MS HB1735

Increases the income tax credit for employers providing dependent care for employees during work hours from 50% to 75% of eligible expenses

Creates a new 75% tax credit for employers who provide child care stipends of at least $6,000 to employees for use during work hours

Requires employers claiming the child care stipend credit to certify employee names, stipend amounts, and child care provider information (including names, addresses, and taxpayer identification numbers) to the Department of Revenue

Allows unused tax credits to be carried forward for five successive years, but excess credits are not refundable after that period

Effective date of January 1, 2023