Senate Bill 3128 Summary

• Increases the income tax exemption for National Guard and Reserve Forces compensation from $15,000 to $25,000 per taxable year, effective for taxable years 2025 and thereafter.

• Establishes the Mississippi National Guard Tricare Premium Reimbursement Program within the State Military Department to award grants reimbursing active drilling National Guard members for Tricare Reserve Select health insurance premiums.

• Requires the Adjutant General to promulgate rules for program administration, including eligibility verification, application procedures, fund disbursement, and tracking of impacts on medical readiness and retention.

• Mandates annual legislative reporting on program effectiveness, including participant numbers, medical readiness impact, and improvement recommendations.

• Subjects program funding to annual legislative appropriation.