What would HB 89 Workforce Development Incentives do?
HB 89 directs the Governor’s Office of Economic Development (GOED) to consider, as part of any applications for economic development incentives, whether a company has in place a robust plan for Working Parent Benefits. Companies can receive an income tax credit for providing childcare on site or close by, paid family care leave, flexible hours, partnerships with childcare entities to ensure placement, and a flexible spending account for childcare. HB 89 will help businesses address the persistent workforce need for affordable child care solutions
What would HB 187 Employer Tax Credit for Child Care do?
HB 187 would create a state income tax credit and other incentives to any employer providing or subsidizing child care for its employees during their working hours. Care facilities must be licensed by the state and the credit will be equal to 50% of the qualified child care expenses. The bill creates a cap of $50,000 per business. Statewide, $500,000 would be offered in credits annually through the Governor’s Office of Economic Development until the program sunsets in five years or is extended. HB 187 rewards businesses for becoming part of the childcare solution to build a prosperous economy and strong workforce.