HB 1702

AN ACT TO AMEND SECTION 75-76-5, MISSISSIPPI CODE OF 1972, TO DEFINE THE TERM "PROJECT" UNDER THE MISSISSIPPI GAMING CONTROL ACT; TO AMEND SECTION 75-76-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT REVENUE COLLECTED FROM CERTAIN ADDITIONAL LICENSE FEES IMPOSED AND LEVIED UNDER SECTION 75-76-183 SHALL BE DEPOSITED INTO THE CITY OF JACKSON DEVELOPMENT FUND CREATED IN THIS ACT; TO AMEND SECTION 75-76-183, MISSISSIPPI CODE OF 1972, TO IMPOSE AND LEVY ADDITIONAL FEES FOR A LICENSE TO CONDUCT GAMING AS A LICENSED GAMING ESTABLISHMENT THAT IS PART OF A PROJECT UNDER THE MISSISSIPPI GAMING CONTROL ACT; TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION SHALL ESTABLISH A PROGRAM TO PROVIDE LOANS AND GRANTS TO ASSIST WITH THE DEVELOPMENT OF BUILDINGS AND OTHER FACILITIES AND INFRASTRUCTURE FOR THE ESTABLISHMENT OF NEW BUSINESS ENTERPRISES AND EXPANSION OF EXISTING BUSINESS ENTERPRISES IN THE CITY OF JACKSON, MISSISSIPPI; TO PROVIDE AN APPLICATION PROCESS FOR ENTITIES THAT DESIRE TO PARTICIPATE IN THE PROGRAM; TO CREATE THE CITY OF JACKSON DEVELOPMENT FUND AS A SPECIAL FUND IN THE STATE TREASURY; TO PROVIDE THAT MONIES IN THE CITY OF JACKSON DEVELOPMENT FUND SHALL BE DISBURSED BY THE DEPARTMENT OF FINANCE AND ADMINISTRATION, UPON APPROPRIATION BY THE LEGISLATURE, TO PROVIDE LOANS AND GRANTS FOR THE PURPOSES DESCRIBED IN THIS ACT; TO PROVIDE THAT FOR THE FIRST FULL STATE FISCAL YEAR DURING WHICH A LICENSED GAMING ESTABLISHMENT THAT IS PART OF A PROJECT UNDER THE MISSISSIPPI GAMING CONTROL ACT IS OPERATING AND REMITTING LICENSE FEES IMPOSED AND LEVIED UNDER SECTIONS 75-76-177 AND 75-76-195, AND FOR EACH OF THE TWO IMMEDIATELY SUCCEEDING STATE FISCAL YEARS, IF THE TOTAL AMOUNT OF REVENUE DISTRIBUTED TO THE CITY OF VICKSBURG, MISSISSIPPI, OR WARREN COUNTY, MISSISSIPPI, AS THE CASE MAY BE, FOR EACH SUCH FISCAL YEAR UNDER SECTION 75-76-197 AND CHAPTER 965, LOCAL AND PRIVATE LAWS OF 1993, IS LESS THAN THE AVERAGE TOTAL AMOUNT OF SUCH REVENUE DISTRIBUTED ANNUALLY TO THE CITY OR COUNTY FOR THE FOUR STATE FISCAL YEARS IMMEDIATELY PRECEDING THE FULL STATE FISCAL YEAR DURING WHICH THE LICENSED GAMING ESTABLISHMENT BEGAN OPERATING AND REMITTING SUCH LICENSE FEES, THEN THE DEPARTMENT OF FINANCE AND ADMINISTRATION SHALL DISBURSE FUNDS TO THE CITY OF VICKSBURG OR WARREN COUNTY, AS THE CASE MAY BE, FOR THE AMOUNT OF SUCH REVENUE SHORTFALL FOR EACH SUCH FISCAL YEAR; TO PROVIDE THAT A PORTION OF THE REVENUE COLLECTED FROM CERTAIN LICENSE FEES COLLECTED FROM A LICENSED GAMING ESTABLISHMENT THAT IS PART OF A PROJECT UNDER THE MISSISSIPPI GAMING CONTROL ACT SHALL BE USED TEMPORARILY FOR CERTAIN PURPOSES; TO BRING FORWARD SECTIONS 75-76-33, 75-76-67, 75-76-77, 75-76-89 AND 75-76-203, MISSISSIPPI CODE OF 1972, WHICH ARE SECTIONS OF THE MISSISSIPPI GAMING CONTROL ACT, FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO AMEND SECTION 19-3-79, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THIS SECTION DOES NOT APPLY TO A PERSON, CORPORATION OR OTHER LEGAL ENTITY APPLYING FOR A LICENSE FOR A GAMING ESTABLISHMENT THAT IS PART OF A PROJECT UNDER THE MISSISSIPPI GAMING CONTROL ACT; TO AMEND SECTIONS 87-1-5, 97-33-1, 97-33-7, 97-33-17, 97-33-25 AND 97-33-27, MISSISSIPPI CODE OF 1972, TO AUTHORIZE LEGAL GAMING IN A LICENSED GAMING ESTABLISHMENT THAT IS PART OF A PROJECT UNDER THE MISSISSIPPI GAMING CONTROL ACT; TO BRING FORWARD SECTION 27-109-1, MISSISSIPPI CODE OF 1972, WHICH DEFINES THE TERMS "CRUISE VESSEL" AND "VESSEL" FOR CERTAIN PURPOSES, FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO BRING FORWARD SECTION 95-3-25, MISSISSIPPI CODE OF 1972, WHICH RELATES TO VARIOUS FORMS OF ILLEGAL GAMBLING, FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO AMEND SECTION 67-1-5, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "QUALIFIED RESORT AREA" UNDER THE LOCAL OPTION ALCOHOLIC BEVERAGE CONTROL LAW; TO AMEND SECTION 67-1-101, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A PROJECT AS DEFINED UNDER THE MISSISSIPPI GAMING CONTROL ACT SHALL BE A LEISURE AND RECREATION DISTRICT UNDER THE LOCAL OPTION ALCOHOLIC BEVERAGE CONTROL LAW; TO PROVIDE THAT ANY OWNER OR OPERATOR OF A LICENSED GAMING ESTABLISHMENT LICENSED BEFORE JANUARY 1, 2026, THAT MAKES CAPITAL IMPROVEMENTS TO THE LICENSED GAMING ESTABLISHMENT IN AN AGGREGATE AMOUNT OF AT LEAST $100,000,000.00 SHALL BE ALLOWED A CREDIT AGAINST LICENSE FEES IMPOSED UNDER THE MISSISSIPPI GAMING CONTROL ACT; TO PROVIDE THE TIME PERIOD WITHIN WHICH THE CAPITAL IMPROVEMENTS MUST BE MADE; TO PROVIDE FOR THE AMOUNT OF THE CREDIT; AND FOR RELATED PURPOSES.