Tourism project incentive program; increase minimum private investment for certain projects and extend application deadline.

HB 1241 modifies Mississippi's tourism incentive program by raising minimum investment requirements for certain projects seeking tax incentives and extending the application deadline. It increases the minimum private investment for hotels from $25 million to $50 million (with higher per-room costs), raises requirements for other projects like full-service hotels and cultural retail attractions, and extends the deadline for submitting applications to the Mississippi Development Authority. These changes directly affect tourism developers seeking incentive payments from the Tourism Project Sales Tax Incentive Fund. The bill does not alter the program's eligibility criteria for project types but sets higher financial thresholds for participation. (Note: The bill died in committee on February 4, 2025.)