NJ S4829

Employers may claim a tax credit equal to 50% of eligible child care expenses, up to $100,000 per tax year, for costs including building or renovating child care facilities, operating on-site child care centers, contracting with child care providers, or subsidizing employees' child care costs

The total combined tax credits available under this program are capped at $10 million per year across all participating employers subject to either the Corporation Business Tax or Gross Income Tax

Qualified child care centers must be licensed by the Department of Children and Families and primarily serve children under age 13 of the employer's workers, with enrollment open to employees without discriminatory restrictions

Tax credits may be carried forward for up to seven years if unused, and employers may sell tax credits to other taxpayers through a transfer certificate for at least 75% of the credit's value

The Commissioner of Labor and Workforce Development must conduct annual evaluations of the program's impact on child care availability and employee satisfaction, reporting findings and improvement recommendations to the Governor and Legislature