MS HB1768

Authorizes an income tax credit for taxpayers who provide paid maternity and paternity leave to employees, effective January 1, 2024.

Requires written policies providing 6-12 weeks of annual paid leave for full-time employees and proportionate amounts for part-time employees, with minimum 50% wage replacement.

Tax credit ranges from 12.5% to 25% of wages paid during maternity or paternity leave (up to 12 weeks per year), increasing 0.25% for each percentage point above 50% wage replacement.

Limits aggregate tax credits per taxpayer to the tax liability for that year (minus other allowable credits), and caps total statewide credits allocated annually at $5,000,000.