House Bill 1594

AN ACT TO CREATE THE MISSISSIPPI SMALL BUSINESS INVESTMENT AND JOBS PROMOTION ACT OF 2010; TO PROVIDE FOR AN INCOME TAX, INSURANCE PREMIUM TAX AND INSURANCE PREMIUM RETALIATORY TAX CREDIT FOR TAXPAYERS THAT MAKE QUALIFIED INVESTMENTS IN QUALIFIED SMALL BUSINESS CAPITAL COMPANIES FOR THE PURPOSE OF INVESTING IN MISSISSIPPI SMALL BUSINESS VENTURES; TO DEFINE THE TERMS "QUALIFIED INVESTMENT," "QUALIFIED SMALL BUSINESS CAPITAL COMPANY," "MISSISSIPPI SMALL BUSINESS VENTURE" AND OTHER TERMS FOR THE PURPOSES OF SUCH TAX CREDITS; TO PROVIDE FOR THE AMOUNT OF THE CREDITS AUTHORIZED BY THIS ACT; TO PROVIDE THAT THE MAXIMUM AGGREGATE AMOUNT OF THE TAX CREDITS THAT MAY BE ALLOCATED TO ALL TAXPAYERS IN ANY ONE STATE FISCAL YEAR SHALL NOT EXCEED $15,000,000.00 AND THAT THE CREDITS SHALL BE ALLOCATED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO PROVIDE FOR THE RECAPTURE OF A TAX CREDIT UNDER CERTAIN CIRCUMSTANCES; TO AMEND SECTION 27-15-123, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; TO AMEND SECTION 27-15-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE INVESTMENTS THAT MAY REDUCE A TAXPAYER'S INSURANCE PREMIUM TAX LIABILITY UNDER SUCH SECTION SHALL NOT INCLUDE ANY INVESTMENT FOR WHICH A CREDIT IS ALLOCATED UNDER THIS ACT; AND FOR RELATED PURPOSES.

In the House of Representatives

• Andy Gipson

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 2 – Feb 24

1. Feb 2Referred to the House committee on Ways and Means
2. Feb 24Died in committee in the House