MS SB2574

Establishes the Mississippi Education Savings Scholarship Accounts Program administered by the State Department of Education, allowing parents to withdraw eligible students from public schools and receive 90% of the base student cost allocation under the Mississippi Adequate Education Formula.

Requires participating families to provide education in reading, grammar, mathematics, social studies, and science, and restricts account use to authorized expenses including private school tuition, textbooks, tutoring, educational therapies, online learning programs, and postsecondary institution costs.

Mandates local school districts transfer pro rata amounts of ad valorem tax receipts and in-lieu payments to individual student accounts within three business days of receiving tax distributions.

Establishes two funds for program administration: one at the State Department of Education (up to 5% of base support level) and one at the State Treasurer (1% of base support level), with annual audits required to ensure compliance with authorized expenditures.

Amends compulsory school attendance law to recognize contracts for Mississippi Education Savings Scholarship Account participation as equivalent to school enrollment, and makes scholarship account payments non-taxable income and deductible from state gross income; effective July 1, 2017.