MS SB3020

Increases aggregate investment tax credits available under the Mississippi Small Business Investment Company Act by $50,000,000, creating a second allocation pool of $50,000,000 available from July 1, 2017 forward, in addition to the existing $50,000,000 pool.

Establishes application deadline of August 1, 2017 for the new $50,000,000 credit allocation and divides it into primary and secondary tax credit pools with $3,500,000 designated for secondary companies.

Allows participating investors to claim credits allocated from the new pool across taxable years 2020-2024 in equal 20% annual installments against their state premium tax liability.

Permits secondary Mississippi small business investment companies previously certified in 2012 to waive certain recertification requirements when applying for credits from the new allocation while remaining partnered with the same primary company.

Effective July 1, 2017.