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Committee backs business child‑care tax credit aimed at adding seats, capping credits at $5M a year
Summary
HB 1433 would allow businesses to claim a tax credit equal to 50% of qualifying expenditures to create or expand child‑care seats (minimum 12 new seats), with an aggregate cap of $5 million per fiscal year and application processing on a first‑come, first‑served basis.
The Ways and Means Committee advanced House Bill 1433, a business tax‑credit proposal intended to expand child‑care supply by incentivizing employers to create or expand child‑care seats.
Representative Caitlyn Coutab said the credit equals 50% of qualifying expenditures for businesses that add at least 12 new child‑care seats after January 1, 2027. Qualifying costs include capital outlays (construction, renovation, acquisition) and two years of operational costs for new programs; credits may…
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