MS SB2077

Establishes the "Endow Mississippi Program" providing a 25% tax credit for charitable gifts of at least $1,000 made to endowed funds at qualified community foundations in Mississippi.

Limits individual taxpayer credits to $200,000 per year and caps total statewide credits at $500,000 annually, awarded on a first-come, first-served basis.

Defines qualified community foundations as 501(c)(3) entities recognized by the Mississippi Association of Grantmakers that serve defined geographic areas and actively support multiple tax-exempt organizations.

Requires joint applications from taxpayers and community foundations, with the Mississippi Association of Grantmakers managing the approval process and issuing tax credit certifications.

Phases out the program after December 31, 2023, though previously authorized credits may be carried forward for up to five additional tax years.