MS HB1901

Increases the maximum annual tax credits that the Mississippi Development Authority may allocate from $15,000,000 to $16,000,000 per state fiscal year for qualified equity investments in low-income communities.

Extends the deadline for the Mississippi Development Authority to allocate new credits under this program from July 1, 2024 to July 1, 2029.

Maintains the existing structure allowing taxpayers holding qualified equity investments to claim income tax credits and insurance premium tax credits of up to 8% of their adjusted purchase price over multiple years.

Requires qualified community development entities to annually report investment details including industry classification, county location, dollars invested, and jobs created to the Mississippi Development Authority.

Takes effect January 1, 2025.