Bill > S00968

This bill establishes a Child Care Program Capital Improvement Tax Credit Program in New York to provide financial support to child care providers for enhancing, expanding, and improving access to quality child care. Under the program, eligible child care facilities licensed by the Office of Children and Family Services can receive a tax credit equal to 50% of their qualifying capital improvement costs, with a minimum credit of $1,000 and a maximum of $50,000 per business entity. To be eligible, child care programs must have at least $2,000 in qualifying improvement costs, be in substantial compliance with health regulations, and not have outstanding tax debts. Providers must apply through an annual process, agreeing to allow tax information sharing and provide access to their records. The program has a total tax credit cap of $250 million, and credits can be used against corporate and personal income taxes. The bill requires participating businesses to maintain records for three years and mandates quarterly reporting by the Office of Children and Family Services to track the program's implementation and impact. The tax credit is designed to support child care providers in making critical infrastructure and safety improvements, ultimately aiming to increase the availability and quality of child care services in New York.

Education

https://www.nysenate.gov/legislation/bills/2025/S968