MS SB2853

Extends the repeal date of income tax credits for taxpayers using state, county, and municipal port facilities for cargo exports from December 31, 2025 to December 31, 2029.

Extends the repeal date of income tax credits for taxpayers using public airport facilities for import/export cargo charges from July 1, 2025 to July 1, 2029.

Port facility credit allows taxpayers to claim charges for receiving cargo into port, handling to vessel, and wharfage, capped at 50% of annual tax liability and $1.2 million cumulative per taxpayer.

Airport facility credit requires taxpayers to locate U.S. headquarters in Mississippi, employ at least 5 new full-time employees, and invest minimum $2 million in state property; credit capped at 50% of annual tax liability with cumulative limits ranging from $1 million to $4 million based on employee count.

Requires Mississippi Development Authority to file annual reports to the Legislature by May 1 each year detailing shipping increases, job creation/retention, and net economic impact of both tax credits.