HI HB938

Establishes an income tax credit equal to 25% of qualified costs for employers who create on-site early childhood facilities, with specific dollar amount caps to be determined (blanks in original bill)

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

Allows the tax credit to be claimed for taxable years beginning after December 31, 2023, with claims due within 12 months following the close of the taxable year

Imposes a 10-year minimum operating requirement for facilities, with recapture of 100% of claimed credits if the facility closes early unless the Department of Human Services certifies reasonable cause

Establishes and appropriates funding for one full-time early childhood facility coordinator position in the Executive Office on Early Learning to assist with licensure, accreditation, and facility design requirements (specific appropriation amount left blank in bill)