HB 4191
Relating to providing child care generally
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to increase the tax credit available to West Virginia employers who provide or sponsor child care for their employees. Specifically, it expands the existing credit for capital investment in child-care property and adds a credit for operating costs. The bill also includes recapture provisions for previously claimed credits and establishes rules for non-profit corporations to transferrable credits. The goal is to encourage employers to offer childcare benefits to their workforce.
Key provisions
- Increases the tax credit for employers providing child care for employees.
- Expands the tax credit for capital investment in qualified child-care property.
- Introduces a new tax credit for employer-provided operating costs of child care facilities.
- Establishes recapture percentages for previously claimed credits.
- Allows for the transfer of credits from non-profit corporations to other taxpayers.
- Defines key terms such as ‘qualified child-care property’ and ‘cost of operation.’
- Specifies limitations on the total amount of credits that can be claimed.
- Requires employers to provide detailed information about child-care facilities when claiming credits.
Who is affected
- Employers in West Virginia
- Employees of West Virginia employers
- West Virginia State Tax Department
- Non-profit corporations providing child care
Notable changes
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