House Bill 1541

AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR QUALIFIED MISSISSIPPI CYBERSECURITY COMPANIES IN WHICH CERTAIN INVESTMENTS ARE MADE; TO DEFINE CERTAIN TERMS; TO REQUIRE QUALIFIED MISSISSIPPI CYBERSECURITY COMPANIES TO APPLY TO THE MISSISSIPPI DEVELOPMENT AUTHORITY TO ESTABLISH THE COMPANY'S ELIGIBILITY FOR THE TAX CREDIT; TO PRESCRIBE THE MINIMUM REQUIREMENTS THAT MUST BE SATISFIED BY COMPANIES SEEKING THE TAX CREDIT; TO PRESCRIBE THE AMOUNT OF THE TAX CREDIT; TO PROVIDE THAT IF THE AMOUNT OF CREDIT CLAIMED BY A QUALIFIED MISSISSIPPI CYBERSECURITY COMPANY EXCEEDS THE AMOUNT OF INCOME TAX IMPOSED UPON THE COMPANY FOR THE TAXABLE YEAR, THEN THE COMPANY SHALL RECEIVE A REFUND FROM THE DEPARTMENT OF REVENUE FOR THE AMOUNT OF THE EXCESS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO ESTABLISH A PANEL OF EXPERTS IN CYBERSECURITY TECHNOLOGY FOR ASSISTANCE IN DETERMINING WHETHER A COMPANY MEETS THE CRITERIA TO BE A QUALIFIED MISSISSIPPI CYBERSECURITY COMPANY; TO REQUIRE COMPANIES TO SUBMIT A COPY OF THE FINAL TAX CREDIT CERTIFICATE ISSUED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY TO THE DEPARTMENT OF REVENUE; TO ESTABLISH THE MISSISSIPPI CYBERSECURITY INVESTMENT TAX CREDIT RESERVE FUND IN THE STATE TREASURY AND TO REQUIRE ANNUAL APPROPRIATIONS TO THE FUND FOR THE PURPOSE OF OFFSETTING THE TAX CREDIT; TO REQUIRE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO SUBMIT AN ANNUAL REPORT TO THE GOVERNOR AND THE LEGISLATURE ON THE TAX CREDIT CERTIFICATES AWARDED UNDER THIS ACT; AND FOR RELATED PURPOSES.

In the House of Representatives

• Bobby Moak

  Sponsor

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

In the House of Representatives Feb 17 – Feb 26

1. Feb 17Referred to the House committee on Ways and Means
2. Feb 26Died in committee in the House