Income tax; authorize a credit for certain taxpayers that provide transitional housing for individuals released from incarceration.

HB 576 would create a $1,000 annual income tax credit for Mississippi businesses (like corporations, LLCs, or nonprofits) that provide transitional housing to people recently released from prison for misdemeanor or felony convictions. This credit is specifically for housing individuals who struggle to find stable housing after incarceration while they try to rebuild their lives. The credit is limited to the business’s total annual income tax bill, with unused credits carrying forward for up to five years. The bill defines "transitional housing" as temporary housing supporting those facing housing barriers post-release. (Note: The bill died in committee on February 26, 2025, and did not become law.)