School Readiness Tax Credits (SRTC) are a package of tax credits designed to help promote child care quality and affordability and to increase the income and professional development of the early childhood workforce. Everybody wins –child care centers, parents, and especially children.
Based on a cost-effective and successful model in Louisiana, this package of credits would include:
- A child care expense tax credit (for parents)
- A child care provider tax credit (for centers)
- A tax credit for child care directors and staff (for child care personnel); as well as
- A tax credit for business-supported child care and a tax credit for donations to Resource and Referral agencies (for businesses)
Eligibility for the credits is directly associated with participation and quality rating in South Carolina’s child care Quality Rating and Improvement System (QRIS), making it a targeted investment in quality early childhood care and education.