MS SB2485

Allows licensed public schoolteachers in Mississippi to claim a state income tax credit up to $500 annually for out-of-pocket classroom supply, instructional material, and equipment expenditures.

Teachers must be employed by the school district where supplies were purchased, licensed by the State Board of Education, and assigned to an instructional area of work to qualify.

Expenditures must be approved under the local school's spending plan, support school goals, and receive principal approval; ineligible if local or state funds are available for the same expenditure.

Credit is effective for taxable years beginning January 1, 2009.

Act takes effect January 1, 2010.