New tax credits aim to boost childcare affordability for Nebraska families [Video]

LINCOLN, Neb. (KOLN) – Nebraska families now have more resources to help them afford childcare, thanks to three new funding sources.

The Child Care Tax Credit Act offers tax credits to businesses that donate to childcare programs designed to increase access or affordability for families.

The act also provides a tax credit for parents or guardians with children under five who pay for licensed childcare, potentially offering up to $2,000 depending on family income and the number of children in care.

The School Readiness Tax Credit Act allows childcare providers and professionals to access funds based on participation in state-offered programs or for accepting children on childcare subsidies.

The two acts were created by legislation introduced last year by State Senator Eliot Bostar of Lincoln, and went into effect this year.

“It is essential for a state like Nebraska, which has significant workforce challenges … to be able to maximize the population that is interested in going …