MS SB2477

Creates the "2023 Mississippi Tax Rebate Fund" in the State Treasury with up to $250,000,000 available for distribution by the Department of Revenue, less administrative costs.

Provides one-time, nontaxable income tax rebate checks to taxpayers who filed both a 2022 and 2021 Mississippi income tax return.

Rebate amount equals the greater of 7.5% of 2021 income tax due or $50 per taxpayer plus $50 per dependent, capped at $1,000 per taxpayer.

Funds are continuously appropriated for rebate distribution purposes.

Effective date is July 1, 2023.