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MS SB3118
Bill
Status
Failed
2/25/2026
Primary Sponsor
Angela Burks Hill
Click for details
AI Summary
- Creates a state income tax credit of up to $2,500 per K-12 student for educational expenses including private school tuition, textbooks, instructional materials, school supplies, and school-sponsored activity fees
- Caps the total tax credits awarded statewide at $20 million per calendar year, with recipients selected through a lottery system administered by the Department of Revenue
- Allows unused credits to be carried forward for five consecutive years, limited to the taxpayer's total state income tax liability in any given year
- Excludes expenses paid with Education Savings Account (ESA) funds from eligibility
- Establishes a one-year pilot program covering only eligible expenses incurred in calendar year 2026
Legislative Description
Income tax; implement pilot program authorizing credit for educational expenses, awarded by lottery system.
Last Action
Died In Committee
2/25/2026
Committee Referrals
Finance2/17/2026
Full Bill Text
No bill text available