MS HB1520

Lowers the minimum job creation requirement from 35 to 20 jobs for companies establishing or transferring national or regional headquarters to Mississippi to qualify for sales tax exemptions on construction materials and equipment for headquarters buildings

Transfers authority from the Mississippi Development Authority to the Department of Revenue for establishing criteria and procedures to determine if a company qualifies as a national or regional headquarters for tax exemptions and credits

Maintains the tiered job tax credit system based on county economic conditions: Tier Three areas (highest unemployment/lowest income) receive 10% payroll credit, Tier Two areas receive 5%, and Tier One areas receive 2.5% for net new full-time jobs

Provides additional headquarters job tax credits ranging from $500 to $2,000 per new employee depending on salary levels relative to state average wage, with the minimum job threshold reduced from 35 to 20 jobs

Effective date of July 1, 2012