HB 697

This Mississippi bill creates a special state fund to support the nuclear energy industry by providing grants to companies involved in nuclear power manufacturing, research, and development. The Mississippi Development Authority will manage the fund and award grants to businesses that manufacture nuclear components, build small modular reactors, conduct fusion research, or strengthen the state's nuclear sector—evaluating applicants based on job creation, capital investment, and wage levels. Companies can use these grants to reimburse eligible expenses for property improvements, building construction, and related real estate investments, and the state will also help them access available tax credits and exemptions. The bill aims to establish Mississippi as a hub for nuclear energy development and manufacturing while creating jobs and economic growth in the state.