MS HB1231

Increases rebate for base investment used for building renovation, expansion, or improvement from 25% to 30% if the motion picture production company leaves the structure in improved condition after completing state-certified production.

Maintains 25% rebate for base investment of at least $50,000 in payroll and/or fringes, with 25% rebate for non-resident employee payroll (up to $5,000,000) and 30% rebate for resident employee payroll (up to $5,000,000).

Allows additional 5% rebate for payroll and fringes paid to honorably discharged veterans of the United States Armed Forces.

Extends the Department of Revenue's authority to approve rebate applications from July 1, 2017 to July 1, 2022.

Maintains existing caps of $10,000,000 per motion picture project and $20,000,000 per fiscal year for total rebates authorized.