MS HB527

Authorizes an income tax credit for companies that transfer or relocate their national or regional headquarters to Mississippi from outside the state, covering up to 50% of actual relocation costs paid.

Requires a minimum of 20 jobs to be created by the relocation to qualify for the credit, with a maximum credit of $1,000,000 per taxable year and $3,000,000 cumulative limit per state fiscal year.

Allows unused relocation credits to be carried forward for five years from the close of the tax year in which relocation costs were paid.

Defines relocation costs as nondepreciable expenses necessary to relocate employees to the headquarters, with restrictions preventing credits for relocating the same employee more than once in a 12-month period.

Sunsets the relocation credit provision on January 1, 2018, and makes conforming changes to telecommunications enterprise and broadband deployment tax credit sections.