MS HB1253

Authorizes an income tax credit for permanent business enterprises that expand labor forces into Mississippi from outside the state, covering up to 50% of actual relocation costs paid to move employees to Mississippi.

Limits individual company credits to a maximum of $1,000,000 per taxable year, with a statewide cap of $3,000,000 per fiscal year for all taxpayers claiming the credit.

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

Requires businesses to first meet minimum job creation requirements under existing Tier One, Two, or Three area designations to qualify for the relocation credit.

Sunsets the relocation credit provision on July 1, 2018; also makes conforming amendments to telecommunications enterprise tax credit provisions and transfers regulatory authority from State Tax Commission to Department of Revenue.