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Senate backs employer childcare tax credit with $1 million statewide cap
Summary
The Senate approved changes to Mississippi's employer childcare tax credit, requiring at least $2,000 per-child employer contributions, capping the credit at $3,000 per child and limiting annual statewide credits to $1 million; sponsors said the credit is structured to flow to licensed providers and be administered by the Department of Revenue.
The Mississippi Senate on the finance calendar adopted and passed a committee substitute that revises the employer childcare tax credit to encourage direct employer payments to licensed childcare providers.
Senator Boyd, explaining the measure, said the bill narrows eligibility to "actual employer expenditures" paid to licensed, registered providers and requires employers to make at least a $2,000 per-child direct stipend for a stipend to qualify. Boyd told the Senate the…
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