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S. B. No. 2871 *SS08/R965* ~ OFFICIAL ~ R3/5
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To: Finance
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Senator(s) Boyd
SENATE BILL NO. 2871
AN ACT TO AMEND SECTION 27-7-22.37, MISSISSIPPI CODE OF 1972, 1
TO PROVIDE THAT QUALIFIED CONTRIBUTIONS TO PRESCHOOL OR 2
PREKINDERGARTEN PROGRAMS SERVING CHILDREN AT LEAST THREE YEARS OF 3
AGE ARE ELIGIBLE FOR THE INCOME TAX CREDIT APPLYING TO 4
PREKINDERGARTEN PROGRAM SUPPORT CONTRIBUTIONS; AND FOR RELATED 5
PURPOSES. 6
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 7
SECTION 1. Section 27-7-22.37, Mississippi Code of 1972, is 8
amended as follows: 9
27-7-22.37. (1) There shall be allowed as a credit against 10
the tax imposed by Section 27-7-5 the amount of the qualified 11
preschool or prekindergarten program support contributions paid to 12
approved providers, lead partners or collaboratives, not to exceed 13
One Million Dollars ($1,000,000.00), by any individual, 14
corporation or other entity having taxable income under the laws 15
of this state during calendar year 2013 or during any calendar 16
year thereafter. In order to qualify for a tax credit, such 17
contributions may support the local match requirement of approved 18
providers, lead partners or collaboratives as is necessary to 19
match state-appropriated funds, and any such providers, lead 20
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partners or collaboratives shall be approved by the State 21
Department of Education. 22
(2) Any unused portion of the credit may be carried forward 23
for three (3) tax years. 24
(3) Any preschool or prekindergarten program support 25
contribution shall be verified by submission to the Mississippi 26
Department of Revenue * * * by a copy of the receipt provided to 27
the donor taxpayer by the preschool or prekindergarten program 28
recipient or such other written verification as may be required by 29
the Department of Revenue. 30
(4) The maximum amount of donations accepted by the 31
Department of Revenue in calendar year 2014 shall not exceed Eight 32
Million Dollars ($8,000,000.00), in calendar year 2015 shall not 33
exceed Fifteen Million Dollars ($15,000,000.00), and in calendar 34
year 2016 and calendar years thereafter shall not exceed 35
Thirty-two Million Dollars ($32,000,000.00), or what is 36
appropriated by the Legislature to fund Chapter 493, Laws of 2013 37
each year. 38
(5) The Mississippi Department of Revenue shall promulgate 39
rules necessary to effectuate the purposes of Chapter 493, Laws of 40
2013. Such rules shall include a means of informing the public of 41
the existence of the preschool or prekindergarten support program 42
and the application process for provider, lead partner and 43
collaborative candidates. 44
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ST: Preschool and prekindergarten tax credit;
expand for contributions to programs serving
three-year-old children.
(6) During calendar year 2026 and every calendar year 45
thereafter, the credit authorized in this section shall apply to 46
qualified preschool or prekindergarten program support 47
contributions to public school programs for children at least 48
three (3) years of age. 49
SECTION 2. This act shall take effect and be in force from 50
and after January 1, 2026. 51