1997 Regular Session
To: Ways and Means
By: Representative Denny
House Bill 286
AN ACT TO PROVIDE A CREDIT AGAINST STATE INCOME TAXES FOR AN INDIVIDUAL TAXPAYER WHO PAYS HOME SECURITY EXPENSES FOR HIS PRIMARY RESIDENCE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) For any individual taxpayer who pays home security expenses for his primary residence, a credit against the taxes imposed by this chapter shall be allowed in the amount provided in subsection (2) of this section. "Home security expenses," for the purposes of this section, means any expenses incurred in providing or enhancing the security of the taxpayer's primary residence. Such expenses may include, but shall not be limited to: (a) the cost of installing and maintaining a home electronic or computerized alarm system; and/or (b) the cost of belonging to a homeowners' association which has as one (1) of its goals the enhancement of the security and safety of the neighborhood, or which has hired a professional security or law enforcement organization or business to deter the presence of crime and to police the neighborhood comprising the homeowners' association.
(2) Any individual taxpayer shall be allowed a credit against the taxes imposed by this chapter in the amount equal to the actual home security expenses incurred for each taxable year, not to exceed Two Thousand Dollars ($2,000.00) per taxable year.
SECTION 2. Section 1 of this act shall be codified as a separate Code section within Article 1, Chapter 7, Title 27, Mississippi Code of 1972.
SECTION 3. This act shall take effect and be in force from and after January 1, 1997.