Tax credits; authorize for business taxpayer contributions to certain charitable organizations.

HB 1655 would have allowed Mississippi businesses to claim tax credits for cash contributions to approved charitable organizations focused on Mississippi youth development. Businesses making qualifying contributions to 501(c)(3) organizations providing programs in education, physical development, social/emotional growth, and workforce development could deduct these contributions against income tax, insurance premium tax, and property tax. Credits were limited to 50% of the taxpayer's liability for those taxes, with a total annual cap of $250,000 across all businesses, and unused credits could be carried forward for up to five years. The bill died in committee on February 26, 2025, and was never enacted.