Increases the aggregate funds available for the child care tax credit

This bill increases the total amount of money available for the child care tax credit from twenty-five million to fifty million dollars per year for the 2023 and 2024 tax years. The change directly affects businesses that provide child care services, allowing them to claim larger tax credits to offset costs. The Office of Temporary and Assistance Services will distribute these credits on a pro rata basis to eligible companies that meet the requirements set by the state. By raising the funding cap, the legislation aims to expand financial support for child care providers without altering the specific rules for who qualifies.