HB 1673 Summary

• Amends Section 27-7-15 of the Mississippi Code to clarify that National Guard compensation exclusions include payments received under Title 32 USCS and/or Title 10 USCS as well as compensation for state active duty.

• Maintains the existing income exclusion limits: $5,000 per taxable year through 2005, and $15,000 per taxable year thereafter for National Guard or Reserve Forces compensation.

• Expands the definition of what constitutes "National Guard compensation" to explicitly include federal and state active duty payments previously referenced in statute.

• Effective date is January 1, 2019.