MS HB499

Extends the deadline for the Mississippi Development Authority to allocate income tax and insurance premium tax credits for qualified equity investments from July 1, 2021 to January 1, 2024

Tax credits apply to investments in qualified community development entities that make low-income community investments in Mississippi, with a maximum of $15 million in credits allocable per state fiscal year

Credit amounts equal 8% of the adjusted purchase price for each of the first three credit allowance dates for investments made after July 1, 2008

Limits qualified low-income community investments to a maximum of $10 million per single qualified active low-income community business, including affiliates

Effective date of July 1, 2021