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Finance committee advances a package: data-center tax break, kratom tax increase, movie production credit and municipal loan fund
Summary
On March 17 the Senate Finance Committee reported out several House bills: a data-center sales-tax exemption (HB1239); a companion ad valorem valuation bill for rural structures (HB1878); a movie production tax credit (HB1880); a kratom tax increase (HB1896); a regional economic alliance (HB1897); Children's Promise and other tax credits (HB1902); and a municipal revolving fund (HB733).
The Mississippi Senate Finance Committee moved a group of House bills forward on March 17 with largely voice votes after brief presentations and limited questioning.
House Bill 1239 (data centers): Sponsor described a strike-all senate amendment creating a sales-and-use tax exemption for data centers that make an initial in-state investment of at least $250,000,000 and create 35 new jobs; an additional $100,000,000 over 10 years would trigger an extension of the exemption for another 10 years. The committee passed the bill and reported it out.
House Bill 1878 (rural-structure valuations): Senator Rhodes said this companion bill implements ad valorem valuation changes for farm and agricultural structures that align with the Department of Revenue's tax-valuation manual. The committee voted to pass the bill (title sufficient, do pass).
House Bill 1880 (movie industry tax credit): A strike-all was introduced that creates a tax-credit program based on in-state production payroll and eligible sales-and-use tax expenditures; sponsors said they are still working with the House on final language. The committee adopted the motion and reported the bill.
House Bill 1896 (kratom): The committee adopted a committee substitute with a reverse repealer and noted the House language would impose a 15% tax on kratom manufacturer's list price (the product is currently taxed at the general 7% rate); the amendment was approved and the bill reported out.
House Bill 1897 (regional alliance): Sponsor described a four-county alliance (Tate, Panola, Lafayette and Yalobusha) to pursue economic-development projects and authorized local levies and bonds to support projects; members asked about studies and precedents (Golden Triangle region) and the committee passed the measure.
House Bill 1902 (tax credits including the Children's Promise Act): Senator Johnson summarized the bill's credit provisions and explained that the Children's Promise Act application and certification run through the Department of Revenue (and potentially the Department of Education). Johnson said the program was $18,000,000 annually (another senator queried $16,000,000); committee members asked about eligible recipients and oversight. The committee adopted the amendment and passed the bill as amended.
House Bill 733 (municipal revolving fund): Senator McMahon said HB 733 creates a grant-and-loan revolving fund administered by Mississippi Home Corporation to provide loans and grants to municipalities; the committee approved the bill, noting floor amendments may remove bonding language and make funding subject to appropriation.
Votes at a glance (committee action): all bills above were moved as 'title sufficient' and reported out by committee voice votes with recorded "ayes have it" outcomes in the transcript; explicit roll-call tallies were not recorded in the committee transcript.
