MS HB1953

Establishes income tax, insurance premium tax, and ad valorem tax credits for voluntary cash contributions by business taxpayers to eligible hospitals, with credits capped at 50% of tax liability and carryforward allowed for 5 years.

Defines "eligible hospitals" as licensed Mississippi hospitals with 49 or fewer inpatient beds and 24-hour emergency departments, excluding state and federal facilities, requiring engagement of healthcare consulting and CPA firms.

Sets aggregate annual credit limits: $18 million (2024), $24 million (2025), and $30 million (2026 and thereafter), with per-hospital maximums of $300,000 (2024), $400,000 (2025), and $500,000 (2026 and thereafter).

Brings forward numerous existing tax credit provisions for possible amendment, including credits for business enterprise job creation, manufacturing investment, historic rehabilitation, charitable contributions, and various economic development projects.

Takes effect January 1, 2024 for the hospital contribution credit authorization (Section 1) and July 1, 2024 for remaining provisions codifying existing tax credit statutes.