SB 199: "An Act providing a tax credit to an employer for expenses related to child care for an employee; and relating to the child care facility revolving loan fund."
00 SENATE BILL NO. 199 01 "An Act providing a tax credit to an employer for expenses related to child care for an 02 employee; and relating to the child care facility revolving loan fund." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 43.98 is amended by adding a new section to article 3 to read: 05 Sec. 43.98.035. Employer's child care expenditure tax credit. (a) An 06 employer may apply a tax credit against a tax due under this title for expenditures 07 related to child care for an employee as provided in this section. For each calendar 08 year, the credit under this section may not exceed the lesser of $2,500 for each 09 employee for whom the employer makes an eligible child care expenditure or 50 10 percent of the eligible child care expenditure made by the employer for each employee 11 for whom the expenditure is made. 12 (b) The credit under this section may not reduce an employer's tax liability for 13 a tax imposed under this title to below zero for any tax year. An unused credit or 14 portion of a credit not used under this section for a calendar year may be carried
01 forward and applied in a subsequent calendar year. 02 (c) An eligible child care expenditure is an expenditure by the employer that is 03 related to 04 (1) child care for the child of an employee for the cost of 05 (A) child care that is provided by a person other than the 06 employer or employee; 07 (B) child care that is provided by a person designated by an 08 employee who is not the employer or an employee of the employer; 09 (C) a voucher for child care provided to an employee for the 10 child of the employee; 11 (2) a contract for providing child care resources and referral services 12 for an employee with a child. 13 (d) At the time an employer claims a credit under this section, the employer 14 shall provide a written statement 15 (1) identifying each employee for whom an eligible child care 16 expenditure is made; 17 (2) identifying each person receiving from the employer a payment 18 that the employer claims as an eligible child care expenditure; 19 (3) stating the amount of eligible child care expenditures the employer 20 paid for each employee for whom an eligible child care expenditure is made; 21 (4) containing other information required by the department. 22 (e) The department may adopt regulations necessary to administer the credit 23 provided by this section. 24 * Sec. 2. AS 44.33.255(a) is amended to read: 25 (a) A loan to a child care facility under AS 44.33.240 - 44.33.275 may not 26 exceed $100,000 [$50,000]. 27 * Sec. 3. AS 44.33.260 is amended by adding a new subsection to read: 28 (b) a child care facility may use the proceeds of a loan received under 29 AS 44.33.240 - 44.33.275 30 (1) to modify a publicly or privately owned building for the purpose of 31 providing child care;
01 (2) to modify an existing child care facility; 02 (3) to construct a new child care facility; 03 (4) for other purposes related to a child care facility identified in a 04 regulation adopted by the department.