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MS HB717
Bill
Status
Failed
3/11/2026
Primary Sponsor
Jody Steverson
Click for details
AI Summary
- Extends the repeal date for Mississippi's income tax credit for Class II and Class III railroad infrastructure expenditures from January 1, 2027 to January 1, 2030
- Tax credit equals 50% of qualified railroad reconstruction, replacement, or new rail infrastructure expenditures, with a cap of $5,000 per mile of track owned/leased in Mississippi
- New rail infrastructure projects are capped at $1,000,000 per new rail-served customer project
- Annual aggregate cap for all taxpayers claiming this credit is $8,000,000, with unused credits carrying forward for 5 consecutive years
- Effective date is July 1, 2026
Legislative Description
Income tax; extend repealer on credit for certain railroad expenditures.
Last Action
Died On Calendar
3/11/2026
Committee Referrals
Finance2/13/2026
Ways and Means1/15/2026
Full Bill Text
No bill text available