MS SB2765

Creates income tax credit for individual voluntary cash contributions to Habitat for Humanity Mississippi Capital Area, limited to $400 for single filers/heads of household or $800 for married couples filing jointly

Allows business enterprises (corporations, LLCs, partnerships, sole proprietorships) to claim tax credit against income and corporate taxes for contributions to the same organization, limited to 50% of total tax liability

Unused tax credits may be carried forward for five consecutive taxable years for both individuals and businesses

Aggregate annual cap of $1,000,000 for individual credits and $5,000,000 for business credits; credits are in lieu of charitable deductions under federal tax code

Repeals effective January 1, 2026; takes effect July 1, 2022