Providing businesses with income, franchise, moneys and credits, and gross premiums tax credits for providing child care benefits to employees of the business, and including applicability date provisions

Where it is now

1. ✓
   Done: IntroducedJanuary 12, 2021
2. ✓
   Done: SubcommitteeJanuary 26, 2021
3. ✓
   Done: Senate committeeFebruary 2, 2021
4. ✕
   Stopped: Passes the SenateDied when the General Assembly ended
5. –
   Skipped: House committeeSkipped
6. ✓
   Done: Passes the HouseFebruary 10, 202188–6
7. Next: To the Governor
8. 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 businesses with income, franchise, moneys and credits, and gross premiums tax credits for providing child care benefits to employees of the business. The child care employee benefits include the following: building or rehabilitating an existing structure as a child care center for employee use, leasing a child care center, or paying the annual operating expenses of the child care center including training for the employees of the center. The amount of the credit equals percent of the costs to provide the benefit up to $150,000 per year. 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, 2022.

Full bill text¹

Senate subcommittee

Named January 26, 2021. It hasn’t reported yet.

• Sen. Dan Dawson REmail
• Sen. Tim Goodwin R
• Sen. Janet Petersen DEmail

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

Fiscal note

The new Employer Child Care Tax Credit created in the Bill is projected to reduce net General Fund revenue by the following amounts: • FY 2022 = $40,000 • FY 2023 = $800,000 • FY 2024 = $740,000 The General Fund revenue reduction is projected to continue in future fiscal years, increasing by the rate of inflation. Source Department of Revenue /s/ Holly M.

• Employer-Provided Child Care Facilities and Services, Tax Credit · February 8, 2021

Reading a fiscal note²

Family tree

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 2083 Providing businesses with income, franchise, moneys and credits, and gross premiums tax cr…
  88th General Assembly · Approved by committee · same title
  Cleared committee
• HF 2594 Providing businesses with income, franchise, moneys and credits, and gross premiums tax cr…
  88th General Assembly · In committee · same title
  Cleared committee

Matched by wording or an identical title.