ATLANTA — With help from three northeast Georgia-area state Senators, the Georgia Senate passed a bill that would create a new child care income-tax credit.
SB 89 was introduced by Brian Strickland (R-McDonough, 42nd District) and co-sponsored by Senators Bo Hatchett (R-Clarkesville, Senate 50), Drew Echols (R-Alto, Senate 49), and Bill Cowsert (R-Athens, Senate 46).
The proposed bill sailed through the Senate unanimously on Wednesday and now heads to the House of Representatives.
The basics of the bill “would increase the amount of a tax credit based on the federal tax credit for certain child and dependent care expenses to 40 percent of such federal tax credit [and] provide for a child income tax credit.” It would establish a $250 income tax credit for parents of children under 7-years-old.
It also would increase the state’s existing tax credit for child care income-tax credit, which is linked to the federal tax credit of $3,000, and raise the state’s credit from 30 percent to 40 percent.
Employers also would be incentivized to offer child care, increasing an existing credit of up to 75 percent of their operating expenses to 90 percent.
