MS HB1717

Allows enterprises owning or operating biomass energy facilities a 20% annual income tax credit on investments made in initial facility establishment, with minimum private capital investment of $2,000,000.

Eligible facilities must consist of all components necessary for renewable energy production from biomass, including burners, boilers, turbines, generators, and biomass collection/processing equipment.

Defines biomass as renewable organic matter including agricultural crops, crop waste, wood, animal and municipal waste, and aquatic plants.

Tax credit commences on a date selected by the enterprise within two years of facility becoming fully operational, and unused credits may be carried forward for five consecutive years.

Annual credit usage limited to 50% of the enterprise's state income tax liability generated by the eligible facility in that year; takes effect July 1, 2010.