Amendment vs bill Committee Amendment No 1 (Adopted) (Voice Vote) vs As Passed the lower

Struck = removed from the bill ยท added = the amendment's new text.

Previous
Latest
MISSISSIPPI LEGISLATURE REGULAR SESSION 2023 By:
Adopted COMMITTEE AMENDMENT NO 1 PROPOSED TO House Bill No.
Representatives Gunn, Lamar, Felsher, To:
1671 BY:
Ways and Means Williamson, Hopkins, Eubanks, Boyd (19th), Miles HOUSE BILL NO.
Committee Amend by striking all after the enacting clause and inserting in lieu thereof the following:
1671 (As Passed the House) AN ACT TO AMEND SECTION 27-7-22.43, MISSISSIPPI CODE OF 1972, WHICH PROVIDES AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR CONTRIBUTIONS MADE BY CERTAIN TAXPAYERS TO CERTAIN ELIGIBLE CHARITABLE ORGANIZATIONS UNDER THE PREGNANCY RESOURCE ACT, TO INCREASE THE AMOUNT OF CREDITS THAT MAY BE ALLOCATED BY THE DEPARTMENT OF REVENUE UNDER THIS SECTION;
TO REVISE THE TAXPAYERS ELIGIBLE FOR AN AD VALOREM TAX CREDIT FOR SUCH CONTRIBUTIONS;
TO AMEND SECTION 27-7-22.32, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES AN INCOME TAX CREDIT FOR EXPENSES INCURRED FOR THE ADOPTION OF A CHILD, TO INCREASE THE AMOUNT OF THE CREDIT AND TO DELETE THE REVERTER ON THE PROVISION OF LAW THAT INCREASES THE MAXIMUM AMOUNT OF THE TAX CREDIT FROM $2,500 TO $5,000 PER CHILD AND THE PROVISION THAT AUTHORIZES AN INCOME TAX CREDIT FOR A CHILD ADOPTED THROUGH THE MISSISSIPPI DEPARTMENT OF CHILD PROTECTION SERVICES;
TO AMEND SECTION 27-7-22.39, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES INCOME TAX CREDITS FOR VOLUNTARY CASH CONTRIBUTIONS TO QUALIFYING CHARITABLE ORGANIZATIONS AND QUALIFYING FOSTER CARE CHARITABLE ORGANIZATIONS, TO REVISE THE AMOUNT OF CREDIT THAT A TAXPAYER IS ALLOWED TO CLAIM FOR SUCH A VOLUNTARY CASH CONTRIBUTION;
TO BRING FORWARD SECTION 27-7-22.41, MISSISSIPPI CODE OF 1972, WHICH PROVIDES AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR CONTRIBUTIONS MADE BY CERTAIN TAXPAYERS TO CERTAIN ELIGIBLE CHARITABLE ORGANIZATIONS, FOR THE PURPOSES OF POSSIBLE AMENDMENT;
TO AUTHORIZE AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS BY TAXPAYERS TO ELIGIBLE TRANSITIONAL HOME ORGANIZATIONS;
TO LIMIT THE AMOUNT OF THE TAX CREDIT;
TO PROVIDE THAT UNUSED PORTIONS OF A TAX CREDIT MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDIT WAS EARNED;
TO PROVIDE THE CRITERIA THAT AN ELIGIBLE TRANSITIONAL HOME ORGANIZATION MUST MEET IN ORDER FOR A CONTRIBUTION TO THE ORGANIZATION TO QUALIFY FOR A TAX CREDIT AUTHORIZED BY THIS ACT;
TO AUTHORIZE AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ R3/5 23/HR31/R2214PH PAGE 1 (BS\JAB) AND AD VALOREM TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS BY TAXPAYERS TO ELIGIBLE CHARITABLE ORGANIZATIONS;
TO LIMIT THE AMOUNT OF THE TAX CREDIT;
TO PROVIDE THAT UNUSED PORTIONS OF A TAX CREDIT MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDIT WAS EARNED;
TO PROVIDE THE CRITERIA THAT AN ELIGIBLE CHARITABLE ORGANIZATION MUST MEET IN ORDER FOR A CONTRIBUTION TO THE ORGANIZATION TO QUALIFY FOR A TAX CREDIT AUTHORIZED BY THIS ACT;
TO AUTHORIZE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS CLAIMING A FEDERAL INCOME TAX CREDIT FOR CERTAIN DEPENDENT CARE EXPENSES;
TO PROVIDE THE AMOUNT OF THE CREDIT;
AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
(b) "Eligible charitable organization" means an organization that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and is a pregnancy resource center or crisis pregnancy center eligible to receive funding disbursed by the Choose Life Advisory Committee under Section 27-19-56.70, 27-19-56.277 and/or 27-19-56.412.
