MS HB212

Allows taxpayers enrolled as eligible students at Mississippi community colleges, junior colleges, or universities to claim an income tax credit for any taxable year in which they are enrolled for at least one semester.

Credit amount limited to the lesser of $500 or the taxpayer's tax liability after other credits, with unused portions carryable forward for up to three additional taxable years.

Defines "eligible student" as a taxpayer taking at least 6 semester hours toward an associate degree at a community/junior college, or holding an associate degree and taking at least 6 semester hours toward a baccalaureate degree at a college/university.

Requires eligible students to maintain a cumulative grade point average of at least 2.0 on a 4.0 scale and demonstrate steady academic progress toward their degree.

Becomes effective January 1, 2014.