Alaska SB96 amends tax credits to include child care costs and facilities for employees.

The bill modifies Alaska's tax credits to include payments and contributions for child care costs and facilities for employees. It specifies that these credits apply to expenditures for operating child care facilities and contributions to nonprofit facilities attended by employees' children. The bill also mandates inflation adjustments to the dollar limits on these credits starting in 2030, using the Consumer Price Index for urban Alaska. The changes are retroactive to July 23, 2024.

Alaska SB96 amends tax credits to include child care costs and facilities for employees.

The bill modifies Alaska's tax credits to include payments and contributions for child care costs and facilities for employees. It specifies that these credits apply to expenditures for operating child care facilities and contributions to nonprofit facilities attended by employees' children. The bill also mandates inflation adjustments to the dollar limits on these credits starting in 2030, using the Consumer Price Index for urban Alaska. The changes are retroactive to July 23, 2024.