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Committee advances revised employer childcare tax credit: 50% credit, $3,000 cap per child and $1M program cap
Summary
Senate Bill 2867's committee substitute creates a 50% income tax credit for employers who provide dependent care during work hours or a $2,000 per‑child stipend to a licensed provider, limits the credit to $3,000 per child annually and places a $1,000,000 cap on the program; the committee adopted the substitute by voice vote.
Senator Boyd explained a committee substitute to Senate Bill 2867 that reworks an earlier employer childcare tax credit the legislature passed roughly three years ago.
"It allows a 50% income tax credit, [to] an employer providing dependent care for employees during the employee's work hours and to any employer who provides child care stipend of at least…
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