SB 646
Relating to WV employer-provided or sponsored child care tax credit program
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill aims to improve and expand West Virginia’s employer-provided or sponsored child care tax credit program. It clarifies eligibility requirements, particularly regarding employer-sponsored child care, allowing it to be located anywhere in the state and not tied to the employer’s workforce. The bill also lengthens the period for carrying forward unused tax credits and allows non-profit corporations to transfer the credit. These changes are intended to maximize the utility and accessibility of the credit for both employers and employees.
Key provisions
- Clarifies that employer-sponsored child care includes licensed third-party providers receiving financial contributions from one or more employers.
- Eliminates the requirement that child care centers primarily serve the children of a sponsoring employer’s workforce.
- Lengthens the carry-forward period for unused tax credits to 20 years.
- Allows employer-sponsored child care to be located anywhere in West Virginia, regardless of proximity to the employer’s workplace.
- Extends the credit to non-profit corporations, allowing them to transfer the credit to other taxpayers.
- Defines ‘Employer Provided’ and ‘Employer Sponsored’ child care.
- Specifies the calculation of the recapture percentage for qualified child-care property.
- Establishes a process for the Tax Commissioner to promulgate rules related to the program.
Who is affected
- Employers
- Employees
- Child Care Providers
- Taxpayers
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours