MS HB1578

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

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

Allows deductions for 50% of amounts paid for dependent children's enrollment in public elementary or secondary schools, up to $5,000 per child per year, covering uniforms, textbooks, instructional materials, and school supplies.

Limits aggregate deductions claimed in any taxable year to not exceed the taxpayer's total taxable income for that year.

Takes effect on January 1, 2015.