(b) "Eligible charitable organization" means an organization that is exempt from federal income taxation under 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 1 Section 501(c)(3) of the Internal Revenue Code and is a pregnancy resource center or crisis pregnancy center eligible to receive funding disbursed by the Choose Life Advisory Committee under Section 27-19-56.70, 27-19-56.277 and/or 27-19-56.412.
Except as otherwise provided in this section, a H.
Except as otherwise provided in this section, a credit is allowed against the taxes imposed by Sections 27-7-5, 27-15-103, 27-15-109 and 27-15-123, for voluntary cash contributions made by a taxpayer during the taxable year to an eligible charitable organization.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 2(BS\JAB) authorize additional.
credit is allowed against the taxes imposed by Sections 27-7-5, 27-15-103, 27-15-109 and 27-15-123, for voluntary cash contributions made by a taxpayer during the taxable year to an eligible charitable organization.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to (i) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by such sections of law and (ii) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to (i) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by such sections of law and (ii) an amount not to exceed fifty percent 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 2 (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 3(BS\JAB) authorize additional.
(b) A statement that the organization does not provide, pay for or provide coverage of abortions and does not financially support any other entity that provides, pays for or provides coverage of abortions;
(b) A statement that the organization does not provide, pay for or provide coverage of abortions and does not financially 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 3 support any other entity that provides, pays for or provides coverage of abortions;
The department may also H.
The department may also periodically request recertification from the organization.
Show all 386 changed rows (346 more)
Previous
Latest
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 4(BS\JAB) authorize additional.
periodically request recertification from the organization.
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this section in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 4 However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this section in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
Once the department has allocated credits to a taxpayer, if the contribution for which a credit is allocated has not been made as H.
Once the department has allocated credits to a taxpayer, if the contribution for which a credit is allocated has not been made as of the date of the allocation, then the contribution must be made not later than sixty (60) days from the date of the allocation.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 5(BS\JAB) authorize additional.
of the date of the allocation, then the contribution must be made not later than sixty (60) days from the date of the allocation.
The tax collector shall forward the tax credit documentation to the Department of Revenue along with the amount of the tax credit applied against ad valorem taxes, and the department shall disburse funds to the tax collector for the amount of the tax credit applied against ad valorem taxes.
The tax collector shall forward the tax credit documentation to the Department of Revenue along with the amount of the tax credit applied against ad valorem taxes, and the department shall disburse funds to the tax collector for the 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 5 amount of the tax credit applied against ad valorem taxes.
However, for calendar year 2023, and for each calendar year thereafter, the aggregate amount of tax credits that H.
However, for calendar year 2023, and for each calendar year thereafter, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Ten Million Dollars ($10,000,000.00).
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 6(BS\JAB) authorize additional.
may be allocated by the department under this section during a calendar year shall not exceed Ten Million Dollars ($10,000,000.00).
(1) (a) There shall be allowed as a credit against the tax imposed by this chapter the amount of the qualified adoption expenses paid or incurred, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), for each dependent child legally adopted by a taxpayer under the laws of this state during calendar year 2006 or during any calendar year thereafter through calendar year 2017, * * * not to exceed Five Thousand Dollars ($5,000.00) for each dependent child legally adopted by a taxpayer under the laws of this state during any calendar year thereafter through calendar year 2022, and not to exceed Ten Thousand Dollars ($10,000.00) for each dependent child legally adopted by a taxpayer under the laws of this state during any calendar year thereafter.
(1) (a) There shall be allowed as a credit against the tax imposed by this chapter the amount of the qualified adoption expenses paid or incurred, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), for each dependent child legally adopted by a taxpayer under the laws of this state during calendar year 2006 or during any calendar year thereafter through calendar year 2017, * * * not to exceed Five Thousand Dollars ($5,000.00) for each dependent child legally adopted by a 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 6 taxpayer under the laws of this state during any calendar year thereafter through calendar year 2022, and not to exceed Ten Thousand Dollars ($10,000.00) for each dependent child legally adopted by a taxpayer under the laws of this state during any calendar year thereafter.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 7(BS\JAB) authorize additional.
A tax credit is allowed under this section for any child for which an exemption is claimed during the same taxable year under Section 27-7-21(e).
A tax credit is allowed under this section for any child for which an exemption is claimed during the same 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 7 taxable year under Section 27-7-21(e).
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 8(BS\JAB) authorize additional.
A charitable organization that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and that meets all other requirements of this paragraph except that it does not spend at least fifty percent (50%) of its overall budget in Mississippi may be a qualifying charitable organization if it spends at least fifty percent (50%) of its Mississippi budget on services to qualified individuals in Mississippi and it certifies to the department that one hundred percent (100%) of the voluntary cash contributions from the taxpayer will be spent on services to qualified individuals in Mississippi.
