HB 188 Summary

• Expands education tax credits to include employer-provided child care by allowing taxpayers to claim credits for expenditures made to operate child care facilities for their employees' children.

• Allows tax credits for contributions of cash or equipment to nonprofit child care facilities attended by employees' children across multiple tax codes (corporate, individual income, oil/gas, property, mining, and fisheries taxes).

• Permits tax credits for direct payments made by employers to employees specifically to offset the employees' child care costs.

• Applies the new child care-related credit provisions across seven different Alaska tax statutes affecting various business and taxpayer types.

• Takes effect January 1, 2021.