MS HB658

Expands definition of "qualified equity investment" to include construction and financing of renewable natural gas projects at publicly owned regional landfills that have utilized federal energy tax credits, without requiring proceeds be used for low-income community investments.

Allocates an additional $4,800,000 in tax credits during fiscal year 2024-2025 to be divided equally between renewable natural gas projects, separate from the existing $15,000,000 annual credit cap.

Eliminates the 85% reinvestment requirement for qualified equity investments in renewable natural gas projects, allowing more flexibility in fund deployment.

Extends the deadline for Mississippi Development Authority to allocate new tax credits from July 1, 2024, to January 1, 2027.

Modifies "adjusted purchase price" definition to clarify that investments in renewable natural gas projects do not require substantially all proceeds be used for low-income community investments in Mississippi.