MS HB1709

Authorizes a tax credit equal to 35% of eligible expenditures made to increase commercial air service at Mississippi airports, including ground handling cost mitigation, seat cost mitigation, and minimum revenue guarantees.

Credit applies against income tax (Section 27-7-5), insurance premium tax (Sections 27-15-103, 27-15-109, 27-15-123), and gaming gross revenue license fees (Section 75-76-177).

Limits annual credit utilization to an entity's total tax liability for the applicable year, with unused credits carrying forward up to 10 years.

Caps total credits claimed statewide at $2,500,000 per fiscal year, excluding carryforward credits from prior years.

Requires Mississippi Development Authority (MDA) approval of eligible expenditures and issuance of certificates before credits can be claimed; amends Section 27-15-129 to prevent double-dipping by excluding air service expenditures from qualifying Mississippi investments for premium tax reduction.