MS SB2928

Creates a tax credit equal to 35% of eligible expenditures made by entities to increase commercial air service at Mississippi commercial service airports, covering 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), with unused credits carried forward up to 10 years.

Limits total credits claimed by all entities to $2,500,000 per state fiscal year, though previously earned credits may be carried forward beyond this cap.

Requires entities to apply through the Mississippi Development Authority (MDA) for credit certification before claiming the credit on tax returns.

Amends Section 27-15-129 to exclude any expenditure qualifying for this air service credit from being counted as a qualifying Mississippi investment for insurance premium tax reduction purposes.