BOSTON — Advocates of a bill that would create paid sick days in Massachusetts are saying the proposal will save millions of dollars annually for businesses and taxpayers.

Members of the Massachusetts Paid Leave Coalition and state lawmakers gathered at the state Capitol Monday to announce the findings of a study by the Institute for Women’s Policy Research that assert the bill will save nearly $74 million each year.

The legislation would require most Massachusetts businesses to allow employees to accrue paid sick time to care for themselves or family members. The number of the hours employees gain would vary based on business size.

According to the report, savings will come from decreased emergency room visits, employee turnover reduction and increased productivity.

Despite this, opponents have argued the bill will hurt businesses.