SB 3014 Summary

• Establishes a 25% income tax credit for employers who create on-site early childhood facilities, with an annual per-employer cap and total state cap on credits (amounts left blank in bill).

• Requires facilities to be licensed by the Department of Human Services and accredited by a recognized national early childhood accrediting agency within two years of opening to qualify for the credit.

• Credit is recaptured (100% repayment required) if the facility operates for fewer than 10 years, unless closure results from going out of business, natural disaster, or temporary refurbishment.

• Creates one full-time equivalent coordinator position in the Executive Office on Early Learning to assist with licensure, accreditation, and facility design for employer-sponsored early childhood facilities.

• Applies to qualified costs incurred beginning January 1, 2021, with the bill taking effect July 1, 2051.