SB2849

Extends the repealer date of the Strengthening Mississippi Academic Research Through (SMART) Business Act.

Mississippi SB2849 extends the repealer date of the Strengthening Mississippi Academic Research Through (SMART) Business Act from July 1, 2028, to a later date. The bill also brings forward sections of the SMART Business Act for possible amendment. The SMART Business Act includes the SMART Business Rebate and the SMART Business Accelerate Initiative. The rebate provides a 25% rebate on qualified research costs up to $1 million per fiscal year, with a state limit of $3.5 million. The Accelerate Initiative offers disbursements up to $150,000 per applicant, with a state limit of $1.5 million.