Bill > A04511

This bill creates a deduction from the franchise tax, personal income tax, corporation tax, and tax on banks for costs incurred in acquiring or improving a child care facility. The deduction is available to taxpayers who operate a child care facility primarily for the children of their own employees, as well as to taxpayers who operate a child care facility for profit. The deduction is to be taken over a 24-month or 60-month period, depending on the type of facility, and is in lieu of any other allowance for the exhaustion or obsolescence of the property used in the child care business.