MS SB2598

Extends the deadline for the Mississippi Development Authority to allocate income tax and insurance premium tax credits for qualified equity investments from January 1, 2020 to July 1, 2021.

Allows taxpayers holding qualified equity investments in community development entities to claim tax credits equal to a specified percentage of the investment amount against income and insurance premium taxes.

Limits the maximum aggregate qualified equity investments allocated annually to $15,000,000, with no more than one-third allocated for insurance premium tax credits.

Requires qualified community development entities to annually report investment details including industry classification, county location, dollars invested, and jobs created to the Mississippi Development Authority.

Authorizes public entities to create public benefit corporations to facilitate New Markets Tax Credit transactions for financing public property and facilities improvements.