House Bill 47

AN ACT TO PROVIDE AN INCOME TAX CREDIT FOR PARENTS, GUARDIANS AND CUSTODIANS WHO HOME SCHOOL THEIR CHILDREN; TO PROVIDE CERTAIN CONDITIONS UNDER WHICH A PERSON IS NOT ENTITLED TO RECEIVE A TAX CREDIT; TO PROVIDE THAT A PERSON MUST PROVIDE THE STATE TAX COMMISSION WITH CERTAIN INFORMATION IN ORDER TO RECEIVE THE TAX CREDIT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) As used in this section, the term "home school student" means a compulsory-school-age child taught by private teachers, parents, guardians or custodians in a legitimate home instruction program as defined under the Mississippi Compulsory School Attendance Law (Section 37-13-91).

(2) For a parent, guardian or custodian of a home school student, a credit against the taxes imposed under this chapter shall be allowed in the amount provided in this section. A parent, guardian or custodian of a home school student may claim a credit in an amount equal to the base student cost (as determined in Section 37-151-7) for each home school student. However, the maximum aggregate income tax credit that may be claimed by a parent, guardian or custodian for a taxable year shall not exceed the amount of income tax imposed upon the parent, guardian or custodian for the taxable year reduced by the sum of all other credits allowable to such taxpayer under this chapter, except credit for tax payments made by or on behalf of the taxpayer. A parent, guardian or custodian is not entitled to the credit provided in this section for a home school student that is enrolled as a student in a public school in this state at any time during the taxable year for which the credit is claimed. In the case of married individuals filing separate returns, each person may claim an amount not to exceed one-half (1/2) of the tax credit that would have been allowed for a joint return.

(3) If a parent, guardian or custodian desires to qualify for the tax credit provided in this section, the person must provide the State Tax Commission with the following information:

(a) The number of home school students for which a credit is claimed;

(b) A statement of the parent, guardian or custodian acknowledging that no home school student for which a credit is claimed was enrolled as a student in a public school in this state at any time during the taxable year for which the credit is claimed; and

(c) Documentation provided by the State Department of Education indicating the base student cost for the taxable year for which the tax credit is claimed.

SECTION 2. Section 1 of this act shall be codified as a separate code section in Chapter 7, Title 27, Mississippi Code of 1972.

SECTION 3. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the income tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the income tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.

SECTION 4. This act shall take effect and be in force from and after January 1, 2002.