MS HB1378

Establishes a 50% tax credit on the first $50,000 of costs for solar electric systems (up to $6 per DC watt installed) and 50% credit on the first $12,500 for solar thermal systems installed on Mississippi residences or multifamily buildings.

Provides a 20% tax credit on the first $12,500 of eligible costs for energy efficiency services (insulation, weatherization, HVAC repairs, etc.) based on a Comprehensive Home Assessment, limited to one credit per residence regardless of successive owners.

Allows only one solar electric and one solar thermal credit per residential location; credit can be transferred to a financier if the property owner provides a signed declaration assigning credit rights.

Requires solar systems to remain on the original structure or another state-owned property for minimum 5 years and include revenue-grade monitoring; credits can be combined with federal tax credits but not other state tax benefits.

Excess credits over tax liability are treated as overpayments and refunded by the Department of Revenue within 180 days; act becomes effective July 1, 2014.