Mississippi legislation · 2026 Regular Session
Mississippi HB4032: Tax credits; authorize for contributions by certain taxpayers to certain hospitals.
Status: Failed, March 28, 2026
AN ACT TO AUTHORIZE AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS BY CERTAIN TAXPAYERS TO CERTAIN ELIGIBLE HOSPITALS; TO PROVIDE THE CRITERIA THAT A HOSPITAL MUST MEET IN ORDER FOR A CONTRIBUTION TO THE HOSPITAL TO QUALIFY FOR THE TAX CREDIT AUTHORIZED BY THIS ACT; TO LIMIT THE AMOUNT OF THE CREDIT; TO PROVIDE THAT UNUSED PORTIONS OF A CREDIT MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDIT WAS EARNED; AND FOR RELATED PURPOSES.
What the bill says
An act to authorize an income tax credit, insurance premium tax credit and ad valorem tax credit for voluntary cash contributions by certain taxpayers to certain eligible hospitals; to provide the criteria that a hospital must meet in order for a contribution to the hospital to qualify for the tax credit authorized by this act; to limit the amount of the credit; to provide that unused portions of a credit may be carried forward for five consecutive years from the close of the tax year in which the credit was earned; and for related purposes.
From the introduced text:
AN ACT TO AUTHORIZE AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS BY CERTAIN TAXPAYERS TO CERTAIN ELIGIBLE HOSPITALS; TO PROVIDE THE CRITERIA THAT A HOSPITAL MUST MEET IN ORDER FOR A CONTRIBUTION TO THE HOSPITAL TO QUALIFY FOR THE TAX CREDIT AUTHORIZED BY THIS ACT; TO LIMIT THE AMOUNT OF THE CREDIT; TO PROVIDE THAT UNUSED PORTIONS OF A CREDIT MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDIT WAS EARNED; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. (1) For the purposes of this section, the following words and phrases shall have the meanings ascribed in this subsection unless the context clearly indicates otherwise: (a) "Department" means the Department of Revenue. (b) "Eligible hospital" means licensed Mississippi hospitals that provide short term acute care services, Critical Access Hospitals and other hospitals that have forty-nine (49) or fewer licensed inpatient beds and have an Emergency Department that provides emergency services twenty-four (24) hours a day for each day of a week. The term "eligible hospital" does not include *HR26/R2571* H. B. No. 4032 ~ OFFICIAL ~ R3/5 26/HR26/R2571 PAGE 1 (BS\KW) hospitals that are owned by the State of Mississippi or …