House seeks college graduate tax breaks, but could be costly

JACKSON, Miss. (AP) – Mississippi lawmakers are renewing a push for tax breaks for college graduates who stay in or move to the state.

House Bill 816 aims to stem Mississippi’s declining population and entice high-income earners. It passed 111-2 Wednesday, moving to the Senate for more debate.

College or professional school graduates could sign up to get state income tax payments back, if they stayed in Mississippi for five years.

Anyone who met the basic requirement would get half of their income tax payments back. Anyone who bought real estate or started a business employing at least one other person would get all income tax rebated.

The measure’s sponsor isn’t estimating how much it will cost, but Associated Press calculations show it could cost more than $20 million a year if widely adopted.

(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)