Providing tax credit to corporations for existing employer-provided child care facilities

SB 621 creates a tax credit for West Virginia corporations that operate existing employer-provided or employer-sponsored child care facilities on workplace premises. It allows corporations to claim a credit equal to 100% of their annual operational costs (excluding property costs) for these facilities, minus any amounts paid by employees. The credit is limited to the corporation’s tax liability for the year and can be carried forward up to five years if unused. This bill directly affects businesses operating qualifying on-site child care, providing a financial incentive to maintain or expand such services.