MS HB1556

Extends the repeal date from July 1, 2016 to July 1, 2019 for income tax credits available to taxpayers who use Mississippi public airport facilities for importing or exporting cargo

Taxpayers must locate their U.S. headquarters in Mississippi, employ at least 5 new permanent full-time employees (35+ hours/week), and invest a minimum of $2 million in real or personal property in the state to qualify

Credit covers airport receiving charges, aircraft marshalling/handling fees, and landing fees, but cannot exceed 50% of the taxpayer's annual tax liability with a 5-year carryforward for unused portions

Maximum cumulative credit ranges from $1 million (5-25 employees) to $4 million (over 200 employees) based on the number of permanent full-time employees at the Mississippi headquarters

Requires the Mississippi Development Authority to submit annual reports to the Legislature on the tax credit's impact on shipping, job creation, and economic growth at state airports