This bill repeals the law governing the employer-assisted day care income tax credit, which by its own terms does not apply to tax years beginning on or after January 1, 2016. The bill authorizes a refundable tax credit for an employer that pays or provides in-kind resources for child care for the children of its employees. The amount of the annual credit is 50% of the amount expended or $3,000 per child, whichever is lower.

Statutes affected:
Bill Text LD 1222, SP 503: 36.5217