This bill introduces new education tax credits aimed at supporting child care and child care facilities in Alaska. It allows taxpayers to claim credits for expenditures made to operate child care facilities for their employees' children, contributions of cash or equipment to nonprofit-operated child care facilities, and payments made to employees to offset their child care costs. The bill also mandates that the Department of Labor and Workforce Development will adjust the dollar limits on these credits for inflation every five years, starting January 1, 2030.

Additionally, the bill amends the effective date of certain sections of previous legislation, changing it from January 1, 2029, to January 1, 2028. It also repeals several existing provisions related to education tax credits, streamlining the law to incorporate the new credits and adjustments. The act is retroactive to July 23, 2024, and takes effect immediately upon passage.

Statutes affected:
SB0096A, AM SB 96, introduced 02/12/2025: 21.96.070, 43.20.014, 43.55.019, 43.56.018, 43.65.018, 43.75.018, 43.77.045
SB0096Z, AM Enrolled SB 96, introduced 05/16/2025: 21.96.070, 43.20.014, 43.55.019, 43.56.018, 43.65.018, 43.75.018, 43.77.045