MS SB2845

Allows certain census tracts located within Tier One counties to qualify for higher job tax credits if they meet unemployment and per capita income thresholds comparable to Tier Two or Tier Three areas.

Census tracts must be within one mile of a state-designated highway and have unemployment rates and per capita income equal to or lower than counties designated as Tier Two or Tier Three to qualify for the enhanced credit tier.

Increases job tax credit percentages for qualifying businesses in designated areas: 10% of payroll for Tier Three, 5% of payroll for Tier Two, and 2.5% of payroll for Tier One (applies to businesses applying for credits after January 1, 2005).

Transfers administration of county tier designations and tax credit oversight from the State Tax Commission to the Department of Revenue.

Takes effect July 1, 2013.