HB723

Increases income tax credit for employers providing dependent care or child care stipends to employees.

Mississippi HB723 amends Section 57-73-23 of the Mississippi Code of 1972 to increase the income tax credit for employers who provide dependent care for employees during work hours or a child care stipend of at least $6,000 to a licensed or registered entity for child care. Eligible employers must serve children, elderly adults, or dependents with disabilities. The credit applies to expenses of dependent care staff, learning materials, facility construction, and maintenance.