This bill introduces tax credits aimed at incentivizing businesses to provide on-site child care services and health care coverage for eligible employees. Specifically, it amends RSA 77-A:5 by adding new paragraphs that establish an "on-site child care services tax credit" and a "parent hours tax credit." The on-site child care services tax credit allows businesses to claim 20% of qualifying expenditures related to running child care services, with a cap of $100,000 per fiscal year. Additionally, businesses must meet specific criteria regarding the location of the child care facility and may roll over unused credits for up to four years. The bill also includes provisions for recapturing credits if a business closes its child care facility within three years of receiving the credit, with certain waivers available.

The "parent hours" tax credit allows businesses to claim 20% of the cost of health care benefits provided to eligible employees, capped at $10,000 per fiscal year per employee. An eligible employee is defined as one with at least one dependent whose working hours are entirely between 9:00 a.m. and 3:00 p.m. on weekdays. The bill is set to take effect on July 1, 2027. No fiscal note is currently available due to time constraints, but it is expected to be provided later.

Statutes affected:
Introduced: 77-A:5