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MS HB343

Bill

Official Source

Status

Passed

4/6/2026

Primary Sponsor

John Lamar

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Employers with fewer than 50 employees can claim an income tax credit of up to $400 per covered employee in the first year they offer an Individual Coverage Health Reimbursement Arrangement (ICHRA) instead of traditional employer-provided health insurance
  • The credit drops to $200 per covered employee in the second year the employer continues offering an ICHRA
  • Total tax credits under this program are capped at $1,000,000 per fiscal year, with claims approved in chronological order of filing
  • Unused credits may be carried forward for 10 years, and employers must report to the Department of Revenue every 3 years on whether they continued the ICHRA and the level of benefits provided
  • Takes effect January 1, 2026

Legislative Description

Income tax; authorize credit for certain employers providing individual coverage health reimbursement arrangement (ICHRA) to employees.

Last Action

Approved by Governor

4/6/2026

Committee Referrals

Finance3/4/2026
Ways and Means1/8/2026

Full Bill Text

No bill text available