Bill > SB455

This bill creates three new tax credit programs aimed at supporting child care in Missouri, each designed to provide financial incentives for different stakeholders. The first program, the "Child Care Contribution Tax Credit Act," allows taxpayers to claim a tax credit equal to 75% of their contribution to child care providers or intermediary organizations, with credits ranging from $100 to $200,000 per year. The second program, the "Employer-Provided Child Care Assistance Tax Credit Act," enables employers with two or more employees to claim a 30% tax credit for qualified child care expenditures, such as facility construction, operating costs, or employee child care benefits, with a maximum credit of $200,000 annually. The third program, the "Child Care Providers Tax Credit Act," permits child care providers with three or more employees to claim tax credits equal to their eligible employer withholding taxes and up to 30% of capital expenditures for facility improvements, also capped at $200,000 per year. All three programs target child care deserts (areas with limited child care access), have a total annual tax credit limit of $20 million, and are set to expire on December 31, 2031, unless reauthorized by the Missouri General Assembly. The programs aim to improve child care availability, quality, and affordability by providing financial incentives to businesses, employers, and child care providers.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=352