HB 1136 Summary

• Creates the Mississippi Educational Talent Recruitment Act to recruit college graduates to live and work in Mississippi through multiple incentive programs.

• Establishes a program administered by the Mississippi Development Authority to reimburse Mississippi businesses up to $25,000 annually (maximum $5,000 per graduate) for employment recruiting services costs to hire out-of-state college graduates who relocate to Mississippi.

• Authorizes issuance of up to $1,000,000 in state general obligation bonds by July 1, 2025 to fund the business recruiting services program.

• Provides a $500 annual income tax credit for Mississippi residents who are telework employees of out-of-state employers for broadband and communications service costs, with a corresponding $1,200 income tax deduction.

• Establishes a home grant program for college graduates purchasing homes in Mississippi, with grants up to $5,000 for down payments and housing costs, funded by up to $1,000,000 in state bonds.

• Allows Public Employees' Retirement System members to purchase up to 5 years of creditable service for prior employment at non-participating public or private employers in Mississippi by paying actuarial costs before retirement.