HB 1201 creates a 25% income tax credit for developers who rehabilitate blighted, tax-forfeited properties in Mississippi, requiring costs to exceed $50,000 for owner-occupied homes or $100,000 for commercial buildings. The credit applies to eligible properties declared unsafe by local authorities and placed into use as residences or businesses within 36 months. Developers can carry forward unused credit amounts for up to 10 years if the credit exceeds their annual tax liability, or opt for a 75% rebate instead. This law directly affects developers who redevelop qualifying properties, aiming to increase property values and community safety through tax incentives.
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.
HB 29, the Mississippi Fair Housing Act, prohibits discrimination in housing and real estate transactions based on race, religion, color, national origin, sex, disability, or familial status. It bans practices like refusing to sell or rent property, discriminatory advertising, and denying financing to protected groups, while voiding discriminatory conditions on property ownership. The law includes limited exceptions for small owner-occupied rentals (e.g., duplexes with owner residency) and religious organizations operating housing for members of their faith. It also protects individuals who oppose discrimination from retaliation by landlords, brokers, or lenders.
SB 2252 directs the Mississippi Home Corporation to establish a Neighborhood Housing Rehabilitation Program (NHRP) using federal funds (like ARPA and CDBG) to assist low-income homeowners. The program prioritizes owner-occupied properties in municipalities, focusing on correcting health/safety issues, improving energy efficiency, fixing lead paint, and bringing homes up to building codes. It creates a revolving fund in the state treasury to ensure unspent funds remain available for future use, with annual reports to the legislature. The bill died in committee in February 2025 and never became law.
SB 2251, the Mississippi Fair Housing Act, prohibits discrimination in housing and real estate transactions based on race, religion, sex, disability, or familial status. It bans practices like refusing to rent/sell property, discriminatory advertising, or denying financing based on these protected characteristics, while allowing exceptions for small family rentals (e.g., owner-occupied homes with ≤2 units). The bill also prohibits retaliation against those reporting violations and establishes civil remedies for affected individuals. The legislation died in committee on February 4, 2025, and was never enacted.
