MS HB1104

Allows taxpayers with income up to 400% of federal poverty level a $750 tax credit per dependent child for child care expenses at qualified standard or comprehensive child care centers, with the child attending for at least 8 months and being under age 6.

Provides refundable credit to taxpayers earning below 250% of federal poverty level, with unused credits carried forward for up to 5 years.

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

Provides refundable tax credits for teachers and directors employed at qualified child care centers for more than 9 months: $750 for standard centers and $1,000 for comprehensive centers.

Directs the Department of Revenue to implement and administer the credits through rulemaking, effective January 1, 2021.