MS SB2223

Allows taxpayers an income tax credit equal to child care expenses paid to prekindergarten providers participating in the Early Learning Collaborative Act of 2013.

Defines eligible prekindergarten providers as public, private, or parochial schools, licensed child care centers, or Head Start Centers serving four-year-old children in voluntary prekindergarten programs.

Provides prekindergarten providers a tax credit of $1,500 multiplied by the average monthly number of children attending their prekindergarten program.

Allows unused tax credits claimed in a taxable year to be refunded to taxpayers as overpayments from current tax collections.

Effective January 1, 2016.