MS HB1716

Establishes a state income tax credit of $5.50 per acre for taxpayers who allow their land to be used as a natural area preserve, wildlife refuge, habitat area, wildlife management area, or for public outdoor recreational opportunities.

Land must be approved by the Mississippi Commission on Wildlife, Fisheries and Parks as suitable for these uses and cannot be under lease to the Commission.

Tax credit cannot exceed a taxpayer's annual tax liability, with unused credits allowed to carry forward for five years from the year the land was approved.

Taxpayers must apply to the Mississippi Commissioner of Revenue for credit approval within 60 days of Commission approval, and must maintain records available for inspection to verify eligibility.

Effective January 1, 2010, and amends Sections 49-1-29, 49-5-71, and 49-5-155 of the Mississippi Code to authorize the Commission to approve lands as eligible for the income tax credit.