SB3168: Data center enterprises; revise certain definitions and other provisions relating to tax exemptions.

Legislative Summary

An Act To Amend Section 57-113-21, Mississippi Code Of 1972, To Revise The Definitions Of Certain Terms For Purposes Of The Sales, Use And Franchise Tax Exemptions For Data Center Enterprises; To Amend Section 57-113-23, Mississippi Code Of 1972, To Revise The Required Contents Of The Application To Be Submitted By Business Enterprises Seeking The Exemptions; To Provide That A Business Enterprise Shall Automatically Be Eligible For Up To Two Ten-year Extensions Of The Tax Exemptions For A Qualifying Addition Or Expansion, Including Hardware Replacement, To A Data Center; To Amend Section 57-113-25, Mississippi Code Of 1972, To Provide That A Business Enterprise Has 60 Days From The Date Of Notice Of Noncompliance To Remedy The Noncompliance Before Forfeiting Its Tax-exempt Status, Subject To Any Penalties Provided In Mississippi Development Authority Rules And Regulations; To Provide That A Business Enterprise Seeking An Extension Of The Tax Exemptions Based On A Qualifying Addition Or Expansion To A Data Center Shall Apply Directly To The Department Of Revenue; And For Related Purposes.