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MS HB1921

Bill

Official Source

Status

Failed

3/27/2024

Primary Sponsor

Dana Underwood McLean

Click for details

Origin

House of Representatives

2024 Regular Session

AI Summary

  • Increases income tax credit for employers providing dependent care to employees from 50% to 75%
  • Applies credit to employers providing direct dependent care services or child care stipends of at least $6,000 to licensed entities in Mississippi
  • Employers claiming the child care stipend credit must certify to the Department of Revenue the employee names, stipend amounts, and licensed entity details
  • Credit applies to costs of dependent care staff, materials, facility construction/maintenance, and stipends; unused credits may be carried forward for 5 successive years
  • Takes effect January 1, 2024

Legislative Description

Income tax; increase credit allowed for employers providing dependent care/dependent care stipend for employees.

Last Action

Died In Committee

3/27/2024

Committee Referrals

Ways and Means3/21/2024

Full Bill Text

No bill text available