Strengthening MS Academic Research Through Business Act; extend repealer on.

HB 750 reenacts and extends Mississippi’s "Strengthening Mississippi Academic Research Through Business Act" (SMART Business Act), creating a 25% rebate program for investors funding research at Mississippi colleges and research corporations. The bill directly affects private investors and academic institutions by allowing investors to claim rebates up to $1 million annually per project, with the state limiting total annual rebates to $3.5 million. Key mechanisms include requiring research agreements between investors and colleges, mandating applications to the Board of Trustees of State Institutions of Higher Learning (IHL) for approval, and requiring proof of payment for qualified research conducted within Mississippi. The rebate covers 25% of eligible research costs but excludes expenses already funded by grants, out-of-state research, or medical cannabis-related activities.