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MS SB2831
Bill
AI Summary
- Authorizes taxpayers to sell or transfer excess historic rehabilitation tax credits to other taxpayers with Mississippi income tax liability, limited to one transfer per credit
- Caps the historic rehabilitation tax credit at $3,000,000 per taxpayer per state fiscal year
- Requires sellers/transferors to notify the Department of Archives and History and Department of Revenue within 30 days of any credit sale or transfer, including detailed information about the transaction
- Maintains the existing 25% tax credit for rehabilitation costs of certified historic structures, with a total annual cap of $12,000,000 and aggregate cap of $180,000,000
- Effective date of July 1, 2021, applying to credits for which certificates are issued on or after that date
Legislative Description
Historic structure income tax credit; cap per taxpayer and authorize sale or transfer.
Last Action
Died In Conference
3/29/2021
Committee Referrals
Ways and Means2/24/2021
Finance1/18/2021
Full Bill Text
No bill text available