MS HB505

Creates a state income tax credit for employers who offer at least 6 weeks of paid maternity and paternity leave annually to full-time employees, with proportional leave for part-time employees

Requires employers to pay at least 50% of normal wages during leave to qualify for the credit

Tax credit ranges from 12.5% to 25% of wages paid during leave (up to 12 weeks per year), with the percentage increasing as wage replacement exceeds 50%

Unused tax credits may be carried forward for 5 consecutive years

Effective date of January 1, 2023