MS HB1575

Establishes a job tax credit for supermarkets located in economically distressed communities equal to 10% of the supermarket's payroll, limited to 50% of the taxpayer's state income tax liability per year.

Caps aggregate job tax credits awarded statewide at $4,000,000 per calendar year.

Defines "economically distressed community" as areas within municipalities where at least 30% of residents have incomes below the national poverty level, subject to certification by the Department of Revenue.

Exempts from sales tax materials used in constructing supermarkets in certified economically distressed communities, as well as machinery and equipment purchased within three months after construction completion.

Effective July 1, 2016.