Income tax; increase amount of credit for approved reforestation practices.

SB 2861 increases Mississippi's income tax credit for private landowners who plant eligible trees (pine or hardwood) using approved reforestation methods like seedling planting, mixed-stand regeneration, or direct seeding. It raises the annual credit limit to $20,000 per taxpayer (with a lifetime cap of $125,000) for costs related to these practices on nonindustrial private lands. Landowners must follow a written reforestation plan verified by a certified forester and cannot claim the credit if they received state/federal cost-share funds for the same work (unless their income is below federal earned income levels). The bill takes effect July 1, 2026, directly benefiting private forest landowners seeking tax savings for sustainable tree planting.