Economic development; revise incentives relating to certain projects.

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.