MS HB1257

Reduces timeframe for qualified community development entities to issue qualified equity investments from 120 days to 60 days following Mississippi Development Authority allocation.

Authorizes public entities to create nonprofit public benefit corporations for entering into New Markets Tax Credit transactions involving acquisition, renovation, construction, or improvement of public property and facilities with financing terms up to 50 years.

Permits public entities and public benefit corporations to enter into financing arrangements with governmental, nonprofit, or for-profit entities to leverage funds for property development, with funds dedicated to construction, renovation, operation, or costs related to the New Markets Tax Credit transaction.

Exempts transfers of public property or facilities between public entities and public benefit corporations related to New Markets Tax Credit transactions from public bidding requirements under Section 31-7-13.

Extends qualified low-income community investments eligibility to include federal Indian reservations located within Mississippi's geographical boundaries.