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MS HB723
Bill
Status
Failed
2/25/2026
Primary Sponsor
Dana Underwood McLean
Click for details
AI Summary
- Increases the income tax credit for employers providing dependent care during work hours from 50% to 75% of eligible expenses
- Applies to employers who contract with licensed childcare providers, operate their own dependent care facilities, or provide childcare stipends of at least $6,000 per employee
- Requires employers claiming the stipend credit to certify employee names, stipend amounts, and the licensed childcare entity's federal ID and license numbers to the Department of Revenue
- Covers care for children 12 and under, teens up to 18, elderly adult relatives, and dependents with physical, emotional, or mental disabilities
- Unused credits may be carried forward for five successive years but are not refundable; effective January 1, 2026
Legislative Description
Income tax; increase credit allowed for employers providing dependent care/child care for employees.
Last Action
Died In Committee
2/25/2026
Committee Referrals
Ways and Means1/15/2026
Full Bill Text
No bill text available