MS HB1436

Extends the deadline for taxpayers to become eligible for Mississippi's historic property rehabilitation income tax credit from December 31, 2014 to December 31, 2029.

Allows taxpayers to claim a 25% income tax credit for rehabilitation costs of certified historic structures or structures in certified historic districts, provided rehabilitation costs exceed $5,000 for owner-occupied dwellings or 50% of property basis for other properties.

Permits taxpayers whose credit exceeds $250,000 to elect a refund of 75% of the excess credit paid in equal installments over two years, rather than carrying forward the credit for up to 10 years.

Caps the aggregate amount of tax credits awarded under this section at $60,000,000.

Requires taxpayers to obtain a certificate from the Mississippi Department of Archives and History evidencing eligible credit before claiming the tax credit on income tax returns.