Bill > A02392

This bill establishes a Child Care Program Capital Improvement Tax Credit Program to support and improve child care facilities in New York State. Under this program, eligible child care providers can receive a tax credit equal to 50% of their qualified capital improvement costs, with a minimum credit of $1,000 and a maximum of $50,000 per business entity. To qualify, child care programs must have a valid state license, incur at least $2,000 in qualifying improvement costs, be in substantial compliance with health regulations, and not have outstanding tax debts. The program will issue certificates of tax credit to approved providers, which can be used to offset taxes in the year the certificate is issued. The total amount of tax credits available is capped at $250 million, and the Office of Children and Family Services will oversee the application process, verify eligibility, and monitor compliance. Eligible improvements include expansion projects, building construction and retrofits, air purification equipment installation, and other costs determined by the office to enhance child care facility quality and safety. The bill aims to increase access to quality child care by providing financial incentives for providers to invest in their facilities.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A2392