MS HB568

Increases the maximum aggregate amount of qualified equity investments that may be allocated by the Mississippi Development Authority in any one state fiscal year from $15,000,000 to $20,000,000.

Extends the period for issuing a corresponding qualified low-income community investment from 60 days to 120 days after the Mississippi Development Authority allocates credits to a qualified community development entity.

Revises the credit allowance date for income tax and insurance premium tax credits to be the later of either the date the qualified equity investment is initially made or the date the Mississippi Development Authority issues a certificate allocating credits based on such investment.

Extends the deadline for the Mississippi Development Authority to allocate credits under this section from January 1, 2014 to January 1, 2018.

Takes effect January 1, 2014.