Indiana lawmakers are to consider improving child care access by creating a tax credit in 2023 for employers who help provide those services.
Indiana Legislature Aims To Improve Child Care Tax Credit 2023 (PHOTO: Fox 59)
Child Care Tax Credit 2023 In Indiana
A Statehouse proposal known as Senate Bill 186 would provide a tax credit to company owners who provide child care tax credit in 2023 to their employees by opening their centers. Some small firms could also qualify by paying for tuition at a center that already exists. The tax credit would fund up to 50% of expenses.
Miriel McFarland a co-owner of Instrumental Machine & Development, which manufactures orthopedic instruments in Warsaw said that “Doing the right thing can be expensive, and it can be a long, bureaucratic process.” McFarland testified in support of the bill at the Statehouse Thursday. The lack of child care access in her area is why some people have turned down her company or declined a job offer, she said.
The Goal Of Senate Bill 186
Moreover, McFarland’s business decision to open its child care center. The company owns the building, works with a provider to operate the center, and pays nearly two-thirds of each child’s tuition, she said. The center opened in January.
That’s the goal of Senate Bill 186, according to State Sen. Kyle Walker (R-Fishers), the bill’s author. But some say the legislation is only one step toward improving the access to child care tax credits in 2023.
State Sen. Fady Qaddoura (D-Indianapolis), a co-author on the bill, said he would like to see lawmakers do more to expand capacity, targeting child care deserts like rural areas. Walker said he is intending to introduce some modifications to the bill, including a potential limit on the tax credit. The Senate Appropriations committee could vote on the bill as shortly as next week.
READ ALSO:
What You Need To Know About Child Tax Credit?
Top Officials In Ohio Ask The General Assembly To Expand Child Tax Credit
