Bill > S2019

This bill introduces a new tax credit specifically designed to support family child care providers in Massachusetts. The bill amends Chapter 62 of the General Laws by adding a new section that allows family child care providers to claim a tax credit of $3,300, which will be adjusted annually based on the consumer price index. This means the credit's value will increase over time to keep pace with inflation. Importantly, if a provider's tax credit exceeds their tax liability in a given year, they can carry forward the unused portion of the credit and apply it to their taxes in up to three subsequent years. The bill defines "Family child care provider" and "Family child care services" by referencing existing language in Section 17 of Chapter 15D of the General Laws, ensuring consistency with current legal definitions. The purpose of this legislation appears to be supporting the sustainability of the family childcare sector by providing financial relief through a targeted tax credit mechanism.