House Bill 1642
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DIGEST OF INTRODUCED BILL
Tax credit for employer child care expenses. Establishes a state tax credit for an employer that makes qualified child care expenditures, qualified child care resource and referral expenditures, or qualified child care planning expenditures on behalf of its employees. Provides that the maximum amount of the credit for each taxable year is the lesser of $20,000 or 40% of the employer's qualified expenditures. Provides that if the taxpayer shares qualified expenditures with one or more individuals or entities, the amount of the taxpayer's credit equals the taxpayer's percentage share of expenditures multiplied by the total credit amount calculated for all shared expenditures.
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| ||In Committee - first House|