MS SB2866

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

Tax credit limited to 50% of taxpayer's total state income tax liability, with unused credits carried forward for up to five consecutive years.

Qualifying organizations must be 501(c)(3) nonprofits that serve at least 15 qualified individuals annually in Mississippi 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).

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