Bill > A00833

This bill creates tax deductions for businesses that invest in child care facilities, offering financial incentives for companies to support employee childcare needs. Specifically, the bill provides two types of deductions: one for for-profit child care facilities and another for child care facilities primarily serving employees' children. For for-profit child care facilities, businesses can deduct expenses related to acquiring, constructing, renovating, or remodeling the facility over a 60-month period. For child care facilities serving employees' children, businesses can deduct similar expenses over a 24-month period. These deductions apply across multiple tax types, including corporation tax, franchise tax, personal income tax, and tax on banks. The deductions are designed to replace other depreciation allowances, encouraging businesses to invest in child care infrastructure by providing significant tax benefits. This legislation aims to support working parents by incentivizing employers to create or improve on-site or nearby child care options, potentially making workplaces more family-friendly and helping employees manage childcare challenges.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A833