The proposed bill would update current statutes by introducing new provisions related to tax credits for qualified childcare expenditures and establishing an Out-of-School Time Grant Program. Specifically, it would insert new sections 20-224.08 and 41-1970 to create premium tax credits for insurers and income tax credits for small businesses and corporations, with specific caps and application requirements. Additionally, the bill would allocate $3 million annually from the General Fund for the grant program aimed at expanding childcare options for children aged 5 to 12 during non-school hours. The bill also includes provisions for monitoring compliance and success metrics, while ensuring that these initiatives are temporary by including a repeal clause effective July 1, 2030. In contrast, the bill would delete existing sections 20-224.08 and 41-1970 that are deemed obsolete, streamlining the legal text and preventing duplication of benefits. It also modifies existing provisions related to premium tax credits to ensure clarity and efficiency in claiming these credits. Overall, the updates reflect a commitment to modernizing the legal framework governing childcare and insurance, enhancing accessibility and support for working families while removing outdated references.

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