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Senate advances tax‑credit rebate to entice rehabilitation of tax‑forfeited, blighted properties
Summary
The Mississippi Senate advanced a conference report establishing a 25% state credit rebate to encourage private rehabilitation of tax‑forfeited, blighted properties held by the state.
The Mississippi Senate advanced a conference report creating a state credit rebate aimed at encouraging private rehabilitation of tax‑forfeited and blighted properties held by the state.
Under the conference report explained on the floor, developers may claim a 25% credit on eligible rehabilitation spending; they can either apply the credit against income tax liability or take 75% of the credit as a cash rebate. For eligibility, the conference report sets minimum rehabilitation spend…
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