WI SB376

Creates a nonrefundable Wisconsin state income and franchise tax credit equal to the federal employer-provided child care credit (IRC Section 45F) for taxable years beginning after December 31, 2024

Federal credit allows up to 25% of qualified child care facility expenditures and 10% of child care resource and referral expenditures, with a maximum credit of $150,000

Credit applies only to child care facilities located in Wisconsin and services provided within the state

Requires claimants to repay the state credit amount if they must repay any portion of the federal credit due to facility closure within 10 years of claiming

Applies to individuals, corporations, partnerships, limited liability companies, and tax-option corporations through pass-through provisions