Lawmakers decide fate of Appropriations and Revenue bills in own chamber

See some of the bills that survived and died on Wednesday’s deadline.

On February 22, the Mississippi Legislature faced the deadline for original floor actions on Appropriations and Revenue bills originating in their own chamber for this 2023 session. Below is a brief recap of what survived and what died this week at the Capitol.

What Survived

Originally, House Bill 1721 would have made an appropriation to the University of Mississippi Medical Center (UMMC) for repair, renovation and acquiring equipment at the Burn Center. However, an amendment was adopted that changed that appropriation to the Mississippi Baptist Medical Center. The bill passed the House as amended.

The Mississippi Full Expensing Tax Reform Act of 2023 (Senate Bill 3101) passed the Senate this week and would “allow the full and immediate expensing of research and development expenditures or, alternatively, the depreciation of such expenditures on a schedule; to allow the full and immediate expensing of expenditures for qualified property or qualified improvement property or, alternatively, the depreciation of such expenditures on a schedule.” The legislation would direct the Department of Revenue to develop rules for the implementation of the act. 

Senate Bill 2700 passed the Senate and would provide full homestead exemption for unremarried surviving spouses of U.S. military members killed on active duty or training.

House Bill 871 would extend the period in which certain renewable energy projects may begin construction in order to be eligible for a partial ad valorem tax. The bill passed the House and has been transmitted to the Senate.

The House passed HB 1718. If implemented, it would make an appropriation to the Department of Finance and Administration (DFA), Bureau of Building, Grounds and Real Property Management, for the purpose of completing capital projects at state-owned buildings and grounds for Fiscal Year 2024. The bill now heads to the Senate.  

HB 1715 passed the House and has been transmitted to the Senate. The bill would make an appropriation to the State Department of health for the purpose of funding the ARPA Rural Water Associations Infrastructure Grant Program for the Fiscal Year 2024.  

House Bill 1720 would make an appropriation to UMMC to assist in paying the costs associated with repair and renovation at and acquisition of equipment for the facility used for the Adolescent Psychiatric Program for the Fiscal Year 2024. 

As passed in the Senate, SB 2858 would increase by $45 million the aggregate amount of investment tax credits that may be allocated to participating investors of the Mississippi small business investment companies under the Mississippi Small Business Investment Company Act. 

What Died

Senate Bill 2015 would have defined the terms “electronic smoking device” and “tobacco product” for purposes of including electronic smoking devices in the 15% excise tax on tobacco products other than cigarettes. 

House Bill 468 would have amended Section 27-7-22.43, Mississippi Code of 1972, which provides an income tax credit, insurance premium tax credit, and ad valorem tax credit for contributions made by certain taxpayers to certain eligible charitable organizations under the Pregnancy Resource Act and “to increase the amount of credits that may be allocated by the Department of Revenue under this section.”

Senate Bill 2459 would have reduced and phased out the state income tax on the taxable income of individuals in excess of $10,000.

The Mississippi Income Tax Holiday Act of 2023 (SB 2701) would have been created and provided that “beginning with taxes owed for calendar year 2023, any taxpayer filing a Mississippi individual income tax return will receive a credit in an amount equal to 20% of the tax amount, if any, reported as “income tax due” before the application of credits.” 

House Bill 331 would have created the Helping Mississippians Afford Broadband Act. The bill would have made an appropriation from the Coronavirus State Fiscal Recovery Fund to the Mississippi Department of Information Technology Services (ITS). ITS, in conjunction with the Wireless Communication Commission, would have been required to create a program for the purpose of providing financial assistance to eligible households to purchase broadband services. 

Senate Bill 2706 would have exempted the “state sales tax sales of food and beverages, other than beer, light wine and light spirit product, in supermarkets, grocery stores, convenience stores, dollar stores, drugstores and farmers’ market.”

House Bill 505 would have authorized an income tax credit for taxpayers who provide paid maternity leave and paid paternity leave for employees. 

Senate Bill 3057, the Mississippi Affordable Housing Tax Credit Act, would have provided a tax credit against Mississippi state income tax liability for eligible investors in low-income affordable house projects approved by the Mississippi Home Corporation. 

House Bill 1688 would have made an appropriation to the City of Jackson for making improvements at the Jackson Zoo.