Mississippi Governor Signs Bill Extending State NMTC Incentive for Three Years

Tuesday, March 23, 2021 - 9:45am

Mississippi Gov. Tate Reeves signed legislation extending the state’s new markets tax credit (NMTC) incentive by three years. H.B. 499 sets a sunset date of July 1, 2024, but makes no other changes to the state NMTC incentive, which has an annual cap of $15 million and a transaction cap of $10 million. The incentive was previously set to expire July 1, 2021.

The Novogradac Introduction to New Markets Tax Credits provides a look at how the NMTC incentive works at both the federal and state level.