Bill > H3265

This bill establishes a pilot program providing tax credits to qualifying employers in Massachusetts who invest in childcare services for their employees. Specifically, businesses with their principal place of business in Massachusetts can receive a tax credit equal to 25% of their expenditures on licensed childcare services, with a maximum annual credit of $750,000. The bill requires the executive office of economic development to create a technical assistance plan to help corporations, especially smaller businesses with fewer than 1,000 employees, access the tax credit. Additionally, the office must conduct annual studies evaluating the program's impact, analyzing factors like industry sector, geographic region, employee numbers, and workforce effects. The program is funded up to $10,000,000 and will be subject to appropriation. The bill applies to both non-corporate and corporate employers, covering various types of licensed childcare services including centers, family childcare homes, group facilities, and school-aged programs. The tax credit aims to support employers in providing childcare benefits and potentially improve workforce participation by helping employees manage childcare responsibilities.

Budget and Finance

https://malegislature.gov/Bills/194/H3265