1997 Regular Session
To: Ways and Means
By: Representative McBride
House Bill 877
AN ACT TO PROVIDE A CREDIT AGAINST STATE INCOME TAXES FOR CERTAIN DEPENDENT CHILD CARE PROVIDED BY THE TAXPAYER OR HIS OR HER SPOUSE FOR THEIR CHILDREN UNDER SEVEN YEARS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) A credit against the taxes imposed by this chapter shall be allowed in the amount provided in subsection (2) for any individual taxpayer:
(a) Who files a joint income tax return for the taxable year as the married head of a household;
(b) Who provides dependent child care in his or her home for one or more of the taxpayer's children or those of his or her spouse under the age of seven (7) years at the close of the taxable year, or whose spouse does so provide such care;
(c) Who does not participate in a dependent care assistance program as defined in Section 129 of the Internal Revenue Code; and
(d) Who has an annual gross income of less than Thirty Thousand Dollars ($30,000.00).
(2) The amount of the credit allowed in subsection (1) for expenses incurred for the care of each dependent child shall not exceed Seven Hundred Twenty Dollars ($720.00) per dependent child per taxable year.
(3) Only one (1) taxpayer shall be allowed to use the credit for each dependent child for whom the child care is provided by the taxpayer or his or her spouse.
SECTION 2. Section 1 of this act shall be codified as a separate Code section within Article 1, Chapter 7, Title 27, Mississippi Code of 1972.
SECTION 3. This act shall take effect and be in force from and after January 1, 1997.