As Amended
SEC. 57-89-7. Rebate of percentage of investment made by motion picture production company in connection with production of motion picture.
(1) A motion picture production company shall be entitled to a rebate of a portion of the base investment made by the motion picture production company. The amount of the rebate shall be equal to ten percent (10%) of the base investment made by the motion picture production company.
(2) A motion picture production company desiring a rebate under this section must submit an application to the State Tax Commission upon completion of the project. The application must include a detailed accounting of the base investment made by the motion picture production company and any other information required by the State Tax Commission. Rebates made by the State Tax Commission under this section shall be made from current income tax collections.
(3) The State Tax Commission shall have all powers necessary to implement and administer the provisions of this section, and the State Tax Commission shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
SOURCES: Laws, 2004, ch. 528, § 4, HB 1780, eff from and after July 1, 2004.