Bill Text: MS SB2845 | 2026 | Regular Session | Introduced
Bill Title: Income tax; authorize credit for contributions to state institutions of higher learning.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2026-02-25 - Died In Committee [SB2845 Detail]
Download: Mississippi-2026-SB2845-Introduced.html
MISSISSIPPI LEGISLATURE
2026 Regular Session
To: Finance
By: Senator(s) Norwood
Senate Bill 2845
AN ACT TO AUTHORIZE AN INCOME TAX CREDIT, IN AN AMOUNT NOT TO EXCEED $25,000.00 ANNUALLY PER TAXPAYER, FOR CONTRIBUTIONS TO ONE OR MORE STATE INSTITUTIONS OF HIGHER LEARNING; TO PROVIDE THAT ANY UNUSED PORTION OF THE CREDIT MAY BE CARRIED FORWARD FOR THE FIVE SUCCEEDING TAX YEARS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) As used in this section, "state institution of higher learning" refers to any institution under the management and control of the Board of Trustees of State Institutions of Higher Learning, as provided in Section 37-101-1.
(2) There shall be allowed as a credit against the tax imposed by this chapter the amount of any monetary contributions to one or more state institution of higher learning, not to exceed Twenty-five Thousand Dollars ($25,000.00) in total contributions per taxpayer, during calendar year 2026 or any calendar year thereafter.
(3) Any portion of a credit claimed under this section but not used in a tax year may be carried forward for the five (5) succeeding tax years.
SECTION 2. Section 1 of this act shall be codified in Chapter 7, Title 27, Mississippi Code of 1972.
SECTION 3. This act shall take effect and be in force from and after January 1, 2026.
