Businesses that operate a project in a Mississippi county that is a member of a Regional Development Business Alliance are allowed an exemption from Mississippi corporate income, franchise, local county and possibly municipal real property taxes. Along with these exemptions, Mississippi has enacted a new exemption for sales of component materials and equipment to the enterprises that are eligible for the Regional Development Alliance County exemption. Such projects must consist of enterprises with an initial capital investment of not less than $300 million, or not less than $150 million if at least 1,000 net new full time jobs have been created. The exemptions are allowed for 10 years or until December 31, 2015, whichever comes first. (H.B. 1639, Laws 2002, effective March 20, 2002.)