A charitable organization that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and that meets all other requirements of this paragraph except that it does not spend at least fifty percent (50%) of its overall budget in Mississippi may 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 8 be a qualifying charitable organization if it spends at least fifty percent (50%) of its Mississippi budget on services to qualified individuals in Mississippi and it certifies to the department that one hundred percent (100%) of the voluntary cash contributions from the taxpayer will be spent on services to qualified individuals in Mississippi.
Taxpayers choosing to make donations through an umbrella charitable organization that H.
Taxpayers choosing to make donations through an umbrella charitable organization that collects donations on behalf of member charities shall designate that the donation be directed to a member charitable organization that would qualify under this section on a stand-alone basis.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 9(BS\JAB) authorize additional.
collects donations on behalf of member charities shall designate that the donation be directed to a member charitable organization that would qualify under this section on a stand-alone basis.
A charitable organization that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and that meets all other requirements of this paragraph except that it does not spend at least fifty percent (50%) of its overall budget in Mississippi may be a qualifying foster care charitable organization if it spends at least fifty percent (50%) of its Mississippi budget on services to qualified individuals in Mississippi and it certifies to the department that one hundred percent (100%) of the voluntary cash contributions from the taxpayer will be spent on services to qualified individuals in Mississippi.
A charitable organization that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and that meets all other requirements of this paragraph except that it does not spend at least fifty percent (50%) of its overall budget in Mississippi may be a qualifying foster care charitable organization if it spends at least fifty percent (50%) of its 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 9 Mississippi budget on services to qualified individuals in Mississippi and it certifies to the department that one hundred percent (100%) of the voluntary cash contributions from the taxpayer will be spent on services to qualified individuals in Mississippi.
For the purposes of this paragraph, "qualified individual" means a child in a foster care placement program established by the Department of Child Protection Services, a H.
For the purposes of this paragraph, "qualified individual" means a child in a foster care placement program established by the Department of Child Protection Services, a child placed under the Safe Families for Children model, or a child at significant risk of entering a foster care placement program established by the Department of Child Protection Services.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 10(BS\JAB) authorize additional.
child placed under the Safe Families for Children model, or a child at significant risk of entering a foster care placement program established by the Department of Child Protection Services.
(2) (a) Except as provided in subsections (3) and (4) of this section, a credit is allowed against the taxes imposed by this chapter for voluntary cash contributions by the taxpayer during the taxable year to a qualifying charitable organization, other than a qualifying foster care charitable organization, through calendar year 2022, not to exceed:
(2) (a) Except as provided in subsections (3) and (4) of this section, a credit is allowed against the taxes imposed by this chapter for voluntary cash contributions by the taxpayer during the taxable year to a qualifying charitable organization, 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 10 other than a qualifying foster care charitable organization, through calendar year 2022, not to exceed:
( * * *i) The lesser of Four Hundred Dollars ($400.00) or the amount of the contribution in any taxable year for a single individual or a head of household.
( * * *i) the lesser of Four Hundred Dollars ($400.00) or the amount of the contribution in any taxable year for a single individual or a head of household.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 11(BS\JAB) authorize additional.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to (i) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by this chapter and (ii) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to (i) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by this chapter, and (ii) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
Any tax credit claimed under this paragraph but not used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.
Any tax credit claimed under this paragraph but not used in any taxable 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 11 year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.
(3) (a) A separate credit is allowed against the taxes imposed by this chapter for voluntary cash contributions during the taxable year to a qualifying foster care charitable H.
(3) (a) A separate credit is allowed against the taxes imposed by this chapter for voluntary cash contributions during the taxable year to a qualifying foster care charitable organization.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 12(BS\JAB) authorize additional.
organization.
( * * *i) The lesser of Five Hundred Dollars ($500.00) or the amount of the contribution in any taxable year for a single individual or a head of household.
( * * *i) the lesser of Five Hundred Dollars ($500.00) or the amount of the contribution in any taxable year for a single individual or a head of household.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to (i) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by this chapter and (ii) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
The amount of credit that may be utilized by a taxpayer in a 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 12 taxable year shall be limited to (i) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by this chapter, and (ii) an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
Any tax H.
Any tax credit claimed under this paragraph but not used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 13(BS\JAB) authorize additional.
credit claimed under this paragraph but not used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.
(6) Except as otherwise provided in subsections (2) and (3) of this section, if the allowable tax credit exceeds the taxes otherwise due under this chapter on the claimant's income, or if there are no taxes due under this chapter, the taxpayer may carry forward the amount of the claim not used to offset the taxes under this chapter for not more than five (5) consecutive taxable years' income tax liability.
