MS HB1296 | 2021 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Passed on April 16 2021 - 100% progression
Action: 2021-04-16 - Approved by Governor
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Partisan Bill (Republican 3-0)
Status: Passed on April 16 2021 - 100% progression
Action: 2021-04-16 - Approved by Governor
Text: Latest bill text (Enrolled) [HTML]
Summary
An Act To Amend Section 27-7-22.31, Mississippi Code Of 1972, Which Authorizes An Income Tax Credit For Costs And Expenses Incurred For The Rehabilitation Of Certain Historic Structures, To Remove The Provision That Excludes Single-family Dwellings From The Definition Of The Term "eligible Property"; To Revise The Provisions Under Which A Taxpayer Eligible For A Tax Credit May Claim The Tax Credit In Phases; To Remove The Option, In Lieu Of The Ten-year Carryforward, Of A Refund Paid Over A Two-year Period In The Amount Of 75% Of The Excess Credit; To Allow The Option, In Lieu Of Claiming The Credit, Of A Rebate Of 75% Of The Amount That Would Be Eligible To Claim As A Credit; To Provide That The Rebate Shall Be Subject To Approval By The Department Of Archives And History And Shall Be Redeemed With The Department Of Revenue For An Immediate Cash Payment; To Provide That The Department Of Archives And History Shall Not Issue Certificates Evidencing The Eligible Rebate Or Credit Which Will Result In Credits Being Awarded In Excess Of $12,000,000.00 In Any One State Calendar Year For Projects With Total Qualified Rehabilitation Costs And Expenses Of $1,750,000.00 Or More; To Provide That The Department Of Archives And History Shall Not Issue Certificates Evidencing The Eligible Rebate Or Credit Which Will Result In Credits Being Awarded In Excess Of $12,000,000.00 In Any One State Calendar Year For Projects With Total Qualified Rehabilitation Costs And Expenses Of Less Than $1,750,000.00; To Provide That A Taxpayer Claiming A Credit Instead Of A Rebate Shall Claim The Credit On The Income Tax Return For The Tax Year For Which The Credit Is Certified; To Provide The Order In Which A Rebate Or Credit Shall Be Certified; And For Related Purposes.
Title
Historic property income tax credit; revise certain provisions regarding.
Sponsors
Roll Calls
2021-03-28 - Senate - Senate Conference Report Adopted (Y: 51 N: 0 NV: 1 Abs: 0) [PASS]
2021-03-28 - House - House Conference Report Adopted (Y: 114 N: 3 NV: 5 Abs: 0) [PASS]
2021-03-16 - Senate - Senate Passed As Amended (Y: 51 N: 0 NV: 1 Abs: 0) [PASS]
2021-02-03 - House - House Passed (Y: 117 N: 3 NV: 2 Abs: 0) [PASS]
2021-03-28 - House - House Conference Report Adopted (Y: 114 N: 3 NV: 5 Abs: 0) [PASS]
2021-03-16 - Senate - Senate Passed As Amended (Y: 51 N: 0 NV: 1 Abs: 0) [PASS]
2021-02-03 - House - House Passed (Y: 117 N: 3 NV: 2 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2021-04-16 | Approved by Governor | |
| 2021-03-30 | Senate | Enrolled Bill Signed |
| 2021-03-30 | House | Enrolled Bill Signed |
| 2021-03-28 | Senate | Conference Report Adopted |
| 2021-03-28 | House | Conference Report Adopted |
| 2021-03-27 | House | Conference Report Filed |
| 2021-03-27 | Senate | Conference Report Filed |
| 2021-03-24 | Senate | Conferees Named Harkins,Johnson,Chassaniol |
| 2021-03-23 | House | Conferees Named Lamar,Steverson,Massengill |
| 2021-03-19 | House | Decline to Concur/Invite Conf |
| 2021-03-17 | Senate | Returned For Concurrence |
| 2021-03-16 | Senate | Passed As Amended |
| 2021-03-16 | Senate | Amended |
| 2021-03-11 | Senate | Title Suff Do Pass As Amended |
| 2021-02-16 | Senate | Referred To Finance |
| 2021-02-04 | House | Transmitted To Senate |
| 2021-02-03 | House | Passed |
| 2021-01-27 | House | Title Suff Do Pass |
| 2021-01-18 | House | Referred To Ways and Means |
