Bill > HB750

This bill reenacts and extends the "Strengthening Mississippi Academic Research Through Business Act," which aims to foster partnerships between Mississippi's colleges and businesses to boost academic research and the development of state-owned intellectual property. The act establishes two main programs: the SMART Business Rebate, which offers a 25% tax rebate to investors for qualified research costs incurred through agreements with colleges or research corporations, up to a maximum of $1 million per investor and $3.5 million statewide annually; and the SMART Business Accelerate Initiative, which provides grants of up to $150,000 for qualified expenses related to validating the commercial potential of state-owned intellectual property, with a statewide annual limit of $1.5 million. The bill also clarifies definitions for terms like "investor," "qualified research," and "research agreement," and importantly, it extends the date when these provisions will automatically expire (repeal) from July 1, 2026, to July 1, 2029, ensuring the continuation of these research and development incentives.

Budget and Finance, Education

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0750.xml