MS HB53

Authorizes a $750 tax credit for taxpayers whose income does not exceed 400% of the federal poverty level for child care expenses at qualified child care centers, with a refund available if income is below 250% of poverty level.

Provides a refundable tax credit 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.

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

Allows a non-refundable tax credit up to $5,000 for donations to qualified child care centers, with unused credits carried forward for five years.

Takes effect January 1, 2019, and applies only to child care centers qualified under the Mississippi Department of Human Services voluntary child care program.