MS SB2104

Creates the "Family Empowerment Act" establishing Individual Development Accounts (IDAs) for Mississippi residents with gross household income below 200% of the federal poverty level and net worth not exceeding $10,000 (excluding primary home and one vehicle)

Provides 3-to-1 matching funds for IDA holder contributions, with maximum matching funds of $2,000 per account holder or $4,000 per household annually, administered through fiduciary organizations contracted by the Mississippi Development Authority

Permits IDA funds to be used for first-time home purchases, business capitalization, postsecondary education expenses, retirement accounts, and automobile purchases (automobile cannot be the sole purpose)

Offers a 50% state income tax credit for taxpayers who contribute matching funds to fiduciary organizations, capped at $25,000 per taxpayer and $100,000 total credits per year, with unused credits carrying forward up to 3 years

Allocates up to $1,000,000 from the Emerging Crops Fund to provide matching funds and increases the fund's bond issuance authority from $109 million to $110 million