MS HB1660

Provides an income tax credit of 20 cents per gallon for biodiesel produced at Mississippi facilities operating at least 25% of nameplate capacity, for 60 months between January 1, 2012 and December 31, 2019, with facilities required to be completed after July 1, 2012.

Allows an additional 20 cents per gallon credit for biodiesel produced in excess of original nameplate capacity from facility expansions completed between July 1, 2012 and December 31, 2015.

Starting January 1, 2020, provides a 7.5 cents per gallon credit for new production at biodiesel facilities for up to 36 consecutive months, with new production defined as output from new facilities or expansions adding at least 2 million gallons of capacity.

Caps eligible production at 25 million gallons annually for pre-2020 credits, 10 million gallons annually for post-2020 credits, and 125 million total gallons for the 60-month pre-2020 period.

Allows unused credits to be carried forward as offsets against state income tax liability for up to five years, and requires biodiesel esterification to occur entirely within Mississippi.