S.0047

Increases tax credit for employers offering childcare programs for employees.

Amends the tax code to increase the maximum credit for employers who offer childcare programs for their employees. The credit is equal to fifty percent of the employer's capital expenditures in the state, up to a maximum of one hundred thousand million dollars. The credit applies to expenses incurred in establishing and operating a childcare program. The Department of Social Services determines eligibility for the credit. The credit is refundable and applies against other taxes. The credit is limited to three twelve thousand dollars per child per year.