(1) Except as otherwise provided by this section, qualifying businesses which construct
or renovate an entertainment facility or facilities within an entertainment district
after July 1, 2009, may use an accelerated state income tax depreciation deduction. The accelerated depreciation deduction shall be computed by accelerating depreciation
period required by Title 35, Part III, Subpart 5, Chapter 4, Mississippi Administrative Code, to a five-year depreciation period.
(2) Gaming establishments licensed under the Mississippi Gaming Control Act shall
not be eligible for the accelerated depreciation deduction authorized under this section. Licensees under the Charitable Bingo Law shall not be eligible for the accelerated
depreciation deduction authorized under this section, and the accelerated depreciation
deduction shall not apply to any property utilized in the conduct of charitable bingo
under the Charitable Bingo Law.
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