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Senate debates tax credit to spur business support for child-care centers; bill circled for more work
Summary
Senate Bill 73, which would create a corporate income tax credit (up to $10,000) for contributions to licensed day care centers, generated debate over a fiscal estimate (about $500,000), valuation rules for donated goods and a possible 'double-dip' with charitable deductions; sponsors moved to circle the bill for further review.
Senate Bill 73, introduced by Senator Blackcomb, would create a corporate franchise tax credit of up to $10,000 for businesses that contribute property, equipment or funds to licensed day care centers. On Jan. 25 senators debated the bill's intent — to encourage business involvement in childcare — and raised practical concerns about valuation,…
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