Mississippi legislation · 2026 Regular Session
Mississippi HB1996: Mississippi Qualified Opportunity Zone Investment Incentive Program; establish.
Status: Failed, February 25, 2026
AN ACT TO ESTABLISH THE MISSISSIPPI QUALIFIED OPPORTUNITY ZONE INVESTMENT INCENTIVE PROGRAM; TO PROVIDE AD VALOREM TAX, INCOME TAX AND SALES TAX INCENTIVES FOR QUALIFYING BUSINESSES LOCATING OR EXPANDING OPERATIONS WITHIN FEDERALLY DESIGNATED QUALIFIED OPPORTUNITY ZONES; TO PRESCRIBE ELIGIBILITY REQUIREMENTS, BENEFITS, COMPLIANCE, AND TERMINATION PROVISIONS; TO BRING FORWARD SECTION 27-7-21, MISSISSIPPI CODE OF 1972, WHICH IS A SECTION OF THE STATE INCOME TAX LAW, FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO BRING FORWARD SECTION 27-65-101, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES CERTAIN INDUSTRIAL SALES TAX EXEMPTIONS, FOR THE PURPOSES OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES.
What the bill says
An act to establish the mississippi qualified opportunity zone investment incentive program; to provide ad valorem tax, income tax and sales tax incentives for qualifying businesses locating or expanding operations within federally designated qualified opportunity zones; to prescribe eligibility requirements, benefits, compliance, and termination provisions; to bring forward section 27-7-21, mississippi code of 1972, which is a section of the state income tax law, for the purposes of possible amendment…
From the introduced text:
AN ACT TO ESTABLISH THE MISSISSIPPI QUALIFIED OPPORTUNITY ZONE INVESTMENT INCENTIVE PROGRAM; TO PROVIDE AD VALOREM TAX, INCOME TAX AND SALES TAX INCENTIVES FOR QUALIFYING BUSINESSES LOCATING OR EXPANDING OPERATIONS WITHIN FEDERALLY DESIGNATED QUALIFIED OPPORTUNITY ZONES; TO PRESCRIBE ELIGIBILITY REQUIREMENTS, BENEFITS, COMPLIANCE, AND TERMINATION PROVISIONS; TO BRING FORWARD SECTION 27-7-21, MISSISSIPPI CODE OF 1972, WHICH IS A SECTION OF THE STATE INCOME TAX LAW, FOR THE PURPOSES OF POSSIBLE AMENDMENT; TO BRING FORWARD SECTION 27-65-101, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES CERTAIN INDUSTRIAL SALES TAX EXEMPTIONS, FOR THE PURPOSES OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. (1) The Legislature finds that qualified opportunity zones represent areas of significant economic distress and that targeted, performance-based incentives can encourage private investment, job creation, and long-term economic stability. The purpose of this section is to promote substantial capital investment and employment opportunities within qualified opportunity zones while ensuring accountability and measurable public benefit. *HR43/R2073* H. B. No. 1996 ~ OFFICIAL ~ R3/5 26/HR43/R2073 PAGE 1 (BS\KP) (2) As used in this section, the following words and phrases shall have the meanings ascribed in this subsection unless the context clearly requires otherwise: (a) "MDA" means the Mississippi Development Authority. (b) "Qualified opportunity zone" means and has the same definition as such …