Bills › 89th 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, making appropriations, and including retroactive applicability date provisions
Where it is now
- Done: IntroducedFebruary 18, 2021
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committee
- 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 2022 session adjourned on May 24, 2022, 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. DIVISION I —— SMALL BUSINESS CHILD CARE TAX CREDIT. 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.
Read the full explanation
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. 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 division applies retroactively to tax years beginning on or after January 1, 2021. DIVISION II —— APPROPRIATIONS. The bill makes an appropriation from the taxpayer relief fund to the general fund of the state for fiscal year 2022 in the same amount as the amount of small business child care tax credits allowed in the bill for that fiscal year.
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Tried before
89th General Assembly
Earlier and later bills are matched by wording or an identical title.
Tried before
This idea has been filed in an earlier General Assembly. None got through a chamber.
- HF 2290 Providing small businesses with income, franchise, moneys and credits, and gross premiums …88th General Assembly · In committee · very similarCleared committee
Matched by wording or an identical title.