Provide tax credits for children and child care

Introduced a new Business-supported dependent care credit allowing employers to receive a tax credit up to $5,000 for dependent care assistance provided to employees.

Updated the definition of 'Child-care worker' to explicitly include tribal child care development programs and clarify eligibility for various facility types.

Corrected formatting issues including inconsistent indentation, capitalization of specific terms, and spacing within existing sections.

A new $1,600 tax credit was created for residents employed as child-care workers.

To qualify for the new credit, workers must be employed for at least six months of the tax year and work a minimum of 20 hours per week.

The definition of 'investment income' was updated to explicitly reference Internal Revenue Code section 32.

The definition of 'child-care worker' was expanded to include employees of tribal child care funds and Head Start or Early Head Start programs.

A new requirement states that for onsite facilities, the credit calculation must be based on service utilization and value.

The child care credit amount was increased from $1,200 to $1,800 per qualifying child.

Income thresholds for the child care credit were updated to include married couples filing jointly and surviving spouses, previously excluded.

The definition of 'child-care worker' was expanded to include employees of tribal child care development funds and Head Start or Early Head Start programs.

Eligibility requirements for the child-care worker credit were updated to align with current state licensing data systems and tribal licensing requirements.

The bill number was changed from LC 0462 to SB 321.1 to reflect its introduction in the Senate.

The list of sponsors was updated to include additional names (J. Kassmier, S. Novak, L. Schubert, etc.) compared to the previous version.