Bill > HB990

This bill establishes an income tax credit for businesses that make voluntary cash contributions to qualifying rural hospitals, which are defined as licensed hospitals with fifty or fewer beds. The credit allows businesses to reduce their state income tax liability by up to seventy-five percent of their contribution or their total tax liability, whichever is less, with an annual aggregate limit of $15 million for business enterprises and $5 million for individuals and married couples filing jointly, and this provision is set to expire after December 31, 2030. Any unused portion of the credit can be carried forward for five consecutive years, and contributions that qualify for this credit cannot be claimed as a deduction for state tax purposes. The Department of Revenue (the state agency responsible for collecting taxes) will oversee the process, requiring hospitals to certify their eligibility and businesses to apply for the credit, and will maintain a public list of eligible rural hospitals. This new tax credit will become effective on January 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0990.xml