Washington HB2187 establishes a tax credit for employers providing child care assistance to employees.

Washington HB2187 creates a tax credit for employers who support child care for their employees. This bill allows eligible employers to claim a credit equal to 50% of the amount paid to a registered child care provider or facility for employee dependents. Initially, only small businesses and those in child care consortiums can claim the credit, but eligibility expands in 2029. The credit is capped at $50,000 per employer per year and $5,000,000 statewide annually. The program aims to increase child care access and may be extended if it proves successful. The credit expires on January 1, 2032.

Washington HB2187 establishes a tax credit for employers providing child care assistance to employees.

Washington HB2187 creates a tax credit for employers who support child care for their employees. This bill allows eligible employers to claim a credit equal to 50% of the amount paid to a registered child care provider or facility for employee dependents. Initially, only small businesses and those in child care consortiums can claim the credit, but eligibility expands in 2029. The credit is capped at $50,000 per employer per year and $5,000,000 statewide annually. The program aims to increase child care access and may be extended if it proves successful. The credit expires on January 1, 2032.