This bill proposes the establishment of a tax credit for employer-provided child care expenses in Minnesota, codified under a new section, [290.0687] EMPLOYER-PROVIDED CHILD CARE CREDIT. The credit allows employers to receive a tax reduction based on a percentage of the credit allowed under section 45F of the Internal Revenue Code, specifically for qualified child care expenses incurred in Minnesota. Employers must apply for the credit through the commissioner of employment and economic development, who will issue allocation certificates verifying eligibility and the amount of credit. The bill also includes provisions for partnerships and S corporations, allowing credits to be passed through to partners or shareholders. Additionally, the bill outlines that if the credit exceeds the taxpayer's tax liability, the excess can be carried over to the next five taxable years. The allocation of credits will be on a first-come, first-served basis, with a cap on the total amount of credits issued each year. The effective date for this tax credit is set for taxable years beginning after December 31, 2026.