MS SB2132

Creates a tax credit scholarship program allowing corporations to claim credits up to 75% of tax liability for contributions to scholarship organizations, and individuals to claim credits up to 75% of income tax liability for contributions or direct educational expenses for qualifying students.

Establishes eligibility for students aged 5-20 who are Mississippi residents and meet criteria including: household income at 2.5 times the reduced-price lunch threshold, sibling of scholarship recipient, foster care status, special education needs, or dependent of veteran or active military.

Limits individual scholarship values to 80% of state per-pupil funding in year one, adjusted annually for inflation thereafter, and specifies that scholarship funds may only cover education expenses such as tuition, fees, textbooks, supplies, uniforms, and tutoring (excluding athletics and transportation).

Requires nonpublic schools accepting scholarship students to comply with antidiscrimination laws, health and safety codes, conduct criminal background checks on employees, and maintain state oversight; allows schools to admit students based on their existing admissions criteria.

Mandates Department of Revenue oversight including annual legislative reporting on tax credits, scholarship organization registration and auditing, quarterly reporting on contributions and scholarships, and allows unused tax credits to be carried forward for five years.