MS HB96

Authorizes income tax credit of $750 per dependent child for taxpayers with income not exceeding 400% of federal poverty level whose child attended a qualified child care center for at least 8 months.

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.

Provides refundable tax credits to qualified child care centers: $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.

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

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