(6) Except as otherwise provided in subsections (2) and (3) of this section, if the allowable tax credit exceeds the taxes 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 13 otherwise due under this chapter on the claimant's income, or if there are no taxes due under this chapter, the taxpayer may carry forward the amount of the claim not used to offset the taxes under this chapter for not more than five (5) consecutive taxable years' income tax liability.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 14(BS\JAB) authorize additional.
(b) Financial data indicating the organization's budget for the organization's prior operating year and the amount of that budget spent on services to residents of this state who either:
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 14 (b) Financial data indicating the organization's budget for the organization's prior operating year and the amount of that budget spent on services to residents of this state who either:
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 15(BS\JAB) authorize additional.
A charitable organization that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and that meets all other requirements for a qualifying charitable organization or qualifying foster care charitable organization except that it does not spend at least fifty percent (50%) of its overall budget in Mississippi shall H.
A charitable organization that is 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 15 exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and that meets all other requirements for a qualifying charitable organization or qualifying foster care charitable organization except that it does not spend at least fifty percent (50%) of its overall budget in Mississippi shall submit a statement that it spends at least fifty percent (50%) of its Mississippi budget on services to qualified individuals in Mississippi and that one hundred percent (100%) of the voluntary cash contributions it receives from Mississippi taxpayers will be spent on services to qualified individuals in Mississippi.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 16(BS\JAB) authorize additional.
submit a statement that it spends at least fifty percent (50%) of its Mississippi budget on services to qualified individuals in Mississippi and that one hundred percent (100%) of the voluntary cash contributions it receives from Mississippi taxpayers will be spent on services to qualified individuals in Mississippi.
The department shall compile and make available to the public a list of the qualifying charitable organizations.
The 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 16 department shall compile and make available to the public a list of the qualifying charitable organizations.
However, for calendar year 2021, H.
However, for calendar year 2021, and for each calendar year thereafter, the aggregate amount of tax credits that may be awarded under this section in any calendar year shall not exceed One Million Dollars ($1,000,000.00).
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 17(BS\JAB) authorize additional.
and for each calendar year thereafter, the aggregate amount of tax credits that may be awarded under this section in any calendar year shall not exceed One Million Dollars ($1,000,000.00).
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this section in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this section in a calendar year, 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 17 the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
Once the department has allocated credits to a taxpayer, if the contribution for which a credit is allocated has not been made as of the date of the H.
Once the department has allocated credits to a taxpayer, if the contribution for which a credit is allocated has not been made as of the date of the allocation, then the contribution must be made not later than sixty (60) days from the date of the allocation.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 18(BS\JAB) authorize additional.
allocation, then the contribution must be made not later than sixty (60) days from the date of the allocation.
(i) Licensed by or under contract with the Mississippi Department of Child Protection Services and provides services for:
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 18 (i) Licensed by or under contract with the Mississippi Department of Child Protection Services and provides services for:
The prevention and diversion of children from custody with the Department of Child Protection Services, H.
The prevention and diversion of children from custody with the Department of Child Protection Services, 2.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 19(BS\JAB) authorize additional.
2.
(2) (a) The tax credit authorized in this section shall be available only to a taxpayer who is a business enterprise engaged in commercial, industrial or professional activities and operating as a corporation, limited liability company, partnership or sole proprietorship.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 19 (2) (a) The tax credit authorized in this section shall be available only to a taxpayer who is a business enterprise engaged in commercial, industrial or professional activities and operating as a corporation, limited liability company, partnership or sole proprietorship.
Except as otherwise provided in this section, a H.
Except as otherwise provided in this section, a credit is allowed against the taxes imposed by Sections 27-7-5, 27-15-103, 27-15-109 and 27-15-123, for voluntary cash contributions made by a taxpayer during the taxable year to an eligible charitable organization.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 20(BS\JAB) authorize additional.
credit is allowed against the taxes imposed by Sections 27-7-5, 27-15-103, 27-15-109 and 27-15-123, for voluntary cash contributions made by a taxpayer during the taxable year to an eligible charitable organization.
(b) A contribution to an eligible charitable organization for which a credit is claimed under this section does not qualify for and shall not be included in any credit that may be claimed under Section 27-7-22.39.
(b) A contribution to an eligible charitable organization for which a credit is claimed under this section does 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 20 not qualify for and shall not be included in any credit that may be claimed under Section 27-7-22.39.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 21(BS\JAB) authorize additional.
