City of Jackson Revitalization Act; create.

HB 1879 creates the "City of Jackson Revitalization Act" to incentivize redevelopment of abandoned or deteriorated properties in Jackson, Mississippi. It establishes a refundable income tax credit for developers who renovate blighted properties into owner-occupied homes or commercial buildings, with excess credits carryable forward for up to 10 years. The bill also exempts building materials from sales tax for these projects and authorizes state bonds to fund city infrastructure improvements and demolition of blighted properties. Revenue from additional gaming license fees will finance a new City of Jackson Development Fund, which will provide loans and grants for business development and property revitalization. The law directly affects developers, the City of Jackson, and businesses seeking to expand or establish operations in the city.