summary
Introduced
02/12/2025
02/12/2025
In Committee
05/16/2025
05/16/2025
Crossed Over
05/05/2025
05/05/2025
Passed
05/16/2025
05/16/2025
Dead
Introduced Session
34th Legislature
Bill Summary
An Act relating to education tax credits for certain payments and contributions for child care and child care facilities; relating to the insurance tax education credit, the income tax education credit, the oil or gas producer education credit, the property tax education credit, the mining business education credit, the fisheries business education credit, and the fisheries resource landing tax education credit; providing for an effective date by amending the effective date of secs. 1, 2, and 21, ch. 61, SLA 2014; and providing for an effective date.
AI Summary
This bill amends multiple Alaska state tax laws to provide additional tax credits for businesses that support child care for their employees. Specifically, the bill allows tax credits for three types of child care-related expenditures: (1) operating child care facilities for employees' children, (2) making cash or equipment contributions to nonprofit child care facilities attended by employees' children, and (3) providing direct payments to employees to offset their child care costs within the state. The bill applies to several types of taxes, including insurance, income, oil and gas production, property, mining, and fisheries taxes. Starting January 1, 2030, the Department of Labor and Workforce Development will adjust the dollar limits for these credits every five years based on the Consumer Price Index for urban Alaska. The bill is retroactively applied to July 23, 2024, and aims to provide financial incentives for businesses to support child care solutions for their employees, potentially making it easier for parents to work while ensuring their children are cared for. The legislation repeals some previous tax credit provisions and modifies the effective dates of certain earlier legislative sections.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Rules (S)
Last Action
AWAITING TRANSMITTAL TO GOV (on 05/24/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.akleg.gov/basis/Bill/Detail/34?Root=SB96 |
| BillText | https://www.akleg.gov/PDF/34/Bills/SB0096Z.PDF |
| BillText | https://www.akleg.gov/PDF/34/Bills/SB0096A.PDF |
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