(b) A statement that the organization does not provide, pay for or provide coverage of abortions and does not financially support any other entity that provides, pays for or provides coverage of abortions;
(b) A statement that the organization does not provide, pay for or provide coverage of abortions and does not financially 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 21 support any other entity that provides, pays for or provides coverage of abortions;
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 22(BS\JAB) authorize additional.
In the application the taxpayer shall certify to the department the dollar amount of the contributions made or to be made during the calendar year.
In the application the taxpayer shall certify to the department the dollar amount of the contributions made or to be made during the 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 22 calendar year.
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the H.
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this section in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 23(BS\JAB) authorize additional.
aggregate amount of credits that may be awarded under this section in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
(c) For the purposes of using a tax credit against ad valorem taxes assessed and levied on real property, a taxpayer shall present to the appropriate tax collector the tax credit documentation provided to the taxpayer by the Department of Revenue, and the tax collector shall apply the tax credit against H.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 23 (c) For the purposes of using a tax credit against ad valorem taxes assessed and levied on real property, a taxpayer shall present to the appropriate tax collector the tax credit documentation provided to the taxpayer by the Department of Revenue, and the tax collector shall apply the tax credit against such ad valorem taxes.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 24(BS\JAB) authorize additional.
such ad valorem taxes.
However, for calendar year 2021, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Ten Million Dollars ($10,000,000.00), for calendar year 2022, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Sixteen Million Dollars ($16,000,000.00), and for calendar year 2023, and for each calendar year thereafter, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Eighteen Million Dollars ($18,000,000.00).
However, for calendar year 2021, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Ten Million Dollars ($10,000,000.00), for calendar year 2022, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Sixteen Million Dollars ($16,000,000.00), and for calendar 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 24 year 2023, and for each calendar year thereafter, the aggregate amount of tax credits that may be allocated by the department under this section during a calendar year shall not exceed Eighteen Million Dollars ($18,000,000.00).
For calendar year 2021, and for each calendar year thereafter, fifty percent (50%) H.
For calendar year 2021, and for each calendar year thereafter, fifty percent (50%) of the tax credits allocated during a calendar year shall be allocated for contributions to eligible charitable organizations described in subsection (1)(b)(i) of this section and fifty percent (50%) of the tax credits allocated during a calendar year shall be allocated for contributions to eligible charitable organizations described in subsection (1)(b)(ii) of this section.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 25(BS\JAB) authorize additional.
of the tax credits allocated during a calendar year shall be allocated for contributions to eligible charitable organizations described in subsection (1)(b)(i) of this section and fifty percent (50%) of the tax credits allocated during a calendar year shall be allocated for contributions to eligible charitable organizations described in subsection (1)(b)(ii) of this section.
SECTION 5.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 25 SECTION 5.
(b) "Eligible transitional home organization" means an organization that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code that provides H.
(b) "Eligible transitional home organization" means an organization that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code that provides transitional housing for homeless persons age twenty-five (25) and under, homeless families and/or homeless and/or referred unwed pregnant women.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 26(BS\JAB) authorize additional.
transitional housing for homeless persons age twenty-five (25) and under, homeless families and/or homeless and/or referred unwed pregnant women.
(c) "Transitional housing" means temporary housing the purpose of which is to provide homeless persons age twenty-five (25) and under, homeless families and/or homeless and/or referred unwed pregnant women with temporary shelter and facilitate their movement to permanent housing within an amount of time that the eligible transitional home organization determines to be appropriate.
(c) "Transitional housing" means temporary housing the purpose of which is to provide homeless persons age twenty-five (25) and under, homeless families and/or homeless and/or referred 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 26 unwed pregnant women with temporary shelter and facilitate their movement to permanent housing within an amount of time that the eligible transitional home organization determines to be appropriate.
"Transitional housing" includes a program designed by the eligible transitional home organization that offers structure, supervision, support, life skills, education and training as the H.
"Transitional housing" includes a program designed by the eligible transitional home organization that offers structure, supervision, support, life skills, education and training as the eligible transitional home organization determines to be appropriate for each individual and/or family to achieve and/or maintain independence.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 27(BS\JAB) authorize additional.
eligible transitional home organization determines to be appropriate for each individual and/or family to achieve and/or maintain independence.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by such sections of law and an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to an amount not to exceed fifty percent (50%) of the total tax liability of the 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 27 taxpayer for the taxes imposed by such sections of law and an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 28(BS\JAB) authorize additional.
(d) The eligible transitional home organization's written certification must be signed by an officer of the organization under penalty of perjury.
(d) The eligible transitional home organization's written certification must be signed by an officer of the 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 28 organization under penalty of perjury.
(ii) Information about the facilities that demonstrate the applicant's ability to provide housing for H.
