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AI Summary
The Mississippi Human Capital Supplemental Tax Act creates a fund for workforce development, establishes a supplemental tax related to AI displacement, and forms an advisory council. The rate of the supplemental tax is specified in the bill.
Business Impact
If you operate in Mississippi, you must pay a 1% tax on workforce development by January 1, 2024, or face penalties.
What do these statuses mean? ▼
Introduced
— Filed in the legislature; not yet heard in committee
In Committee
— Assigned to and being reviewed by a legislative committee
Passed
— Approved by one or both chambers; awaiting further action
Signed / Enacted
— Signed into law by the governor; may or may not be in effect yet
Dead / Vetoed
— Vetoed, failed to pass, or session expired without action
Unknown
— Status data not yet available or awaiting classification
Affected Industries
Topics How we classify →
What This Means
The Mississippi Human Capital Supplemental Tax Act aims to fund workforce transition initiatives through a supplemental tax on AI displacement and establish an advisory council with specified members. The rate of the supplemental tax is specified in the bill.
Key Provisions
- Establishes a supplemental tax related to AI displacement of human workers. The rate of the supplemental tax is specified in the bill.
- Creates the Mississippi Workforce Transition and Development Fund for job retraining, education programs, support for displaced workers, and innovation in workforce solutions.
- Creates the AI Workforce Impact Advisory Council composed of representatives from business, labor, education, and government, as specified in the bill.
Latest Legislative Action
Died In Committee
Bill Sponsors (showing 5 of 15)
| Name | Role |
|---|---|
| Deweese | Primary |
| Porter | Primary |
| Powell | Primary |
| Sanders | Primary |
| Summers | Primary |
Compliance Checklist
File an annual Human Capital Impact Statement
Who: Covered employers
Deadline: By April 15 following the close of the tax year
Penalty: Potential audit by the Department of Revenue
Who: Covered employers
Deadline: By April 15 following the close of the tax year
Penalty: Potential audit by the Department of Revenue
Pay the Human Capital Supplemental Tax based on displaced positions
Who: Covered employers
Deadline: Annually, based on tax year
Penalty: Possible financial penalties for non-payment
Who: Covered employers
Deadline: Annually, based on tax year
Penalty: Possible financial penalties for non-payment
Full Legal Analysis
The Mississippi Human Capital Supplemental Tax Act establishes a supplemental tax related to AI displacement of human workers. The act creates the Mississippi Workforce Transition and Development Fund, which may be used for job retraining, education programs, and other workforce development initiatives, including support for displaced workers and innovation in workforce solutions. Additionally, the AI Workforce Impact Advisory Council is created, composed of representatives from the business community, labor organizations, educational institutions, and government agencies, as specified in the bill. The rate of the supplemental tax is detailed in the full bill text.
Official Source
Official Bill Text
View HB1810 on official legislature website →
Related Topics
Affected Industries
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