MS HB881

Extends the repeal date of Section 27-111-1, Mississippi Code of 1972, from July 1, 2018 to July 1, 2021, maintaining the Governor's authority to issue payment credit vouchers to telecommunications enterprises providing broadband services to institutions of higher learning.

Allows telecommunications enterprises to receive payment credit vouchers in lieu of cash payments under state contracts, which can be used as credits against income and corporation franchise tax liabilities.

Caps total tax credits issued annually at $2,000,000 in the aggregate, with excess credits applicable to related members' tax liabilities.

Requires Governor authorization and telecommunications enterprise agreement for issuance of payment credit vouchers, and establishes a 90-day refund timeline for any overpayments with applicable interest.

Takes effect July 1, 2018.