MS HB1302

Removes the exclusion of single-family dwellings from eligible property for the historic rehabilitation income tax credit.

Changes the rebate election to allow taxpayers to claim 75% of the total credit amount as a refund rather than limiting the rebate to amounts exceeding $250,000.

Increases the maximum aggregate tax credits from $120,000,000 to $180,000,000 and removes the $12,000,000 annual fiscal year limitation.

Grants priority for tax credits to taxpayers issued certificates before July 1, 2020, and extends the deadline for certificate issuance from December 31, 2020, to December 31, 2030.

Applies credits to taxpayers who received written determination from the Mississippi Department of Archives and History before December 31, 2030, that their rehabilitation meets the Secretary of the Interior's Standards for Rehabilitation.