MS HB738

Creates an income tax credit for voluntary cash contributions to qualifying charitable organizations that serve individuals with intellectual, developmental, and/or physical disabilities who cannot live independently.

Tax credit limited to 50% of taxpayer's total tax liability, with unused credits eligible for carryforward for 5 consecutive years.

Qualifying organizations must be 501(c)(3) nonprofits that serve at least 15 qualified individuals in Mississippi annually and spend at least 50% of their budget on services to these individuals.

Aggregate tax credits capped at $500,000 per calendar year for individual taxpayers and a separate $500,000 cap for business taxpayers (corporations, LLCs, partnerships, sole proprietorships).

Qualifying organizations must certify they do not provide, pay for, or financially support abortion services, and contributions claimed as credits cannot also be used as state income tax deductions.