Bill > H3197

This bill proposes to create a new tax credit for family child care providers in Massachusetts. Specifically, the bill would allow family child care providers to claim a tax credit of $3,300, which will be annually adjusted for inflation based on the consumer price index. The credit can be carried forward and applied to tax liability for up to three subsequent years if the full credit amount exceeds the provider's tax due in a given year. The bill references existing definitions of "Family child care provider" and "Family child care services" from another section of Massachusetts law, ensuring consistency with current legal terminology. By offering this financial incentive, the bill aims to support and potentially stabilize the family child care sector by providing tax relief to providers, which could help offset the costs of running a home-based child care business and potentially make such businesses more economically viable.

Budget and Finance

https://malegislature.gov/Bills/194/H3197