MS SB2684

Amends the Children's Promise Act to expand the definition of "eligible charitable organization" to include organizations certified as educational services providers that are accredited by a regional accrediting organization or the Mississippi Department of Education.

Eligible educational services organizations must serve children in foster care placements, children under the Safe Families for Children model, children at risk of foster care, children with chronic illness or disabilities, or children eligible for free/reduced meal programs or Promise Neighborhoods Program.

Maintains existing tax credit provisions allowing businesses to claim credits up to 50% of tax liability against state income tax and ad valorem property taxes for contributions to eligible charitable organizations.

Increases aggregate annual tax credit caps: $10 million for 2021, $16 million for 2022, and $18 million for 2023 and thereafter, with 50% of credits allocated to each category of eligible organizations.

Effective July 1, 2023.