MS HB82

Allows taxpayers to deduct tuition payments for dependent children attending nonpublic elementary or secondary schools, up to $5,000 per child per year.

Defines deductible tuition to include monthly/annual charges, required fees, school uniforms, textbooks, curricula, and school supplies at nonpublic schools.

Permits a 50% deduction of home schooling expenses for dependent children, capped at $5,000 per child per year, including textbooks and curricula costs.

Permits a 50% deduction of public school enrollment-related expenses for dependent children, capped at $5,000 per child per year, including uniforms, textbooks, and school supplies.

Effective January 1, 2014, with all deductions limited so aggregate claimed deductions do not exceed the taxpayer's total taxable income.