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MississippiHB 7502026 Regular SessionHouseWALLET

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

Sponsored By: Fred Shanks (Republican)

Signed by Governor

Universities and CollegesFinance

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

25% rebate for research with Mississippi colleges

Beginning July 1, 2026, investors who fund research with a Mississippi college or research corporation get 25% back. The rebate is up to $1,000,000 per investor each year, with a $3,500,000 statewide cap. Only research done in Mississippi and not paid for by someone else qualifies, and medical cannabis businesses are not eligible. You must get a certificate from IHL and file with the Department of Revenue with proof of payment. Rebates are paid from current income tax collections in the order certificates are issued, through July 1, 2029.

Grants up to $150K for college validation

Beginning July 1, 2026, Mississippi colleges and research corporations can get up to $150,000 for research validation. The state caps total yearly payments at $1,500,000. Covered costs include early product development services, proof-of-concept studies, and prototypes; salaries for licensees, legal fees, and payments that break state law do not qualify. Apply to IHL with a description, budget, and a certified statement that validation is needed; IHL decides within 60 days and notifies the Department of Revenue. Payments come from current income tax collections. The initiative ends July 1, 2029.

SMART Business programs run through 2029

The law keeps the SMART Business rebate and validation programs in place through July 1, 2029. Beginning July 1, 2026, eligible investors and applicants can apply and receive payments during this window.

Sponsors & Cosponsors

Sponsor

  • Fred Shanks

    Republican • House

Cosponsors

  • Stephanie Foster

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 172 • No: 0

Senate vote • 3/4/2026

Passed

Yes: 51 • No: 0

House vote • 2/5/2026

Passed

Yes: 121 • No: 0

Actions Timeline

  1. Approved by Governor

    3/13/2026legislature

  2. Enrolled Bill Signed

    3/9/2026Senate

  3. Enrolled Bill Signed

    3/6/2026House

  4. Returned For Enrolling

    3/5/2026Senate

  5. Passed

    3/4/2026Senate

  6. Title Suff Do Pass

    3/3/2026Senate

  7. Referred To Finance

    2/13/2026Senate

  8. Transmitted To Senate

    2/6/2026House

  9. Passed

    2/5/2026House

  10. Title Suff Do Pass

    1/28/2026House

  11. Referred To Universities and Colleges

    1/16/2026House

Bill Text

Related Bills

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