This bill aims to enhance education tax credits related to child care and child care facilities in Alaska. It introduces new provisions that allow taxpayers to claim credits for expenditures made to operate child care facilities for their employees' children, contributions to nonprofit-operated child care facilities, and payments made to employees to offset their child care costs. These provisions are added to various sections of the Alaska Statutes, including AS 21.96.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, and AS 43.77.045. Additionally, the bill mandates that starting January 1, 2030, the Department of Labor and Workforce Development will adjust the dollar limits on these credits for inflation every five years based on the Consumer Price Index for urban Alaska.

Furthermore, the bill includes a retroactivity clause, making it effective from July 23, 2024, and it amends the effective date of certain sections 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 child care-related credits. The overall goal of the bill is to support child care accessibility and affordability for employees in Alaska, thereby promoting workforce stability and economic growth.

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