MS HB213

Authorizes a $750 tax credit for taxpayers with income at or below 400% of federal poverty level who pay for dependent children under age 6 to attend qualified child care centers for at least 8 months per year.

Makes the child care expense credit refundable for taxpayers with income below 250% of federal poverty level, with unused credits carried forward for 5 years.

Provides refundable tax credits to qualified 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.

Authorizes refundable tax credits for child care center employees employed as teachers or directors 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 rules and regulations; act becomes effective January 1, 2022.