MS HB54

Establishes a 10% job tax credit for supermarkets located in economically distressed communities, limited to 50% of state income tax liability per year with an aggregate cap of $4,000,000 per calendar year.

Defines "supermarket" as NAICS industry 445110 establishments and "economically distressed community" as municipal areas where at least 30% of residents have incomes below the national poverty level based on the most recent decennial census.

Authorizes municipal governing authorities to designate areas as economically distressed communities subject to Department of Revenue certification.

Exempts from sales taxation materials used in supermarket construction in designated economically distressed communities, and machinery and equipment purchased within three months after construction completion.

Effective July 1, 2019.