(ii) Information about the facilities that demonstrate the applicant's ability to provide housing for homeless persons age twenty-five (25) and under, homeless families, and/or homeless and/or referred unwed pregnant women;
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 29(BS\JAB) authorize additional.
homeless persons age twenty-five (25) and under, homeless families, and/or homeless and/or referred unwed pregnant women;
The department may also periodically request recertification from the organization.
The department may also periodically request recertification from 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 29 the organization.
(f) Tax credits authorized by this subsection that are earned by a partnership, limited liability company, S corporation or other similar pass-through entity, shall be allocated among all partners, members or shareholders, respectively, either in proportion to their ownership interest in such entity or as the H.
(f) Tax credits authorized by this subsection that are earned by a partnership, limited liability company, S corporation or other similar pass-through entity, shall be allocated among all partners, members or shareholders, respectively, either in proportion to their ownership interest in such entity or as the partners, members or shareholders mutually agree as provided in an executed document.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 30(BS\JAB) authorize additional.
partners, members or shareholders mutually agree as provided in an executed document.
Once the department has allocated credits to a taxpayer, if the contribution for which a credit is allocated has not been made as of the date of the allocation, then the contribution must be made not later than sixty (60) days from the date of the allocation.
Once the department has allocated credits to a taxpayer, if the contribution for which a credit is allocated has not been made as of the date of the allocation, then the contribution must be made 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 30 not later than sixty (60) days from the date of the allocation.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 31(BS\JAB) authorize additional.
For credits allocated during a calendar year for contributions to eligible transitional home organizations, no more than twenty-five percent (25%) of such credits may be allocated for contributions to a single eligible transitional home organization.
For credits allocated during a calendar year for contributions to eligible transitional home organizations, no more than twenty-five percent (25%) of such credits may be 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 31 allocated for contributions to a single eligible transitional home organization.
A credit is also allowed against ad valorem taxes H.
A credit is also allowed against ad valorem taxes assessed and levied on real property for voluntary cash contributions made by an individual taxpayer during the taxable year to an eligible transitional home organization.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 32(BS\JAB) authorize additional.
assessed and levied on real property for voluntary cash contributions made by an individual taxpayer during the taxable year to an eligible transitional home organization.
(iii) A contribution to an eligible transitional home organization for which a credit is claimed under this subsection does not qualify for and shall not be included in any credit that may be claimed under subsection (2) of this section.
(iii) A contribution to an eligible transitional home organization for which a credit is claimed under this 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 32 subsection does not qualify for and shall not be included in any credit that may be claimed under subsection (2) of this section.
(b) Taxpayers taking a credit authorized by this subsection shall provide the name of the eligible transitional H.
(b) Taxpayers taking a credit authorized by this subsection shall provide the name of the eligible transitional home organization and the amount of the contribution to the department on forms provided by the department.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 33(BS\JAB) authorize additional.
home organization and the amount of the contribution to the department on forms provided by the department.
(iii) Sufficient materials to document the program of the applicant that demonstrate that the applicant has and runs a program that offers structure, supervision, support, life skills, education and training as the eligible transitional home organization determines to be appropriate for each individual and/or family to achieve and/or maintain independence;
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 33 (iii) Sufficient materials to document the program of the applicant that demonstrate that the applicant has and runs a program that offers structure, supervision, support, life skills, education and training as the eligible transitional home organization determines to be appropriate for each individual and/or family to achieve and/or maintain independence;
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 34(BS\JAB) authorize additional.
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this subsection in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 34 However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this subsection in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 35(BS\JAB) authorize additional.
The tax collector shall forward the tax credit documentation to the Department of Revenue along with the amount of the tax credit applied against ad valorem taxes, and the department shall disburse funds to the tax collector for the amount of the tax credit applied against ad valorem taxes.
The tax collector shall forward the tax credit documentation to the Department of Revenue along with the amount of the tax credit applied against ad valorem taxes, and the department shall disburse funds to the tax collector for the 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 35 amount of the tax credit applied against ad valorem taxes.
(g) The aggregate amount of tax credits that may be allocated by the department under this subsection during a H.
(g) The aggregate amount of tax credits that may be allocated by the department under this subsection during a calendar year shall not exceed One Million Dollars ($1,000,000.00).
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 36(BS\JAB) authorize additional.
calendar year shall not exceed One Million Dollars ($1,000,000.00).
(ii) "Eligible charitable organization" means an organization that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and spends at least fifty percent (50%) of its budget on contracting or making other agreements or arrangements with physicians and/or nurse practitioners to provide health care services to low-income residents of this state including those who are mothers and to their households.
(ii) "Eligible charitable organization" means an organization that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and spends at least fifty percent (50%) of its budget on contracting or making other agreements or arrangements with physicians and/or nurse practitioners to provide health care services to low-income residents of this state, including those who are mothers and to their households.
