MS HB1694

Provides an income tax credit for real estate appraisers who incur financial losses from unpaid fees, commissions, or expenses owed by an appraisal management company that files for bankruptcy under federal law.

Credit amount equals unpaid compensation and unreimbursed expenses, limited to the taxpayer's total state income tax liability for that year.

Allows unused portions of the credit to be carried forward for five consecutive tax years following the year the credit is earned.

Brings forward Section 73-34-45 regarding licensing fees charged by the Mississippi Real Estate Commission, including application/examination ($225), initial/renewal licenses ($325), and appraisal management company registration fees (up to $1,000, increasing to $1,500 after July 1, 2015).

Brings forward Section 73-34-103 requiring appraisal management companies to obtain registration from the Mississippi Real Estate Appraiser Licensing and Certification Board and maintain a $20,000 surety bond.