MS HB1245

Authorizes certain census tracts located in Tier One areas within one mile of state-designated highways to qualify for higher job tax credits if their unemployment and per capita income levels match Tier Two or Tier Three areas.

Allows businesses in qualifying Tier One census tracts to receive 10% payroll credits (Tier Three level) or 5% payroll credits (Tier Two level) instead of the standard 2.5% Tier One credit.

Applies only to businesses applying for the job tax credit on or after January 1, 2005, and becomes effective July 1, 2014.

Maintains existing employment thresholds: 10 new jobs for Tier Three, 15 for Tier Two, and 20 for Tier One areas.

Preserves all other job tax credit provisions including additional credits for headquarters operations, research and development positions, and contaminated property remediation.