(iii) "Low-income residents" means persons whose household income does not exceed one hundred eighty-five percent (185%) of the federal poverty level converted to a modified adjusted gross income equivalent standard.
(iii) "Low-income residents" means persons whose household income does not exceed one hundred eighty-five percent 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 36 (185%) of the federal poverty level converted to a modified adjusted gross income equivalent standard.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 37(BS\JAB) authorize additional.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by such sections of law and an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem taxes assessed and levied on real property.
The amount of credit that may be utilized by a taxpayer in a taxable year shall be limited to an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for the taxes imposed by such sections of law and an amount not to exceed fifty percent (50%) of the total tax liability of the taxpayer for ad valorem 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 37 taxes assessed and levied on real property.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 38(BS\JAB) authorize additional.
(i) Verification of the organization's status under Section 501(c)(3) of the Internal Revenue Code;
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 38 (i) Verification of the organization's status under Section 501(c)(3) of the Internal Revenue Code;
(ii) A statement that the organization does not provide, pay for or provide coverage of abortions and does not H.
(ii) A statement that the organization does not provide, pay for or provide coverage of abortions and does not financially support any other entity that provides, pays for or provides coverage of abortions;
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 39(BS\JAB) authorize additional.
financially support any other entity that provides, pays for or provides coverage of abortions;
In the application the taxpayer shall certify to the department the dollar amount of the contributions made or to be made during the calendar year.
In the application the taxpayer shall certify to the department the 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 39 dollar amount of the contributions made or to be made during the calendar year.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 40(BS\JAB) authorize additional.
(ii) For the purposes of using a tax credit against ad valorem taxes assessed and levied on real property, a taxpayer shall present to the appropriate tax collector the tax credit documentation provided to the taxpayer by the Department of Revenue, and the tax collector shall apply the tax credit against such ad valorem taxes.
(ii) For the purposes of using a tax credit against ad valorem taxes assessed and levied on real property, a taxpayer shall present to the appropriate tax collector the tax credit documentation provided to the taxpayer by the Department of Revenue, and the tax collector shall apply the tax credit against 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 40 such ad valorem taxes.
The tax collector shall forward the tax credit documentation to the Department of Revenue along with the amount of the tax credit applied against ad valorem taxes, and the department shall disburse funds to the tax collector for the H.
The tax collector shall forward the tax credit documentation to the Department of Revenue along with the amount of the tax credit applied against ad valorem taxes, and the department shall disburse funds to the tax collector for the amount of the tax credit applied against ad valorem taxes.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 41(BS\JAB) authorize additional.
amount of the tax credit applied against ad valorem taxes.
Any tax credit claimed under this subsection but not used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.
Any tax credit claimed under this subsection but not 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 41 used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 42(BS\JAB) authorize additional.
(d) The eligible charitable organization's written certification must be signed by an officer of the organization under penalty of perjury.
(d) The eligible charitable organization's written certification must be signed by an officer of the organization 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 42 under penalty of perjury.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 43(BS\JAB) authorize additional.
However, if the department cannot allocate the full amount of credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this H.
However, if the department cannot allocate the full amount of 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 43 credits certified in the application due to the limit on the aggregate amount of credits that may be awarded under this subsection in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 44(BS\JAB) authorize additional.
subsection in a calendar year, the department shall so notify the applicant within thirty (30) days with the amount of credits, if any, that may be allocated to the applicant in the calendar year.
Such payments by the Department of Revenue shall be made from current tax collections.
Such 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 44 payments by the Department of Revenue shall be made from current tax collections.
H.
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 45(BS\JAB) authorize additional.
(2) Subject to the provisions of this section, any taxpayer allowed to claim a federal income tax credit under 26 USCS Section 21 for employment-related expenses incurred related to one (1) or more qualifying individuals shall be allowed a credit against the taxes imposed under this chapter in the manner prescribed in this section.
(2) Subject to the provisions of this section, any taxpayer allowed to claim a federal income tax credit under 26 USCS Section 21 for employment-related expenses incurred related to one or more qualifying individuals shall be allowed a credit against the taxes imposed under this chapter in the manner prescribed in this section.
In order to claim the credit provided for in this section, a taxpayer must claim the federal income tax credit on the taxpayer's federal H.
In order 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 45 to claim the credit provided for in this section, a taxpayer must claim the federal income tax credit on the taxpayer's federal income tax return and have an adjusted gross income for such return of not more than Fifty Thousand Dollars ($50,000.00).
B.
No.
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH ST:
Tax credits;
revise certain existing and PAGE 46(BS\JAB) authorize additional.
income tax return and have an adjusted gross income for such return of not more than Fifty Thousand Dollars ($50,000.00).
