Mississippi SB2851 revises the definition of "eligible charitable organization" for income tax credit purposes.
Mississippi SB2851 amends the definition of "eligible charitable organization" for income tax credit purposes. It includes 501(c)(3) organizations that either provide health care services to low-income residents or raise funds for qualified tuition programs for children of Mississippi county sheriff's or municipal police department employees. The bill outlines procedures for tax credit allocation, certification, and limitations, including a cap on annual tax credits. Contributions for which credits are claimed cannot be used as deductions for state income tax purposes.
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