MS HB389

Reenacts and amends Mississippi Code sections 27-7-22.25 and 27-7-22.26 to update references from "State Tax Commission" to "Department of Revenue"

Allows income tax credits for taxpayers with U.S. headquarters in Mississippi that use public airport facilities for cargo export/import, provided they employ at least 5 new full-time employees and invest minimum $2,000,000 in Mississippi property

Credits cover receiving charges into airport, aircraft marshalling/handling fees, and aircraft landing fees, capped at 50% of annual tax liability with maximum cumulative credits ranging from $1,000,000 to $4,000,000 based on employee count

Extends the repeal date of the tax credit from July 1, 2012 to July 1, 2015, while maintaining eligibility for taxpayers who qualified before the new repeal date

Requires Mississippi Development Authority to report annually to the Legislature on the credit's impact on shipping, job creation, and economic growth at state airports