MS HB1536

Allows taxpayers to deduct tuition payments for dependent children attending nonpublic schools, up to $5,000 per child per year, including tuition, required fees, school uniforms, textbooks, and school supplies.

Permits taxpayers to deduct 50% of expenses paid for home schooling dependent children, up to $5,000 per child per year, including textbooks and curricula for legitimate home instruction programs.

Authorizes taxpayers to deduct 50% of amounts paid for public school enrollment of dependent children, up to $5,000 per child per year, covering school uniforms, textbooks, instructional materials, and school supplies.

Requires that aggregate deductions under any of these provisions cannot exceed the taxpayer's total taxable income for the tax year.

Takes effect January 1, 2012.