MS HB1541

Establishes a 33% income tax credit (capped at $250,000) for qualified Mississippi cybersecurity companies that receive investments of at least $25,000 from qualified investors.

Requires cybersecurity companies to be headquartered in Mississippi, have been in business no longer than 5 years, have fewer than 50 employees, and own proprietary cybersecurity technology to qualify for the credit.

Limits qualified investors to those who invest at least $25,000 and do not own more than 25% of the company's equity after their investment.

Creates the Mississippi Cybersecurity Investment Tax Credit Reserve Fund with an annual appropriation of at least $2,000,000 to fund the credits and establishes the MDA to administer the program.

Requires credit recapture if the investor sells their ownership interest or the company ceases operations within 2 years, with recapture amounts ranging from 33% to 100% depending on timing; allows refunds if the credit exceeds the company's tax liability for the year.