MS HB1557

Increases aggregate investment tax credits available under the Mississippi Small Business Investment Company Act by $45,000,000, bringing the total authorization to $95,000,000 (from the existing $50,000,000).

New $45,000,000 in credits becomes available from July 1, 2018, with a separate application period beginning no later than August 1, 2018.

Divides the $45,000,000 allocation into primary and secondary tax credit pools, with $3,500,000 reserved for secondary companies, matching the structure of the original $50,000,000 authorization.

Allows participating investors to claim credits from the new allocation over six taxable years (2021-2026) at rates of 16.66% per year, with the final year at 16.7%.

Permits secondary investment companies previously certified in 2012 to reapply for the new credits if partnered with the same primary company, with certain requirements waived.