MS SB2838

Increases the aggregate amount of investment tax credits allocated under the Mississippi Small Business Investment Act by $50,000,000, creating a second pool of credits available from July 1, 2015 onward, in addition to the existing $50,000,000 pool.

Establishes separate timelines for claiming credits: the original $50,000,000 pool allows claims from 2015-2019 taxable years (20% per year), while the new $50,000,000 pool allows claims from 2018-2022 taxable years (20% per year).

Divides the new $50,000,000 credit pool between primary Mississippi small business investment companies ($46,500,000) and secondary companies ($3,500,000), with secondary companies limited to $1,750,000 per application.

Requires the MDA to begin accepting applications for the new credits no later than August 1, 2015, and establishes August 1, 2016 as the date when unused secondary tax credits revert to the primary pool.

Maintains existing provisions that credits cannot exceed a participating investor's annual state premium tax liability, with excess credits carrying over for five years, and credits remain non-transferable except to affiliated insurance companies with prior MDA notification.