MS HB1627

Increases the aggregate amount of investment tax credits available under the Mississippi Small Business Investment Company Act by an additional $50,000,000, bringing the total authorized credits to $100,000,000.

Credits from the new $50,000,000 allocation may be claimed beginning January 1, 2018, with participating investors able to claim 20% of their designated capital investment annually over five taxable years (2018-2022).

Establishes application acceptance deadline of August 1, 2015 for the new credit allocation, with the secondary tax credit pool capped at $3,500,000 and individual secondary company applications limited to $1,750,000.

Maintains existing requirements for job creation projections (one job per $150,000 in credits) and job quality standards (125% of state average annual wage, maintained for at least 3 years).

Takes effect July 1, 2015.