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MS HB473
Bill
Status
Failed
6/3/2020
Primary Sponsor
William Arnold
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AI Summary
- Authorizes an annual income tax credit of $2,500 per employee for four years for taxpayers who employ individuals convicted of nonviolent felonies
- Requires employees to work at least 10 consecutive months during the year and average at least 40 hours per week to qualify for the credit
- Limits each taxpayer to claiming the credit for no more than 10 employees per taxable year, with a statewide cap of $1,500,000 in total credits claimed annually
- Defines "nonviolent crime" according to Section 47-7-3 of Mississippi Code
- Repeals effective January 1, 2023, though employees hired before that date remain eligible for credits through the four-year period
Legislative Description
Income tax; authorize a credit for taxpayers that employ persons convicted of certain nonviolent crimes.
Last Action
Died In Committee
6/3/2020
Committee Referrals
Workforce Development2/3/2020
Full Bill Text
No bill text available