MS HB8

Creates an income tax credit for voluntary cash contributions to rural hospitals (defined as licensed hospitals with 50 or fewer beds)

Business taxpayers (corporations, LLCs, partnerships, sole proprietorships) may claim a credit up to 75% of their total tax liability, with an annual statewide cap of $15 million for business credits

Individual taxpayers may claim a credit up to 100% of their total tax liability, with an annual statewide cap of $5 million for individual credits

Unused credits may be carried forward for 5 consecutive years; contributions claimed as credits cannot also be claimed as state tax deductions

Department of Revenue must certify eligible rural hospitals and maintain a public list; the credit program expires December 31, 2027, with an effective date of January 1, 2023