HB 1201 Mississippi House · 2025 Regular Session

Income tax and ad valorem tax; create incentives for developers to improve tax forfeited, blighted properties in MS.

HB 1201 creates a 25% income tax credit for developers who rehabilitate blighted, tax-forfeited properties in Mississippi, requiring costs to exceed $50,000 for owner-occupied homes or $100,000 for commercial buildings. The credit applies to eligible properties declared unsafe by local authorities and placed into use as residences or businesses within 36 months. Developers can carry forward unused credit amounts for up to 10 years if the credit exceeds their annual tax liability, or opt for a 75% rebate instead. This law directly affects developers who redevelop qualifying properties, aiming to increase property values and community safety through tax incentives.

Bill status signed all 5 stages cleared

Introduction

Jan 2025

Committee Review

Mar 2025

House Passage

Jan 2025

Senate Passage

Mar 2025

Signed into Law

Apr 2025

Introduced Jan 30, 2025 Signed Apr 17, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

As Passed the lower → Current version · 5 edits

MODERATE

This bill was amended to clarify administrative responsibilities by adding the Department of Revenue as a co-administrator alongside the Secretary of State. The changes also updated several definitions to reflect this new partnership and modified how certain certifications and payments flow between agencies.

Scope change

The bill's scope expanded to include the Department of Revenue as a joint administrator of the blighted property redevelopment program, changing the primary administrative body from the Secretary of State alone to a collaborative effort between the Secretary of State and the Department of Revenue.

DEFINITION

Added definition of 'Secretary' as the Mississippi Secretary of State's Office and modified 'Department' definition to mean the Mississippi Department of Revenue in several sections.

REQUIREMENT

Changed references from 'department' to 'secretary' in multiple sections where the Secretary of State is the primary administrator, and added references to the Department of Revenue where appropriate.

FISCAL

Added requirement that the Secretary of State deposit remitted amounts into a special fund and expend monies upon legislative appropriation.

ENFORCEMENT

Updated recapture notification requirements to notify both the secretary and the department instead of just the department.

TECHNICAL

Corrected formatting inconsistencies in the text, such as spacing around dollar amounts and punctuation in definitions.

Floor votes · Senate Mar 11, 2025 · House Jan 29, 2025

How they voted

51–0

Passed

Total votes 51

Mar 11, 2025

D Democratic16

16 Yea

100% Yea

R Republican35

35 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 17, 2025

Signed into law

Approved by Governor

executive

Mar 31, 2025

Lower · Passed

Conference Report Adopted

lower

Mar 28, 2025

Upper · Passed

Conference Report Filed

upper

Mar 11, 2025

Upper · Passed

Passed As Amended

upper

Mar 11, 2025

Upper · Passed

Amended

upper

Mar 4, 2025

Upper · Passed

Title Suff Do Pass As Amended

upper

Feb 17, 2025

Committee

Referred To Finance

upper

Jan 30, 2025

Introduced

Transmitted To Senate

lower

Jan 29, 2025

Lower · Passed

Passed

lower

Jan 28, 2025

Lower · Passed

Title Suff Do Pass

lower

Jan 20, 2025

Committee

Referred To Ways and Means

lower

1 primary · 14 co-sponsors