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MS HB693

Bill

Official Source

Status

Failed

2/25/2026

Primary Sponsor

Lester Carpenter

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Increases the state income tax exclusion for National Guard compensation from $15,000 to $25,000 per taxable year, effective for the 2026 tax year and thereafter
  • Reserve Forces compensation remains capped at the existing $15,000 exclusion limit and is not affected by this increase
  • Amends Section 27-7-15 of the Mississippi Code of 1972, which defines "gross income" for state income tax purposes
  • Sponsored by Representatives Carpenter and Harris, referred to the Ways and Means Committee
  • Takes effect January 1, 2026, with existing tax claims and assessments under prior law unaffected

Legislative Description

Income tax; increase amount of National Guard compensation excluded from gross income.

Last Action

Died In Committee

2/25/2026

Committee Referrals

Ways and Means1/14/2026

Full Bill Text

No bill text available