MS HB1717

Establishes a state income tax credit for eligible investors in low-income affordable housing projects approved by the Mississippi Home Corporation, with credits available for tax years beginning January 1, 2024.

Limits state tax credits to not exceed corresponding federal low-income housing tax credits for qualified projects, with a statewide annual cap of $4,000,000 per allocation year.

Allows taxpayers to carry forward unused credits for up to two subsequent taxable years and prohibits credits from reducing tax liability below zero.

Requires project owners to submit an eligibility statement from the Mississippi Home Corporation with their tax return; failure to provide documentation disqualifies the credit for that year.

Mandates a five-year program review by a nine-member committee appointed equally by the Governor, Lieutenant Governor, and Speaker of the House, with the program effective July 1, 2024.