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Senate Bill 0458


 

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Senate Bill 0458

ARCHIVE (2003)

Latest Information

 
DIGEST OF INTRODUCED BILL

Child care tax incentives for employers. Provides a state tax liability credit for an employer that provides a qualified child care facility at the employer's worksite for use by employees. Provides that the maximum amount of the credit is the lesser of: (1) 15% of the employer's expenses for capital improvements or compensation paid to new child care workers at the qualified facility; or (2) $20,000. Provides a five-year deduction from the assessed value of a qualified facility that has been expanded, renovated, or rehabilitated in an amount equal to the increase in assessed value resulting from the improvements. Provides a five-year deduction from the assessed value of a newly constructed qualified facility in amount equal to 50% of the total assessed value of the new facility.
    Current Status:
     In Committee - first House
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