AK HB121

Expands education tax credits under AS 21.96.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, AS 43.65.018, and AS 43.75.018 to include three new categories of child care-related expenditures and contributions.

Allows tax credits for expenditures made to operate a child care facility in the state for employees' children.

Allows tax credits for contributions of cash or equipment accepted by nonprofit child care facilities in the state that serve one or more employees' children.

Allows tax credits for payments made by employers to employees to offset their child care costs incurred in the state.

Effective date: January 1, 2022.