MS HB1702

Establishes a state income tax deduction for contributions made by taxpayers to Mississippi public school districts, with deductions equal to the amount contributed during a taxable year.

Allows taxpayers to designate their contributions for specific use by a school district, with the district required to expend designated contributions only for their specified purpose.

Limits the aggregate deduction to the taxpayer's total taxable income for the taxable year.

Adds school boards' authority to accept contributions or financial assistance with designated use restrictions under Section 37-7-301.

Takes effect January 1, 2017.