Mississippi Senate Bill 2977 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on February 24 2021 - 100% progression
Action: 2021-02-24 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Authorize A Tax Credit For Taxpayers Who Place A Qualified Alternative-fuel Fueling Station In Service During Calendar Year 2021 Or 2022; To Define Terms; To Allow The Credit To Be Applied Against Income Taxes, Premium And Related Retaliatory Taxes, Or Franchise Taxes; To Provide That The Credit Shall Be Equal To 75% Of The Cost Of Any Qualified Alternative-fuel Fueling Station Placed In Service During Calendar Year 2021 Or 2022; To Provide That Taxpayers Shall Submit Applications For The Credit To The Department Of Revenue; To Impose An Aggregate Cap For The Credits Of $12.5 Million Annually, For A Cumulative Cap Of $25 Million Over The Two-year Period In Which Applications For The Credit May Be Made; To Provide That The Credits Shall Be Nonrefundable And Nontransferable; To Allow Unused Credits To Be Carried Forward For Up To Five Years; To Require Any Taxpayer Claiming This Credit To Submit An Annual Report To The Department Of Environmental Quality; To Allow The Department Of Revenue To Adopt And Promulgate Rules And Regulations To Implement The Credit; And For Related Purposes.

Fueling Station Tax Credit Act; create.

Sen. Josh Harkins [R]

Sen. Dean Kirby [R]

Date	Chamber	Action
2021-02-24	Senate	Died In Committee
2021-02-23	Senate	Referred To Finance;Accountability, Efficiency, Transparency

Type	Source
Summary	https://billstatus.ls.state.ms.us/2021/pdf/history/SB/SB2977.xml
Text	https://billstatus.ls.state.ms.us/documents/2021/html/SB/2900-2999/SB2977IN.htm