HB1996

Establishes the Mississippi Qualified Opportunity Zone Investment Incentive Program to provide tax incentives for businesses in designated economic.

Mississippi HB1996 establishes the Mississippi Qualified Opportunity Zone Investment Incentive Program to provide tax incentives for businesses in designated economic distress areas. Businesses must locate or expand operations within a qualified opportunity zone, make a minimum capital investment, create jobs, and ensure a majority of new employees are local residents. Incentives include ad valorem tax exemption, income tax exemption, and sales tax exemption on capital equipment and materials.