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Committee reviews property-tax exemptions and income‑tax credits tied to child care costs
Summary
Senate Finance and Revenue received an informational briefing on tax incentives and direct programs related to child care, including two property‑tax exemptions, federal and state income‑tax credits, and how direct subsidies reduce the value of some tax credits.
The Senate Committee on Finance and Revenue held an informational session on tax incentives related to child care, reviewing property-tax exemptions, income-tax credits and direct expenditure programs and how those policies interact with out‑of‑pocket child care costs.
Beau Olin and Kyle Easton (Legislative Revenue Office) presented data showing substantial variation in child care prices by geography and provider type. For example, the presenters highlighted that infant care in high‑population counties can cost about $15,000 per year, while similar care in low‑population counties may cost roughly $7,500 per year. Center-based care and care for younger children tend to be more expensive than home-based…
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