There is currently a state income tax credit for a monetary contribution made prior to January 1, 2025, to promote child care in the state (credit). The credit is equal to 50% of a qualifying contribution. For income tax years that commence on or after January 1, 2020, the bill:
- Increases the age of a child from 12 to 18 in the definition of "child care", which expands the types of facilities to which a donation would qualify for the credit; and
- Specifies that a monetary contribution to a child advocacy center is a monetary contribution to promote child care in the state.
(Note: This summary applies to this bill as introduced.)