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, for tax years beginning on or after January 1, 2026, 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. The bill also provides that the credit is subject to ongoing legislative review.

Statutes affected:
Bill Text LD 203, SP 90: 36.5217