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MS HB867
Bill
Status
2/21/2018
Primary Sponsor
Jarvis Dortch
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AI Summary
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Authorizes a $750 tax credit per dependent child for taxpayers with income not exceeding 400% of federal poverty level who pay for child care at qualified standard or comprehensive child care centers for at least 8 months.
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Makes the child care expense credit refundable for taxpayers earning less than 250% of federal poverty level, with unused credits carried forward for 5 years.
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Provides refundable tax credits for qualified child care center operators: $500 per average monthly child (up to $15,000) for standard centers and $750 per average monthly child (up to $20,000) for comprehensive centers.
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Authorizes refundable tax credits of $750 for teachers or directors at standard child care centers and $1,000 for those at comprehensive centers, requiring more than 9 months of employment.
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Allows a tax credit of up to $5,000 for taxpayers who donate funds to qualified child care centers, with unused credits carried forward for 5 years.
Legislative Description
Income tax; authorize credit for certain child care expenses, child care centers and child care teachers and directors.
Last Action
Died In Committee
2/21/2018