Bills › 88th General Assembly
Providing small businesses with income, franchise, moneys and credits, and gross premiums tax credits for providing child care benefits to employees of the small business, and including applicability date provisions
Where it is now
- Done: IntroducedFebruary 7, 2020
- Done: SubcommitteeFebruary 10, 2020
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill provides small businesses with income, franchise, moneys and credits, and gross premiums tax credits for providing child care benefits to employees of the small business. The bill defines “small business” to mean any enterprise which is located in this state, which is operated for profit and under a single management, and which has either fewer than employees or an annual gross income of less than $4 million computed as the average of the three preceding fiscal years. The child care employee benefits include the following: building or rehabilitating an existing structure at or near the small business as a child care center for employee use, or operating or leasing a child care center for children of employees to attend at or near the small business.
Read the full explanation
The amount of the credit equals the costs to provide the benefit up to $3,000 per employee per year. The aggregate amount of tax credits authorized pursuant to the bill shall not exceed a total of $2 million per fiscal year, and shall be awarded on a first-come, first-served basis. The credit is nonrefundable but any excess may be carried forward for up to five tax years. The bill applies to tax years beginning on or after January 1, 2021.
House subcommittee
Named February 10, 2020. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Family tree
88th General Assembly
Picked up later
Earlier and later bills are matched by wording or an identical title.
Similar bills
- HF 617 Providing small businesses with income, franchise, moneys and credits, and gross premiums …89th General Assembly · In committeeVery similar
Matched by wording or an identical title.