Mississippi legislation · 2026 Regular Session
Mississippi HB717: Income tax; extend repealer on credit for certain railroad expenditures.
Status: Failed, March 11, 2026
AN ACT TO AMEND SECTION 27-7-22.42, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES AN INCOME TAX CREDIT FOR QUALIFIED RAILROAD RECONSTRUCTION OR REPLACEMENT EXPENDITURES AND QUALIFIED NEW RAIL INFRASTRUCTURE EXPENDITURES, TO EXTEND THE DATE OF THE REPEALER ON THAT SECTION; AND FOR RELATED PURPOSES.
What the bill says
An act to amend section 27-7-22.42, mississippi code of 1972, which authorizes an income tax credit for qualified railroad reconstruction or replacement expenditures and qualified new rail infrastructure expenditures, to extend the date of the repealer on that section; and for related purposes.
From the engrossed text:
AN ACT TO AMEND SECTION 27-7-22.42, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES AN INCOME TAX CREDIT FOR QUALIFIED RAILROAD RECONSTRUCTION OR REPLACEMENT EXPENDITURES AND QUALIFIED NEW RAIL INFRASTRUCTURE EXPENDITURES, TO EXTEND THE DATE OF THE REPEALER ON THAT SECTION; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 27-7-22.42, Mississippi Code of 1972, is amended as follows: 27-7-22.42. (1) The following words and phrases shall have the meanings as defined in this section unless the context clearly indicates otherwise: (a) "Eligible taxpayer" means any railroad that is classified by the United States Surface Transportation Board as a Class II or Class III railroad. (b) "Eligible transferee" means any taxpayer having a liability for taxes under this chapter. (c) "Qualified railroad reconstruction or replacement expenditures" means gross expenditures for maintenance, reconstruction or replacement of railroad infrastructure, *HR43/R748* H. B. No. 717 ~ OFFICIAL ~ G3/5 26/HR43/R748 PAGE 1 (BS\KP) including track, roadbed, bridges, industrial leads and sidings, and track-related structures owned or leased by a Class II or Class III railroad in Mississippi as of January 1, 2022. (d) "Qualified new rail infrastructure expenditures" means gross expenditures for new construction of industrial leads, switches, spurs and sidings and extensions of existing sidings, for serving new customer locations or expansions in Mississippi, by …
Sponsors
- Steverson, Jody (R, 4) · primary sponsor
Latest actions
- : Died On Calendar
- : Title Suff Do Pass As Amended
- : Referred To Finance
- : Transmitted To Senate
- : Passed
- : Title Suff Do Pass
- : Referred To Ways and Means
Votes
- Passed (February 4, 2026): 121 yea, 0 nay, passed
Subjects: Income tax
Common questions
- What is HB717?
- HB717 is a bill in the Mississippi Legislature (2026 Regular Session): Income tax; extend repealer on credit for certain railroad expenditures.
- What does HB717 do?
- In its own words: An act to amend section 27-7-22.42, mississippi code of 1972, which authorizes an income tax credit for qualified railroad reconstruction or replacement expenditures and qualified new rail infrastructure expenditures, to extend the date of the repealer on that section; and for related purposes.
- What is the status of HB717?
- Failed as of March 11, 2026. Latest action: Died On Calendar (March 11, 2026).
- Who sponsored HB717?
- Steverson, Jody (R, 4).
- Where is the official record for HB717?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0717.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.