MS HB1617

Authorizes income tax credit of $750 per dependent child for taxpayers whose family income does not exceed 400% of federal poverty level if child attends a qualified child care center for at least 8 months and is under age 6.

Provides refundable credit for taxpayers with family income below 250% of federal poverty level; unused credits may be carried forward for 5 consecutive years.

Authorizes refundable tax credit for qualified child care centers: $500 per average monthly child (max $15,000) for standard centers and $750 per average monthly child (max $20,000) for comprehensive centers.

Authorizes refundable tax credit of $750 for teachers/directors at standard child care centers and $1,000 for those at comprehensive centers, requiring more than 9 months employment.

Authorizes non-refundable tax credit for donations to qualified child care centers, limited to lesser of amount donated or $5,000, with 5-year carryforward provision; effective January 1, 2017.