Loading chat...
MS SB3099
Bill
AI Summary
- Establishes a 50% income tax credit for employers who sponsor skills training through community or junior colleges in their district or approved training programs
- Credit applies to qualified training expenses including instructor costs, instructional materials, equipment, and facility construction/maintenance, with a maximum of $2,500 per employee per year
- Credit limited to 50% of taxpayer's income tax liability annually, with 5-year carryforward capability; aggregate statewide cap of $1,000,000 per tax year
- Community/junior colleges must evaluate and certify training as job-related and must certify employers as eligible for the credit; colleges may commit to multi-year training programs not exceeding 5 years
- Mississippi Community College Board must report annually to legislature by January 30 on program participants, colleges involved, and training types offered; credit expires December 31, 2027
Legislative Description
Income tax; authorize a credit for certain employers that sponsor skills training for employees.
Last Action
Approved by Governor
4/23/2024
Committee Referrals
Workforce Development3/29/2024
Finance3/22/2024
Full Bill Text
No bill text available