The proposed bill aims to update current statutes related to childcare subsidies and tax credits by introducing new provisions and removing outdated language. Specifically, it will insert new premium tax credits for insurers capped at 25% of qualified expenditures or $100,000, and income tax credits for small businesses and corporations with varying caps based on expenditures. Additionally, the bill establishes the Out-of-School Time Grant Program within the Department of Economic Security, appropriating $3 million from the General Fund for fiscal years 2026 through 2030. The bill also outlines application requirements, prohibits simultaneous claims of multiple credits, and allows a five-year carryforward for unused credits. Moreover, the bill will delete obsolete references to previous compliance standards and certain sections of existing law, such as 20-224.08 and 41-1970, which will be repealed after June 30, 2030. It mandates the Department of Insurance and Financial Institutions to adopt rules for administering the new provisions and requires annual reporting on the effectiveness of the childcare programs and credits. Overall, these updates are designed to modernize the legal framework, enhance access to childcare, and provide financial incentives for businesses and insurers while ensuring accountability and compliance.

Statutes affected:
Introduced Version: 20-224, 20-224.08, 41-1970, 43-222, 43-1080, 43-1166, 20-206, 9-951, 35-146, 35-147, 20-837, 20-1010, 20-1060, 9-952, 9-972, 20-1566, 20-224.01, 20-1097.07, 20-224.03, 20-224.04, 20-224.06, 20-224.07, 20-224.05, 20-416, 20-230, 35-190, 43-1079.01, 43-1088, 43-1089.04, 43-1167.01, 43-1175, 43-1072.02, 43-1074.02, 43-1075, 43-1076.01, 43-1077, 43-1078, 43-1083, 43-1083.02, 43-1162, 43-1164.03, 43-1183, 43-1073, 43-1082, 43-1085, 43-1086, 43-1089, 43-1089.01, 43-1089.02, 43-1089.03, 43-1164, 43-1165, 43-1181, 43-1074.01, 43-1168, 43-1170, 43-1178, 43-1073.01, 43-1081.01, 43-1083.03, 43-1084, 43-1164.04, 43-1164.05, 43-1184, 2025-2026, 20-244.08, 43-1130