Loading chat...
MS SB2512
Bill
AI Summary
-
Amends Section 27-7-22.37 to allow school district boards of trustees to certify early learning collaboratives as approved providers for the prekindergarten program support contribution income tax credit.
-
Certified collaboratives must meet criteria specified in Section 37-21-51(1)(d)(i) through (iv) as determined by the local board of trustees.
-
Contributions to board-certified collaboratives become eligible for the tax credit, which allows credits up to $1,000,000 annually against state income tax for qualified prekindergarten program support contributions.
-
Annual donation caps remain at $8,000,000 (2014), $15,000,000 (2015), and $32,000,000 (2016 and thereafter), or amounts appropriated by the Legislature.
-
Effective January 1, 2020.
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
3/3/2020