MS SB2148

Expands the existing prekindergarten program support tax credit to include qualified contributions to preschool programs serving children at least three years of age.

Allows individual, corporation, or other entity taxpayers to claim a credit against state income tax for contributions to approved preschool or prekindergarten providers, with a maximum annual credit of $1,000,000.

Contributions must support local match requirements for state-appropriated funds and providers must be approved by the State Department of Education.

Establishes annual caps on total donations accepted: $8,000,000 in 2014, $15,000,000 in 2015, and $32,000,000 in 2016 and thereafter.

Takes effect July 1, 2025, and applies the expanded credit to public school preschool and prekindergarten programs for children ages three and older beginning in calendar year 2025.