Bill > SB2545

This bill extends the repealer (expiration date) for a tax credit program that incentivizes companies relocating their national or regional headquarters to Mississippi. Specifically, the bill amends Section 57-73-21 of the Mississippi Code by changing the repeal date for the tax credit from July 1, 2025, to July 1, 2029. Under this program, companies that transfer their national or regional headquarters to Mississippi from outside the state can receive a tax credit equal to their actual relocation costs, provided they create a minimum of 20 new jobs. The credit covers nondepreciable expenses necessary to relocate headquarters employees, such as travel and moving expenses. The total amount of such credits that can be claimed in a single fiscal year is limited to $1 million, and companies cannot receive a credit for relocating the same employee more than once in a 12-month period. To qualify, companies must also certify compliance with federal equal pay and civil rights laws. By extending the program's sunset date, the bill maintains the existing tax incentive for businesses to move their headquarters to Mississippi for an additional four years.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2545.xml