Mississippi Legislator Proposes New State HTC
A Mississippi legislator has introduced a bill that would reinstate a state historic tax credit (HTC) after the previous version reached its $60 million program-life cap and expired last year. Rep. Edward Blackmon introduced HB 1314, which would create a 25 percent credit with a $12 million annual statewide cap and a $120 million cap for the life of the program. Taxpayers who were eligible for the previous HTC, but didn’t receive credits because the program reached its cap, would be eligible. The program would take effect July 1 and would sunset Dec. 31, 2020.