MS SB2661

Allows early learning collaboratives to apply directly to local school district boards of trustees for certification as approved collaboratives for income tax credit purposes.

School boards must examine applications and certify collaboratives that meet criteria specified in Section 37-21-51(1)(d)(i) through (iv).

Contributions paid to board-certified collaboratives become eligible for the existing income tax credit (capped at $1,000,000 per taxpayer annually).

Maintains existing verification requirements requiring donors to submit receipts or other written verification to the Mississippi Department of Revenue.

Maintains existing annual donation limits: $8,000,000 for 2014, $15,000,000 for 2015, and $32,000,000 for 2016 and thereafter.