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MS SB2640
Bill
AI Summary
- Authorizes local school district boards of trustees to certify early learning collaboratives as approved recipients for the prekindergarten program support contribution income tax credit, in addition to existing State Department of Education approval
- School boards must verify that collaboratives meet criteria specified in Section 37-21-51(1)(d)(i) through (iv) before granting certification
- Tax credit allows individuals, corporations, and other entities to claim up to $1,000,000 for contributions to approved prekindergarten providers, lead partners, or collaboratives
- Unused tax credit portions may be carried forward for three tax years
- Annual cap on total donations accepted ranges from $8 million (2014) to $32 million (2016 and after), or the amount appropriated by the Legislature
- Effective date: January 1, 2018
Legislative Description
Income tax; school boards may certify early learning collaboratives as approved for purposes of the program support contribution credit.
Last Action
Died In Committee
1/30/2018
Committee Referrals
Education1/15/2018
Full Bill Text
No bill text available