Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances childcare tax credit amendment aiming to add seats and training with $5M cap
Summary
The committee amended HB 14 33 to create a childcare tax credit (50% of qualifying expenditures) intended to fund new seats or workforce development, with an aggregate cap of $5 million per fiscal year and a 12-seat minimum per qualifying project; the committee approved OTPA 16–0 with the sponsor to prepare final drafting.
Representative Mary Murphy presented an amendment to HB 14 33 that would allow eligible businesses to claim a credit equal to 50% of qualifying childcare expenditures (against BPT or BET liability), limited to 50% of a business's qualifying spend for the first two years, with a carry-forward for four successive years. The aggregate annual cap for credits across all taxpayers was set at $5,000,000;…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
