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Bill > HB870

MS HB870

MS HB870
Income tax; authorize a credit for private school tuition and homeschooling expenses.

summary

Introduced
01/17/2022
In Committee
01/17/2022
Crossed Over
Passed
Dead
02/23/2022

Introduced Session

2022 Regular Session

Bill Summary

An Act To Authorize An Income Tax Credit For Payments Made By A Taxpayer For Tuition Required For A Child To Attend A Nonpublic School; To Provide For The Amount Of The Tax Credit; To Limit The Amount Of The Tax Credit That May Be Claimed In A Taxable Year; To Provide That Any Tax Credit Claimed But Not Used In A Taxable Year May Be Carried Forward For Five Years; To Authorize An Income Tax Credit For Expenses Paid By A Taxpayer Necessary For The Homeschooling Of A Child; To Provide For The Amount Of The Tax Credit; To Limit The Amount Of The Tax Credit That May Be Claimed In A Taxable Year; To Provide That Any Tax Credit Claimed But Not Used In A Taxable Year May Be Carried Forward For Five Years; And For Related Purposes.

AI Summary

This bill authorizes an income tax credit for taxpayers who make payments for tuition required for their children to attend a non-public (private) elementary or secondary school, up to $1,500 per child per year. It also authorizes an income tax credit for expenses paid by taxpayers for homeschooling their children, up to $1,500 per child per year. The credits can be carried forward for up to 5 years if not fully used in the taxable year. The bill defines "tuition" to include various costs associated with non-public school attendance, and defines "homeschooling" as education provided by private teachers, parents, guardians, or custodians in a legitimate home instruction program. The bill takes effect on January 1, 2022.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Died In Committee (on 02/23/2022)

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