Bill > SB2816

This bill amends Mississippi's income tax code to increase tax credits for landowners who engage in approved reforestation practices. The bill expands the existing tax credit by raising the maximum annual credit from $10,000 to $20,000 and increasing the lifetime aggregate credit from $75,000 to $125,000. The credit applies to specific reforestation activities like pine and hardwood tree planting, mixed-stand regeneration, direct seeding, and post-planting site preparation on nonindustrial private lands. Eligible owners must be private individuals, groups, or associations (not corporations), and must have a written reforestation plan prepared by a qualified forester. The credit is calculated as a percentage of the actual costs of approved practices, with some limitations, and any unused credit can be carried forward to subsequent tax years. The bill also updates terminology, replacing "State Tax Commission" with "department" in several references. The changes are set to take effect on July 1, 2025, and aim to incentivize private landowners to invest in forest restoration and management.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2816.xml