MS HB348

Provides state licensed contractors an income tax credit for constructing single-family homes certified by the National Green Building Certification Program, effective for taxable years beginning January 1, 2015.

Credit amounts are $500 for bronze certification, $1,000 for silver certification, and $1,500 for gold certification, claimed in the year the certificate of occupancy is issued.

Applies to newly built single-family homes (no more than 3 floors) constructed according to NAHB Model Green Home Building Guidelines (2005) or the National Green Building Standard (ICC 700-2008).

Requires taxpayers to submit a copy of the National Green Building Certificate and other documentation required by the Department of Revenue with their income tax return.

Annual credits are capped at a maximum of $5,000 in any specific year; effective date is July 1, 2014.