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MS HB184
Bill
Status
Failed
2/2/2010
Primary Sponsor
Joe Warren
Click for details
AI Summary
- Extends the repeal date of the income tax credit for port facility usage from July 1, 2013 to an unspecified later date.
- Allows eligible taxpayers using state, county, or municipal port facilities to claim a credit equal to charges paid for receiving cargo into the port, handling from vessels, and wharfage on imported goods.
- Restricts eligibility to taxpayers with U.S. headquarters in Mississippi (established after July 1, 2004), at least 5 permanent full-time employees, and minimum $2,000,000 capital investment in Mississippi.
- Caps cumulative credits based on employee count: $1 million (5-25 employees), $2 million (26-100 employees), $3 million (101-200 employees), or $4 million (200+ employees).
- Requires the Mississippi Development Authority to file annual reports to the Legislature detailing shipping increases, job creation, and net economic impact of the tax credit by May 1 each year.
Legislative Description
Income tax; extend repeal date on tax credit for certain charges incurred at ports for import of cargo.
Last Action
Died In Committee
2/2/2010
Full Bill Text
No bill text available