SB2988 - Income tax; authorize credits for donations to Habitat for Humanity Mississippi Capital Area.

1 Co-Sponsor

An Act To Create A New Section In Title 27, Chapter 7, Mississippi Code Of 1972, To Authorize An Income Tax Credit For Voluntary Cash Contributions By Individuals To Habitat For Humanity Mississippi Capital Area; To Limit The Amount Of The Credit; To Allow Excess Amounts Of The Credit To Be Carried Forward For Five Consecutive Years; To Provide That The Credit Authorized By This Act Is In Lieu Of Charitable Deductions Taken Under The Internal Revenue Code And Utilized For State Tax Purposes; To Create A New Section In Title 27, Chapter 7, Mississippi Code Of 1972, To Authorize An Income Tax Credit For Voluntary Cash Contributions By Business Enterprises To Habitat For Humanity Mississippi Capital Area; To Limit The Amount Of The Credit; To Allow Excess Amounts Of The Credit To Be Carried Forward For Five Consecutive Years; To Provide That The Credit Authorized By This Act Is In Lieu Of Charitable Deductions Taken Under The Internal Revenue Code And Utilized For State Tax Purposes; And For Related Purposes.