MS HB1612

Establishes a job tax credit equal to 10% of payroll for supermarkets located in economically distressed communities (areas where at least 30% of residents live below the national poverty level).

Limits the annual job tax credit to no more than 50% of a taxpayer's state income tax liability, with an aggregate statewide cap of $4,000,000 per calendar year.

Exempts from sales tax materials used in constructing supermarkets in designated economically distressed communities, plus machinery and equipment purchased within 3 months after construction completion.

Requires municipal governing authorities to designate economically distressed areas, with certification by the Department of Revenue based on census tract poverty data.

Takes effect July 1, 2017.