§ 44-47-1 - Tax credit. - Rhode Island Statutes

SECTION 44-47-1

   § 44-47-1  Tax credit. – (a) A taxpayer that pays for or provides adult or child day care services toits employees or to the employees of its commercial tenants, or that providesreal property or dedicates rental space for child day care services, is alloweda credit, to be computed as provided in this chapter, against the tax imposedby chapters 11 and 13, except § 44-13-13, and chapters 14, 17, 30 of thistitle. The amount of the credit shall be:

   (1) Thirty percent (30%) of the total amount expended in thestate of Rhode Island during the taxable year by a taxpayer for day careservices purchased to provide care for the dependent children or dependentadult family members of the taxpayer's employees or employees of commercialtenants of the taxpayer during the employees' hours of employment;

   (2) Thirty percent (30%) of the total amount expended duringthe taxable year by a taxpayer in the establishment and/or operation of a daycare facility in the state of Rhode Island used primarily by the dependentchildren of the taxpayer's employees or employees of commercial tenants of thetaxpayer during the employees' hours of employment;

   (3) Thirty percent (30%) of the total amount expended duringthe taxable year by a taxpayer in conjunction with one or more other taxpayersfor the establishment and/or operation of a day care facility in the state ofRhode Island used primarily by the dependent children of the taxpayer'semployees or employees of commercial tenants of the taxpayer during thatemployee's hours of employment;

   (4) Thirty percent (30%) of the total amount foregone in rentor lease payments related to the dedication of rental or lease space to childday care services. The amount foregone shall be the difference between fairmarket rental and actual rental.

   (b) No credit shall be allowed pursuant to this chapterunless the child day care facility is licensed pursuant to chapter 72.1 oftitle 42, and agrees to accept children whose child care services are paid forin full or in part by the Rhode Island department of human services; and/or theadult day care facility is certified by the department of elderly affairs.