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MS HB907
Bill
Status
Failed
2/26/2025
Primary Sponsor
Dana Underwood McLean
Click for details
AI Summary
- Increases the income tax credit for employers providing dependent care or child care stipends from 50% to 75%
- Applies to employers providing on-site dependent care during work hours and those providing child care stipends of at least $6,000 annually to licensed or registered child care entities in Mississippi
- Requires employers providing stipends to certify to the Department of Revenue the employee names, stipend amounts, and child care provider information including federal ID and license numbers
- Allows credits to be carried forward for five successive years if the credit exceeds tax liability in a given year, with excess amounts not refundable thereafter
- Effective January 1, 2025
Legislative Description
Income tax; increase credit allowed for employers providing dependent care/child care stipend for employees.
Last Action
Died In Committee
2/26/2025
Committee Referrals
Ways and Means1/17/2025
Full Bill Text
No bill text available