Authorizes an income tax credit for contributions to rural hospitals in Mississippi.
The bill allows a tax credit for voluntary cash contributions made by taxpayers to rural hospitals in Mississippi. The credit is limited to the lesser of the contribution amount or the taxpayer's total tax liability for the year. Contributions cannot be used as deductions for state tax purposes. The Department of Revenue must allocate credits within 30 days of application. Unused credits can be carried forward for five years. The credit is not available after December 31, 2030.
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