The bill introduces new education tax credits aimed at supporting child care facilities and offsetting child care costs for employees in Alaska. It amends existing tax credit provisions to include expenditures made to operate child care facilities for employees' children, contributions of cash or equipment to nonprofit-operated child care facilities, and payments made to employees to help cover their child care expenses. These changes apply to various tax credits, including those related to insurance, income, oil and gas production, property, mining, and fisheries.

Additionally, the bill mandates that starting January 1, 2030, and every five years thereafter, the Department of Labor and Workforce Development will adjust the dollar limits on these credits for inflation based on the Consumer Price Index for urban Alaska. The bill also retroactively applies to July 23, 2024, and modifies the effective date of certain sections from January 1, 2029, to January 1, 2028. Furthermore, several existing provisions related to tax credits are repealed to streamline the law.

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