Sections 5, 6, and 7 of this act shall be codified as new sections in Chapter 7, Title 27, Mississippi Code of 1972.
Sections 5, 6 and 7 of this act shall be codified as new sections in Title 27, Chapter 7, Mississippi Code of 1972.
This act shall take effect and be in force from and after January 1, 2023.
This act shall take effect and be in force from and after January 1, 2023, and shall stand repealed on December 31, 2022.
H.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 46 Further, amend by striking the title in its entirety and inserting in lieu thereof the following:
B.
AN ACT TO AMEND SECTION 27-7-22.43, MISSISSIPPI CODE OF 1972, WHICH PROVIDES AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR CONTRIBUTIONS MADE BY CERTAIN TAXPAYERS TO CERTAIN ELIGIBLE CHARITABLE ORGANIZATIONS UNDER THE PREGNANCY RESOURCE ACT, TO INCREASE THE AMOUNT OF CREDITS THAT MAY BE ALLOCATED BY THE DEPARTMENT OF REVENUE UNDER THIS SECTION;
No.
TO REVISE THE TAXPAYERS ELIGIBLE FOR AN AD VALOREM TAX CREDIT FOR SUCH CONTRIBUTIONS;
1671 *HR31/R2214PH* ~ OFFICIAL ~ 23/HR31/R2214PH PAGE 47(BS\JAB)
TO AMEND SECTION 27-7-22.32, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES AN INCOME TAX CREDIT FOR EXPENSES INCURRED FOR THE ADOPTION OF A CHILD, TO INCREASE THE AMOUNT OF THE CREDIT AND TO DELETE THE REVERTER ON THE PROVISION OF LAW THAT INCREASES THE MAXIMUM AMOUNT OF THE TAX CREDIT FROM $2,500 TO $5,000 PER CHILD AND THE PROVISION THAT AUTHORIZES AN INCOME TAX CREDIT FOR A CHILD ADOPTED THROUGH THE MISSISSIPPI DEPARTMENT OF CHILD PROTECTION SERVICES;
TO AMEND SECTION 27-7-22.39, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES INCOME TAX CREDITS FOR VOLUNTARY CASH CONTRIBUTIONS TO QUALIFYING CHARITABLE ORGANIZATIONS AND QUALIFYING FOSTER CARE CHARITABLE ORGANIZATIONS, TO REVISE THE AMOUNT OF CREDIT THAT A TAXPAYER IS ALLOWED TO CLAIM FOR SUCH A VOLUNTARY CASH CONTRIBUTION;
TO BRING FORWARD SECTION 27-7-22.41, MISSISSIPPI CODE OF 1972, WHICH PROVIDES AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR CONTRIBUTIONS MADE BY CERTAIN TAXPAYERS TO CERTAIN ELIGIBLE CHARITABLE ORGANIZATIONS, FOR THE PURPOSES OF POSSIBLE AMENDMENT;
TO AUTHORIZE AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS BY TAXPAYERS TO ELIGIBLE TRANSITIONAL HOME ORGANIZATIONS;
TO LIMIT THE AMOUNT OF THE TAX CREDIT;
TO PROVIDE THAT UNUSED PORTIONS OF A TAX CREDIT MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDIT WAS EARNED;
TO PROVIDE THE CRITERIA THAT AN ELIGIBLE TRANSITIONAL HOME ORGANIZATION MUST MEET IN ORDER FOR A CONTRIBUTION TO THE ORGANIZATION TO QUALIFY FOR A TAX CREDIT AUTHORIZED BY THIS ACT;
TO AUTHORIZE AN INCOME TAX CREDIT, INSURANCE PREMIUM TAX CREDIT AND AD VALOREM TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS BY TAXPAYERS TO ELIGIBLE CHARITABLE ORGANIZATIONS;
TO LIMIT THE AMOUNT OF THE TAX CREDIT;
TO PROVIDE THAT UNUSED PORTIONS OF A TAX CREDIT MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDIT WAS EARNED;
TO PROVIDE THE CRITERIA THAT AN ELIGIBLE CHARITABLE ORGANIZATION MUST MEET IN ORDER FOR A CONTRIBUTION TO THE ORGANIZATION TO QUALIFY FOR A TAX CREDIT AUTHORIZED BY THIS ACT;
TO AUTHORIZE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS CLAIMING A FEDERAL INCOME TAX CREDIT FOR 23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 47 CERTAIN DEPENDENT CARE EXPENSES;
TO PROVIDE THE AMOUNT OF THE CREDIT;
AND FOR RELATED PURPOSES.
23/SS26/HB1671A.J *SS26/HB1671A.J* PAGE 48