Bill > HB1762

This bill extends the sunset date for a Mississippi income tax credit designed to incentivize railroad companies to invest in their infrastructure. Specifically, it amends Section 27-7-22.42 of the Mississippi Code of 1972 to push back the date when this tax credit provision will automatically expire from January 1, 2027, to January 1, 2030. The credit allows eligible taxpayers, defined as Class II or Class III railroads operating in Mississippi, to claim a tax credit for qualified railroad reconstruction or replacement expenditures, which includes costs for maintaining, rebuilding, or replacing track, roadbed, bridges, and related structures. It also covers qualified new rail infrastructure expenditures, such as building new industrial leads, switches, spurs, and sidings to serve new or expanding customer locations. The credit has various limitations, including a percentage of expenditures, a cap per project, an overall annual limit for all claiming taxpayers, and the ability for unused credits to be carried forward for five years or transferred to another taxpayer.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1762.xml