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MS HB654
Bill
Status
Failed
3/16/2010
Primary Sponsor
Jessica Upshaw
Click for details
AI Summary
- Provides an income tax credit for taxpayers whose principal residence is located in counties within the Coast area as defined in Section 83-34-1
- Credit amount equals costs incurred under the taxpayer's homeowners insurance deductible due to loss from a named storm, capped at the lesser of $500 or the taxpayer's income tax liability minus other allowable credits
- Unused portions of the credit may be carried forward to the next five succeeding taxable years
- Takes effect January 1, 2010, and repeals December 31, 2009
Legislative Description
Income tax; provide a credit for costs under a homeowners deductible due to loss incurred from a named storm.
Last Action
Died In Committee
3/16/2010
Full Bill Text
No bill text available