SB 623

This bill creates an income and franchise tax credit for businesses that operate

a child care program for their employees' children. The credit is equal to the amount

of capital expenditures incurred in establishing an employee child care program, the

amount of certain organization and administration expenses incurred, and the

amount of contributions made to a charitable organization for the purpose of

establishing an employee child care program. The maximum total credit that may

be claimed in a taxable year based on those capital expenditures, organization and

administration expenses, and contributions is $100,000. A person may also claim as

a credit the amount of operating expenses of an employer child care program, the

amount of payments made directly to a child care program in the name of and for the

benefit of an employee, and the amount of certain administrative costs. The

maximum total credit that may be claimed in a taxable year based on those operating

expenses, direct payments, and administrative costs is $3,000 for each child of an

employee participating in the child care program. The credit under the bill is

refundable, which means that if the credit exceeds the claimant's tax liability, the

claimant will receive the difference as a refund check.