Income tax; extend repealer on credit for certain railroad expenditures.

HB 1762 extends the expiration date of a Mississippi income tax credit program for railroads. The bill directly affects Class II and Class III railroads operating in Mississippi that make eligible infrastructure investments, such as track repairs or new rail lines. It allows these railroads to claim tax credits equal to up to 50% of qualified reconstruction or new infrastructure costs (capped at $5,000 per mile or $1 million per new customer project), with unused credits transferable to other taxpayers or carryable for five years. The extension delays the program’s automatic sunset date beyond its current 2030 deadline, maintaining the credit structure without altering the credit amounts or eligibility rules.