Provides a tax exemption for property operating as a child day care

This bill creates a 50% property tax exemption for real estate used as a licensed child day care facility, as defined by state social services law. The exemption is optional for local governments - counties, cities, towns, or school districts must pass a local law to adopt it after a public hearing. Property owners operating qualifying day cares would see their tax bill reduced by half, but the exemption ends if the property stops being used for child care. Localities may also choose to limit the exemption to less than 50% through separate local laws.