MS SB2845

Creates an income tax credit for monetary contributions made to Mississippi state institutions of higher learning under the Board of Trustees of State Institutions of Higher Learning

Caps the credit at $25,000 total per taxpayer annually, regardless of how many institutions receive contributions

Allows unused portions of the credit to be carried forward for five succeeding tax years

Takes effect January 1, 2026, applying to contributions made in calendar year 2026 and thereafter