MS SB2443

Expands the Eligible Transitional Home Organization (ETHO) tax credit program to include organizations providing transitional housing to formerly incarcerated individuals, in addition to existing categories of homeless persons, families, and unwed pregnant women.

Allows business enterprises and individual taxpayers to claim tax credits of up to 50% of their tax liability for voluntary cash contributions to eligible ETHO organizations, with credits applicable to state income taxes and ad valorem property taxes.

Permits unused tax credits to be carried forward for five consecutive years, with business contributions capped at a $10 million aggregate annual limit (25% maximum per single organization) and individual contributions capped at $1 million annually.

Requires ETHO organizations to maintain 501(c)(3) tax-exempt status, provide transitional housing programs with structure and support services, not charge fees for transitional housing services, and submit written certification to the Department of Revenue.

Takes effect July 1, 2024.