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MS HB591

Bill

Official Source

Status

Failed

2/25/2026

Primary Sponsor

Zakiya Summers

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Creates a Mississippi state income tax credit of $200 per child for taxpayers who claim the federal child tax credit under 26 USCS Section 24
  • Caps the maximum credit at $1,000 per taxpayer regardless of the number of qualifying children
  • Credit cannot exceed the taxpayer's total state income tax liability for the year
  • Unused credit amounts may be carried forward for five consecutive years
  • Requires taxpayers to submit a copy of their federal tax return and other documentation to the Department of Revenue to claim the credit
  • Takes effect January 1, 2026

Legislative Description

Income tax; provide a credit for taxpayers who claim a federal income child tax credit.

Last Action

Died In Committee

2/25/2026

Committee Referrals

Ways and Means1/13/2026

Full Bill Text

No bill text available