Income tax; revise credit for employers providing dependent/child care for employees.

An Act To Amend Section 57-73-23, Mississippi Code Of 1972, Which Authorizes An Income Tax Credit For Employers Providing Dependent Care For Employees During Work Hours And For Employers That Provide A Child Care Stipend To Be Used For Child Care During Employees' Work Hours, To Reduce The Amount Of The Required Stipend And To Provide For The Stipend To Be For Direct Payments To A Licensed Or Registered Entity, Or Other Governmental, Or Accrediting Agency Or Entity Providing Dependent Child Care; To Provide That The Tax Credit Allowed May Not Exceed $3,000.00 Per Year For Each Child Of A Participating Employee; To Provide That In Lieu Of Claiming A Tax Credit, A Taxpayer May Elect To Claim A Rebate In The Amount Of 75% Of The Amount That Would Be Eligible To Claim As A Credit; To Provide That The Maximum Aggregate Amount Of Credits And Rebates That May Be Used By A Taxpayer In A Taxable Year Cannot Exceed $50,000.00; To Provide That The Maximum Aggregate Amount Of Tax Credits And Rebates That May Be Awarded Cannot Exceed $5,000,000.00 For Any One Taxable Year; And For Related Purposes.