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MS HB990
Bill
Status
Failed
2/25/2026
Primary Sponsor
Lee Yancey
Click for details
AI Summary
- Creates an income tax credit for voluntary cash contributions to rural hospitals (defined as licensed hospitals with 50 or fewer beds) in Mississippi, effective January 1, 2026
- Business taxpayers (corporations, LLCs, partnerships, sole proprietorships) may claim a credit up to 75% of their total tax liability, with an annual aggregate cap of $15 million for all business credits
- Individual taxpayers (single filers, heads of household, married couples) may claim a credit up to their total tax liability, with an annual aggregate cap of $5 million for all individual credits
- Unused credits may be carried forward for five consecutive years, but contributions claimed as credits cannot also be used as state tax deductions
- The Department of Revenue must certify eligible rural hospitals, maintain a public list, and process credit applications within 30 days; the program expires December 31, 2030
Legislative Description
Income tax; authorize a credit for contributions made to certain hospitals.
Last Action
Died In Committee
2/25/2026
Committee Referrals
Ways and Means1/16/2026
Full Bill Text
No bill text available