Senate Bill 2304 Summary

• Creates the Mississippi Public School Relief Act to provide income tax credits for taxpayers who make voluntary cash contributions to school tuition organizations or qualified public schools.

• Allows a tax credit equal to contributions to school tuition organizations up to $500 per year, or contributions to public schools up to $200 per year, with unused credits carrying forward for five succeeding tax years.

• Defines "school tuition organization" as a 501(c)(3) charitable organization that allocates at least 90% of annual revenue to educational scholarships, tuition grants, or reimbursements for student transfers to public schools.

• Prohibits taxpayers from claiming both the tax credit and a state income tax deduction for the same contribution, and prevents designation of contributions for the direct benefit of the taxpayer's dependents.

• Amends Mississippi Code sections 37-7-301 and 37-151-93 to allow school boards to accept voluntary contributions and to permit tuition payments to be funded through school tuition organization assistance.