Bill > S1837

This bill establishes a child care contribution tax credit for employers subject to either the Corporation Business Tax (CBT) or the Gross Income Tax (GIT) in New Jersey, offering a credit of 50% of eligible child care expenses for their employees' children, up to a maximum of $100,000 per taxpayer annually. These eligible expenses include costs associated with acquiring, constructing, or improving property for a qualified child care center, maintaining an on-site center, paying a third party for child care services, or subsidizing employee child care costs. A "qualified child care center" is defined as a facility licensed by the state that primarily serves children of employees and is not primarily used for other purposes, with enrollment open to all eligible employees without discriminatory practices. The total value of all credits claimed under this bill is capped at $10 million per year, and businesses must apply to the commissioner and enter into an agreement with the Director of the Division of Taxation to claim the credit, with provisions for repayment and interest if the child care facility is not maintained as required. The bill also allows for the transfer of these tax credits to other entities for at least 75% of their value, and mandates an annual evaluation and report on the program's impact.

Budget and Finance, Business and Industry

https://www.njleg.state.nj.us/bill-search/2026/S1837