Taxation; authorize income tax, insurance premium tax and ad valorem tax credit for contributions to student scholarship organizations.

HB 1904 authorizes tax credits for Mississippi business taxpayers who make voluntary cash contributions to designated student scholarship organizations. Businesses can claim credits against income tax, insurance premium tax, or ad valorem tax, limited to 50% of their total tax liability for the year, with unused credits carryable forward for five years. The bill defines "student scholarship organizations" as 501(c)(3) charities that allocate at least 90% of donations to scholarships for eligible students attending qualified nonpublic schools, while prohibiting funds from supporting abortions or direct beneficiary designations. This policy directly affects businesses making such donations and student scholarship organizations meeting specific accreditation and operational criteria.