House Bill 1495

AN ACT TO PROVIDE AN INCOME TAX CREDIT TO STATE LICENSED CONTRACTORS FOR THE CONSTRUCTION OF SINGLE-FAMILY HOMES THAT HAVE BEEN CONSTRUCTED IN ACCORDANCE WITH AND CERTIFIED BY THE NATIONAL GREEN BUILDING CERTIFICATION PROGRAM AND HAVE RECEIVED A NATIONAL GREEN BUILDING CERTIFICATE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) As used in this act, the following words and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:

(a) "National Association of Home Builders (NAHB)" and "Home Builders Association of Mississippi" means a nonprofit professional trade association dedicated to the promotion, protection and preservation of the home building industry;

(b) "National Green Building Certification Program" means a voluntary, energy efficient residential home building program, developed by the National Association of Home Builders Research Center and the Home Builders Association of Mississippi, that provides guidance, assistance, inspections, diagnostic testing and certification to builders and homeowners in the construction of healthy, comfortable, energy efficient and environmentally friendly homes;

(c) "National Green Building Certificate" means a certificate issued under a certification program based on the NAHB Model Green Home Building Guidelines published in 2005 or the National Green Building Standard (ICC 700-2008), which includes provisions that define green attributes for subdivisions, multifamily dwellings, remodeling projects, additions and single-family homes;

(d) "Owner" means a state licensed contractor who has constructed a new single-family home that is occupied or ready to be occupied;

(e) "Single-family home" means any building or structure that is not more than three (3) floors in height and is to be used by another as a residence.

(2) (a) For taxable years beginning on or after January 1, 2014, an owner of a newly built single-family home that has been constructed in accordance with and certified by the National Green Building Certification Program and has received a National Green Building Certificate shall be entitled to a credit against the income taxes imposed by this chapter in an amount equal to Five Hundred Dollars ($500.00) for a bronze certification, One Thousand Dollars ($1,000.00) for a silver certification, and One Thousand Five Hundred Dollars ($1,500.00) for a gold certification for the taxable year during which the certificate of occupancy is issued.

(b) The taxpayer shall submit with his income tax return a copy of the National Green Building Certificate and any other documentation required by the Department of Revenue. The amount of the credits allowed under this section shall not exceed Five Thousand Dollars ($5,000.00) in any specific year.

SECTION 2. Section 1 of this act shall be codified in Chapter 7, Title 27, Mississippi Code of 1972.

SECTION 3. This act shall take effect and be in force from and after July 1, 2013.