HI HB514

Establishes a 25% income tax credit for employers who create on-site group child care centers, with annual caps on individual credits and total statewide credits (specific dollar amounts left blank in bill text).

Requires on-site facilities to be licensed by the Department of Human Services and accredited by a recognized national early childhood accrediting agency within two years of operation.

Mandates facilities operate for a minimum of 10 years or credits may be recaptured, with exceptions for reasonable cause such as natural disasters or temporary closures for refurbishment.

Creates one full-time coordinator position in the Executive Office on Early Learning to assist with licensure, accreditation, and facility design of employer-sponsored child care centers.

Applies to taxable years beginning after December 31, 2021, with effective date of July 1, 2050.