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MS SB2771
Bill
AI Summary
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Removes the expiration date on the $5,000 maximum adoption tax credit for children adopted through the Mississippi Department of Child Protection Services, making it permanent rather than reverting to $2,500.
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Extends the repeal date of Section 27-7-22.39 (charitable contribution tax credits) from January 1, 2021 to January 1, 2025.
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Increases the maximum annual aggregate tax credit for business charitable contributions under Section 27-7-22.41 from $5,000,000 to $7,500,000, with no more than 50% allocated for job training and educational services.
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Prohibits allocation of tax credits under Section 27-7-22.41 after January 1, 2025.
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Effective January 1, 2020.
Legislative Description
Children's Promise Act; remove reverter and extend repealer on tax credits, and increase certain limits on credits authorized.
Last Action
Died In Committee
6/23/2020