MS HB1557

Allows taxpayers maintaining, supporting and caring for a dependent with a developmental disability in their home to claim an income tax credit of up to $500 per taxable year.

Defines "developmental disability" as conditions including intellectual disability, cerebral palsy, epilepsy, spina bifida, Down syndrome, autism, or related conditions that originate before age 22 and constitute a substantial handicap requiring ongoing support services.

Requires certification from a licensed physician or licensed psychologist that the dependent has a developmental disability diagnosis, with certification valid for five taxable years and subject to recertification thereafter.

Applies the credit against state income tax liability, limited to the lesser of $500 or the taxpayer's remaining tax liability after all other allowable credits.

Takes effect January 1, 2014.