL INCOME TAX CREDIT FOR ANY COMPANY EXPANDING OR MAKING ADDITIONS AFTER JANUARY 1, 2013, TO ITS NATIONAL OR REGIONAL HEADQUARTERS WITHIN THE STATE OF MISSISSIPPI AND CREATING A MINIMUM OF TWENTY NEW JOBS AS A RESULT OF THE EXPANSION OR ADDITIONS; AND FOR RELATED PURPOSES.