Section 1903-K. Employer child care contribution tax credit.
(a) General rule.--For taxable years beginning after December 31, 2024, a qualified taxpayer may claim the employer child care contribution tax credit for a contribution made during the taxable year toward an employee's eligible child-care costs and may apply the tax credit against its qualified tax liability.
(b) Application.--A qualified taxpayer applying to claim an employer child care contribution tax credit must complete and submit to the department a child care contribution tax credit application on a form and in a manner as determined by the department. The form shall require the qualified taxpayer to provide the following:
(1) The names, addresses and Social Security numbers of all employees to which the qualified taxpayer made a contribution during the taxable year.
(2) The names, addresses and employer identification numbers of the child-care providers that provided child-care services to each participating employee.
(3) The amount contributed to each participating employee.
(4) The aggregate contribution.
(c) Amount of tax credit.--The amount of the tax credit under subsection (a) shall be equal to 30% of the aggregate contribution made to employees during the tax year.
(1903-K added July 11, 2024, P.L.674, No.56)