Mississippi Workforce Housing Tax Credit Act; enact.

SB 2253, the Mississippi Workforce Housing Tax Credit Act, would create a state tax credit against Mississippi income, franchise, or insurance premium tax for investors in workforce housing projects meeting federal housing credit standards (Section 42 of the IRS Code). The credit would be administered by the Mississippi Home Corporation, capped at $4 million annually, and could not exceed federal housing tax credits for a project. Unused credits could be carried forward for five years, and projects must be completed after July 1, 2025. The bill died in committee on February 26, 2025, and was never enacted.