MS SB2512

Authorizes an income tax credit for taxpayer contributions to qualified nonprofit organizations supporting the Mississippi Integrated Basic Education and Skills Training (MI-BEST) model program for the community and junior college system.

Limits individual tax credits to a maximum of $1,000,000 per taxable year, with unused portions carried forward for up to three succeeding tax years.

Caps aggregate credits awarded statewide at $10,000,000 for 2017, $12,000,000 for 2018, and $15,000,000 for 2019 and each year thereafter.

Requires contributions to be made to nonprofit organizations approved by the Mississippi Community College Board to match state-appropriated funds.

Effective July 1, 2017.