Preschool and prekindergarten tax credit; expand for contributions to programs serving three-year-old children.

SB 2871 expands Mississippi's existing tax credit program to allow individuals and businesses to claim a credit for donations to preschool and prekindergarten programs serving children who are at least three years old. The credit applies to contributions made to approved providers, lead partners, or collaboratives (including public school programs), with annual funding limits capped at $32 million after 2016. Donors must submit receipts to the Mississippi Department of Revenue for verification, and unused credits can be carried forward for up to three years. The bill takes effect January 1, 2026, directly affecting taxpayers making qualifying contributions to eligible early childhood education programs.