Authorizes tax credits for child care

SB 1678 creates a tax credit for Missouri taxpayers who contribute to approved child care providers or intermediaries (nonprofits distributing funds to providers). The credit covers 75% of eligible contributions, with a minimum of $100 and maximum of $200,000 per year, but only for funds used to support child care for children 12 and under (e.g., facility upgrades, staff training, or quality improvements). Child care providers must apply to the Missouri Department of Economic Development for approval and verify contributions within 60 days, while taxpayers must receive a documented verification to claim the credit. The credit is non-refundable, cannot be transferred, and may be carried forward for up to six years if unused in the initial tax year.