Mississippi Future Caucus Endorses HB 1550

CAPITOL – On Wednesday, Feb. 14, the Mississippi House of Representatives passed legislation to address the exodus of recent college graduates from the state of Mississippi, a problem that has come to be known as Mississippi’s “brain drain.” 

Under House Bill 1550, recent college graduates could file for a tax deduction within one year of graduating from a four-year college or university. Those graduates would be entitled to this deduction for up to three consecutive years if they remained a resident and employee in the state of Mississippi, and an additional two years if they purchased property in the state of Mississippi for residential or commercial use. 

“It is incredibly encouraging to see the Mississippi House of Representatives taking steps to reverse the evacuation of our best and brightest,” said Representative Jeramey Anderson, Co-Chairman of the Mississippi Future Caucus, a bipartisan caucus made up of legislators under the age of 40. “I hope the Senate will follow suit and show our young people that we will take care of them here is Mississippi.” 

The bill’s author, Representative Trey Lamar, is also a member of the Mississippi Future Caucus, which has heavily endorsed the legislation. 

The bill received bipartisan support and passed the House unanimously. It will now be sent to the Senate for consideration. 

Members of the Mississippi Future Caucus includes: 

• Democratic Co-Chairman Rep. Jeramey Anderson
• Republican Co-Chairman Rep. Roun McNeal
• Secretary Rep. Shane Barnett

Members: 

Rep. Joel Bomgar, Rep. Jarvis Dortch, Rep. Robert Foster, Rep. Lataisha Jackson, Rep. Chris Johnson, Rep. John Trey Lamar, Rep. Orlando Paden, Rep. Noah Sanford, Rep. Brad Touchstone, Sen. Jenifer Branning, Sen. Joel Carter Jr. 

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READ THE FULL LEGISLATION HERE