Bill > H3086

This bill establishes a Workplace Child Care program tax credit for business corporations in Massachusetts that provide affordable, on-site child care centers for their employees. The tax credit allows eligible corporations to receive a credit equal to 25 percent of their qualified child care expenditures, with a maximum credit of $500,000 per year. Qualified expenditures include costs for acquiring, constructing, or expanding child care facilities, operating costs, employee training, and compensation, or contracting with a qualified child care center. To be eligible, the child care center must be licensed by the Department of Early Education and Care, open to all employees, not discriminate in favor of highly compensated employees, and meet specific affordability criteria. The department will set guidelines for what constitutes affordable child care, considering factors like daily care rates and employee salaries. The tax credit can be used in the year the program is implemented and can be carried forward for up to five subsequent years if the credit exceeds the corporation's tax liability. This bill aims to encourage businesses to provide accessible and affordable child care options for their employees, potentially helping working parents balance professional and family responsibilities.

Budget and Finance

https://malegislature.gov/Bills/194/H3086