Bill
Bill > H2449
MA H2449
Providing tax credits to certain employers that provide affordable, on-site child-care for employees
summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to providing tax credits to certain employers that provide on-site child-care for employees. Revenue.
AI Summary
This bill establishes a child care program tax credit for business corporations in Massachusetts that provide an affordable, on-site child care center licensed by the Department of Early Education and Care for use by their employees. The credit is equal to 25% of the qualified child care expenditures associated with implementing the program, with a maximum credit of $150,000 per business corporation in any one taxable year. The Department of Early Education and Care will determine the criteria for eligibility, including restrictions on the costs a business corporation can charge employees for participation in the child care program. The credit can be carried over and applied against the taxpayer's tax liability for up to 5 succeeding taxable years.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Accompanied a study order, see H5031 (on 11/04/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2449 |
| Bill | https://malegislature.gov/Bills/191/H2449.pdf |
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