Hosemann tells Starkville group research incentive bill still in works
Secretary of State Delbert Hosemann has pushed the past two legislative sessions a bill that would provide a 10 percent tax credit to businesses that contract with Mississippi universities for technology-based research.
The bills have died in committee either in the House or the Senate.
Speaking in Starkville last week, Hosemann made it clear that he plans to try again when the 2013 session starts in January. Hosemann said that the study groups he assembles every year to study the state’s business laws and make recommendations to improve them are still working on the issue. Hosemann said he’s gotten support for the issue from officials at IHL, Ole Miss and the University of Southern Mississippi. A Starkville Daily News story on Hosemann’s entire speech can be read here.
Federal funds to pay for the kind of technology-based research Hosemann is talking about have all but disappeared over the past five years.
Hosemann’s research incentive bill wasn’t the only tax credit legislation that died at the Capitol last session. Hosemann also introduced a bill that would have offered tax credits to businesses that move their headquarters to Mississippi. Another would have allowed employers to pass through a job-creation tax credit to employees.
Tax credit legislation overall didn’t fare well last session. There were exceptions, the inventory tax phase-out being the most notable.