SB 2862 Mississippi Senate · 2026 Regular Session

Mississippi Major Economic Impact Act; bring forward code sections regarding certain projects.

This bill reorganizes three existing Mississippi laws (sections 21-1-59, 27-31-1, and 57-75-5 of the Mississippi Code) to make them easier to locate and reference, without changing their substance. It brings forward provisions about municipal boundary changes affecting state institutions and school districts, and tax exemptions for cemeteries, government property, and religious entities. The bill does not create new policies or requirements but consolidates existing legal language. This is a procedural update for legislative clarity, not a substantive policy change.

Bill status died 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 19, 2026 Last action Feb 12, 2026

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What changed between versions

As Introduced → Current version · 6 edits

MODERATE

This bill was amended to significantly increase economic development investment thresholds and job requirements for various projects, update project definitions to reflect current economic conditions, and streamline certain provisions. The changes modernize the legislation to better attract large-scale investments while maintaining protections for state institutions and school districts during municipal boundary changes.

Scope change

The bill's scope was expanded to include higher capital investment thresholds and job creation requirements for qualifying projects, while removing many specific project types with outdated dates and requirements that no longer reflect current economic conditions.

FISCAL

Increased minimum capital investment requirements for major projects from $300 million to $750 million for certain categories, and adjusted job creation thresholds from 1,000 to 3,000 jobs for high-investment projects.

REQUIREMENT

Updated salary requirements for qualifying jobs from 125% to 135% of state average wage for certain project categories, and removed specific project types with outdated construction dates (2007-2022) that are no longer relevant.

SCOPE

Added new project categories including battery cell manufacturing for electric vehicles ($1.9 billion investment, 2,000 jobs) and data processing facilities ($10 billion investment, 1,000 jobs) to reflect modern economic development priorities.

TIMELINE

Removed numerous specific project definitions with fixed construction dates and completion deadlines (ranging from 2007 to 2029) that have expired or become obsolete.

DEFINITION

Consolidated and reorganized project definitions into fewer, more flexible categories with updated investment thresholds and job requirements to better accommodate current economic conditions.

TECHNICAL

Added committee substitute markings, page numbers, and formatting changes that reflect legislative processing but do not affect substantive policy.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 3, 2026

Upper · Passed

Title Suff Do Pass Comm Sub

upper

Jan 19, 2026

Committee

Referred To Municipalities;Finance

upper

1 primary · 0 co-sponsors