MS HB1590

Allows taxpayers an income tax credit equal to 10% of textbook costs paid for themselves or dependents enrolled as resident students in at least 6 semester hours at public or private universities, colleges, community colleges, or junior colleges in Mississippi.

Textbooks must be required or recommended for use by the course instructor to qualify for the credit.

Taxpayers may claim the credit during any five successive years in which they are eligible.

Credit cannot exceed the taxpayer's tax liability for the year minus other allowable credits, with unused portions carried forward for up to one year.

Takes effect January 1, 2010.