Companies that want to help their employees cover childcare costs can now apply for tax breaks.

If a company opens a child care facility for its employees, a new law signed earlier this year will provide tax credits for each employee of up to $3,600 and a separate tax credit to cover 50% of start-up costs.

A company that helps offset the costs of its employees at a facility in the community may also receive tax credits. The larger the company, the higher the overall credit allowed.

The state has set aside about $5 million in these tax credits each year for the next three years, but after that there are no guarantees – it’s basically either use it or lose it.

“The overall cap this year is $5 million, which is not a large amount, but I think the goal was to get the program started and then maybe address issues after it ends,” said Carolyn Johnson, vice president of government affairs at the Chamber of Commerce at Florida.

For 23 years, the Sunshine State benefited from the child business tax credit, from 1985 to 2008.

Click here for more details.