For the first time in years, state leaders have voted to increase the amount of tax credits available to Mississippians who donate to private schools.
The Children’s Promise Act program currently allows people to claim up to $18 million in tax credits in total. Under a bill headed to the governor, that state would instead allow people to claim up to $24 million in tax credits starting in 2027.
Since 2020, private schools and foster care organizations have been receiving money through the Children’s Promise Act, which gives donors dollar-for-dollar tax credits for up to 50% of the donor’s state tax liability.
House Ways and Means Chairman Trey Lamar, a Republican from Senatobia, originally touted the program as a way to give money to nonprofit organizations that care for foster children, but a provision to give tax credits to private-school donors was tucked into the bill when it was passed in 2019.
READ MORE: School choice dead in the Legislature, but private school tax credit bills alive
House Bill 1944, which passed the House and Senate this week, would change the buckets of money available to different organizations, giving private-school donors access to more tax credits.
Under current law, half of the program’s tax credits, up to $9 million, are earmarked for people and organizations that donate to foster care service organizations. The other $9 million in tax credits are available to donors to private or special purpose schools that have any students in the foster care system, students with chronic illnesses or disabilities or students who are eligible for free or reduced-price meals.
But if Gov. Tate Reeves signs HB 1944, one of the $9 million buckets would be entirely available to private-school donors because the legislation separates the schools in the second category and gives special purpose schools access to a new pot of tax credits up to $6 million.
That means next year, nonprofit foster care organizations would be eligible for $9 million, private schools would be eligible for $9 million and special purpose schools would be eligible for $6 million.
Though Lamar’s attempt to substantially increase the cap on the program failed this year — as it has in previous years — this is the first time money has been added to the program since 2022, in large part to advocates who have rallied against the program. Opponents say the program is an indirect way for the state to funnel tax dollars to private schools.
Hence then, the article about legislature votes to add 6m to private school tax credit program was published today ( ) and is available on Mississippi Today ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Legislature votes to add $6M to private school tax credit program )
Also on site :
- Iranian Foreign Minister spokesperson in exclusive interview discusses cause of the war and Iran’s stance
- Walmart’s 'Very Sturdy' $53 3-Piece Patio Set Is Perfect for Small-Space Entertaining
- AI success is a leadership test—and the 100 Best Companies lead the way