Bill > HB1433

This bill creates a child care tax credit program for businesses in New Hampshire that create or expand child care services, designed to address the shortage of child care options for working parents. Specifically, businesses can receive a tax credit equal to 50 percent of their expenditures for acquiring, constructing, renovating, or expanding child care facilities, as well as operational expenses for the first two years of a new facility. To qualify, businesses must create or expand child care seats on or after January 1, 2027, through direct operation or a third-party contract, and must apply to the Department of Revenue Administration. The tax credit can be applied against business profits taxes or business enterprise taxes, with unused credits able to be carried forward for up to four successive years. The bill defines key terms such as "creates child care" (making new child care seats available) and "operational expenditures" (including employee compensation, training, utilities, and rent), and requires the Department of Revenue Administration to develop rules for implementing the program, including application procedures and verification of eligible expenses. The tax credit program aims to stimulate the creation and expansion of child care opportunities by providing a financial incentive to businesses, with the goal of supporting working parents and addressing the child care shortage in the state.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1477&inflect=2