MS HB354

Allow a 10% income tax credit for qualified energy efficiency improvements (insulation, windows, doors, metal roofs) installed in Mississippi homes, capped at $500 total per taxpayer.

Provide income tax credits for residential energy property expenditures including heat pumps, furnaces, water heaters, and air conditioning systems, with individual item limits ranging from $50 to $300.

Allow a 50% income tax credit on the first $25,000 paid for installation of wind or solar energy systems in homes or business/commercial property, with unused credits carried forward up to 5 years.

Exempt from ad valorem (property) taxation the added value to property resulting from installation of qualifying wind or solar energy systems.

Effective date: January 1, 2014.