Bill Text: MS HB576 | 2025 | Regular Session | Introduced
Bill Title: Income tax; authorize a credit for certain taxpayers that provide transitional housing for individuals released from incarceration.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2025-01-15 - Referred To Ways and Means [HB576 Detail]
Download: Mississippi-2025-HB576-Introduced.html
MISSISSIPPI LEGISLATURE
2025 Regular Session
To: Ways and Means
By: Representative Porter
House Bill 576
AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS THAT PROVIDE TRANSITIONAL HOUSING FOR INDIVIDUALS WHO AFTER RELEASE FROM INCARCERATION FOR CONVICTION OF A MISDEMEANOR OR FELONY OFFENSE ARE UNABLE TO OBTAIN, OR ENCOUNTER DIFFICULTY IN OBTAINING, HOUSING WHILE THE PERSONS ATTEMPT TO TRANSITION FROM INCARCERATION TO SOCIETY AND ACHIEVE OR MAINTAIN INDEPENDENCE; TO PROVIDE THE AMOUNT OF THE TAX CREDIT; TO LIMIT THE AMOUNT OF THE TAX CREDIT THAT MAY BE CLAIMED IN A TAXABLE YEAR; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) Subject to the provisions of this section, a taxpayer that provides transitional housing to individuals who were incarcerated for conviction of a misdemeanor and/or felony offense and have been released from such incarceration shall be allowed a credit against the taxes imposed under this chapter. The tax credit authorized in this section shall be available only to a taxpayer who is a business enterprise engaged in commercial, industrial or professional activities and operating as a corporation, limited liability company, partnership or sole proprietorship. The credit shall be for an amount equal to One Thousand Dollars ($1,000.00) for each person so housed during a taxable year. The amount of credit that may be utilized by a taxpayer in a taxable year shall not exceed the total tax liability of the taxpayer for the taxes imposed under this chapter for the taxable year. Any tax credit claimed under this section but not used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned. For the purposes of this section, the term "transitional housing" means housing for an individual who after release from incarceration for conviction of a misdemeanor and/or felony offense has been unable to obtain, or has encountered difficulty in obtaining, housing while the individual attempts to transition from incarceration to society and achieve and/or maintain independence.
(2) The tax credit provided for in this section shall be in addition to any other credit authorized under law.
SECTION 2. Section 1 of this act shall be codified as a new section in Chapter 7, Title 27, Mississippi Code of 1972.
SECTION 3. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the income tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the income tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.
SECTION 4. This act shall take effect and be in force from and after January 1, 2025.
