Income tax and insurance premium tax; authorize a credit for certain investments in qualified community development entities.

This bill creates a tax credit for Mississippi taxpayers who invest money in qualified community development entities that support local businesses in low-income areas. The credit is calculated as a percentage of the investment amount, with a total annual limit of $48 million managed by the Mississippi Development Authority. To receive the credit, the invested funds must be used to finance businesses that operate primarily within the state, and the bill includes rules to reclaim the credit if certain conditions are not met. Additionally, the legislation allows public entities to set up special corporations to facilitate these investments and transfer public property for development projects.