MS HB1613

Creates the Children's Promise Act establishing an income tax credit for business enterprises making voluntary cash contributions to eligible charitable organizations serving children in foster care, child protection services, or job training/workforce development programs.

Limits tax credit to 50% of taxpayer's total tax liability with unused portions carried forward for 5 consecutive years; contributions claimed for credit cannot be deducted for state tax purposes.

Sets maximum aggregate credit allocation at $5,000,000 per calendar year with no more than 50% allocated to job training and workforce development organizations; all allocations must cease after January 1, 2025.

Requires eligible charitable organizations to be 501(c)(3) exempt entities licensed or contracted with Department of Child Protection Services and certified to not provide, pay for, or support abortion services.

Amends existing charitable contribution tax credit law to increase maximum annual aggregate credits from $1,000,000 to $3,000,000 and extends the repealer date to January 1, 2021; modifies adoption tax credit provisions extending certain $5,000 credit allowances through 2020.