MS SB2776

Excludes up to $500 per taxable year from gross income for amounts spent by teachers from personal funds on classroom supplies, instructional materials, or equipment used by students in school classrooms.

Amends Section 27-7-15 of Mississippi Code to add the teacher classroom expense exclusion as paragraph (gg) in the list of items excluded from gross income taxation.

Amends Section 27-7-17 to clarify that teachers cannot claim an itemized deduction for the same classroom expenses that are excluded from gross income under the new provision.

Effective January 1, 2015.