SB 103: "An Act providing an income tax credit for certain taxpayers who provide child care for their employee's minor children; and providing for an effective date."
00SENATE BILL NO. 103 01 "An Act providing an income tax credit for certain taxpayers who provide child 02 care for their employee's minor children; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 43.20 is amended by adding a new section to article 1 to read: 05 Sec. 43.20.044. CHILD CARE TAX CREDIT. A taxpayer may apply as a 06 credit against the taxpayer's tax liability for a taxable year an amount that does not 07 exceed $100,000 and that is equal to the costs paid by the taxpayer during the tax year 08 to build, remodel, maintain, or operate a child care facility operated by the taxpayer 09 to care for the minor children of the taxpayer's employees. If a taxpayer claims a tax 10 credit under this section, the taxpayer may not use the same costs on which the credit 11 was based to claim a credit under another provision of this title. A taxpayer may 12 claim a tax credit under this section only one time. In this section, "child care facility" 13 means a place that is licensed under AS 47.35 and where child care is provided 14 regularly for minor children for periods of time that are less than 24 hours in
01 duration. 02 * Sec. 2. This Act applies to taxable years that begin on or after January 1, 1996. 03 * Sec. 3. This Act takes effect January 1, 1996.