MS HB1424

Creates a state income tax credit equal to 10% of costs paid for college textbooks purchased by a taxpayer or their dependent enrolled as a resident student in Mississippi

Requires enrollment of at least 6 semester hours at a public or private university, college, community college, or junior college in Mississippi, with textbooks required or recommended by the course instructor

Allows the credit to be claimed for any year within a 5-year eligibility period

Limits the credit to the taxpayer's remaining tax liability after other credits are applied, with unused portions carried forward for up to 1 year

Effective date of January 1, 2011