MS HB4032

Authorizes tax credits for voluntary cash contributions by business taxpayers (corporations, LLCs, partnerships, sole proprietorships) to eligible Mississippi hospitals against income tax, insurance premium tax, and ad valorem property tax

Eligible hospitals must be licensed Mississippi facilities with 49 or fewer inpatient beds, 24/7 emergency services, and must engage both a healthcare consulting firm for strategic planning and a CPA firm for cost reporting assistance

Credits limited to 50% of taxpayer's total liability for each tax type per year, with unused credits carried forward for five consecutive years; contributions claimed as credits cannot also be deducted

Aggregate annual credit cap set at $18 million for 2026, $24 million for 2027, and $30 million for 2028 and beyond; per-hospital caps range from $300,000 (2026) to $500,000 (2028+)

Takes effect January 1, 2026, with Department of Revenue responsible for certifying eligible hospitals and allocating credits on a first-come basis