MS HB1272

Establishes the Mississippi Critical Needs School District Tax Credit Program to attract and retain teachers in school districts meeting specified criteria including low graduation rates, high teacher turnover, 65% or more low-income students, and shortages in special education, mathematics, science, and foreign language.

Provides first-year teachers who commit to four years of service in a critical needs school district an income tax credit of up to $1,200 per year, with eligibility to continue the credit for an additional four years if they remain in that district.

Allows first-year teachers to receive the tax credit for a maximum of ten years total, with reduced eligibility if they leave the initial critical needs school district before completing their four-year commitment.

Provides veteran teachers (employed in a critical needs school district during the 2017-2018 school year) an income tax credit of up to $1,200 per year through their tenth year of service, with maximum eligibility reduced by years of service rendered before the 2017-2018 school year.

Creates new tax code Section 27-7-22.39 allowing taxpayers to claim a credit against income taxes of up to $1,200 per full academic and contractual year of service rendered as a teacher in a critical needs school district, effective July 1, 2018.