MS HB200

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

Requires cybersecurity companies to have headquarters in Mississippi, be in business no longer than 5 years, have fewer than 50 employees, own proprietary cybersecurity technology, and meet additional eligibility criteria set by the Mississippi Development Authority (MDA).

Creates the Mississippi Cybersecurity Investment Tax Credit Reserve Fund with a minimum annual appropriation of $2,000,000 to offset the tax credits issued.

Allows companies to receive refunds from the Department of Revenue if the tax credit exceeds their income tax liability in a given year.

Requires credit recapture if the qualified investor disposes of their ownership interest or the company ceases operations within 2 years, with recapture amounts ranging from 33% to 100% depending on timing.