Bill > HB1792

This bill, known as the Mississippi Talent Exchange for Advancement of Careers and Higher Education (TEACH) Credit Act, establishes a state income tax credit for private employers in Mississippi who loan qualified employees to serve as instructors at community colleges in high-demand Career and Technical Education (CTE) programs or workforce training. The credit is intended to address a shortage of qualified instructors in these fields by leveraging the expertise within private industry, thereby strengthening the state's workforce development and economic growth. Employers can claim a credit equal to the salary and benefits they continue to pay to the loaned employee during their teaching assignment, provided these costs are not already covered by public funds or other grants. The total amount of tax credits available to all employers annually is capped at $1,000,000, and any unused credit can be carried forward for five years. The Mississippi Community College Board, in conjunction with the Department of Revenue, will administer the program, ensuring that community colleges designate eligible programs, approve employer participation, and verify employee qualifications, while employers must maintain full salary and benefits for the loaned employee and enter into a written agreement with the college. Both employers and colleges are required to submit annual reports on program participation and outcomes, and the Community College Board will report on the program's effectiveness to the Legislature. This act will take effect on January 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1792.xml