MS HB989

Creates income tax credit for voluntary cash contributions to rural hospitals, capped at the lesser of the contribution amount or 75% of the taxpayer's total tax liability for the year

Establishes alternative ad valorem (property) tax credit for individual taxpayers contributing to rural hospitals, limited to 50% of property tax liability

Defines eligible rural hospitals as licensed general acute care facilities with 200 or fewer beds located in federally-designated rural counties

Caps total tax credits allocated statewide at $15 million per calendar year, with unused credits carrying forward for five consecutive years

Program expires December 31, 2040, and contributions claimed as credits cannot also be used as state tax deductions