MS HB1595

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

Allows taxpayers to elect a 75% rebate on the total amount of the credit in lieu of the ten-year carryforward, instead of only on amounts exceeding $250,000.

Authorizes the sale or transfer of excess tax credits (limited to one transfer per credit) with required notification to the Department of Archives and History and Department of Revenue within 30 days.

Increases the maximum aggregate amount of tax credits that may be awarded from $120,000,000 to $180,000,000 and removes the $12,000,000 annual cap per fiscal year.

Extends the deadline for issuing certificates evidencing eligible credits from December 31, 2020 to December 31, 2030, and grants priority to taxpayers who received certificates before July 1, 2020.