Bill > HB723

This bill increases the income tax credit available to Mississippi employers who provide dependent care, such as child care, for their employees during work hours, or who offer a child care stipend of at least $6,000 to a licensed or registered child care provider for their employees' children. Specifically, the credit is raised from fifty percent (50%) to seventy-five percent (75%) of the employer's eligible expenses, which can include the net cost of contracts for dependent care services, expenses for on-site care facilities and staff, or the amount of the stipend provided. Employers must certify to the Department of Revenue the details of the employees, stipends, and the licensed care providers receiving the funds to qualify for this credit, which can be carried forward for five years if it exceeds the tax liability in a given year. This legislation is set to take effect on January 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0723.xml