A. There shall be a credit against any Louisiana individual or corporation income tax or corporation franchise tax for a child care provider refundable as provided for in La. Rev. Stat. 47:6108. The tax credit shall be an amount based upon the average monthly number of children who either participate in the Child Care Assistance Program administered by the office of children and family services in the Department of Children and Family Services or who are foster children in the custody of the Department of Children and Family Services, and who are attending a child care facility or facilities operated by the child care provider, multiplied by an amount which shall be based upon the quality rating of each child care facility operated by the child care provider as follows:

            Quality Rating of Child Care Facility            Tax Credit Per Eligible Child Attending

                  Five star                                                    $1,500

                  Four star                                                   $1,250

                  Three star                                                  $1,000

                  Two star                                                   $ 750

                  One star or nonparticipating facility         0

            B. Commencing no later than January 31, 2016, the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs shall review the credit authorized pursuant to the provisions of this Section to determine if the economic benefit provided by such credit outweighs the loss of revenue realized by the state as a result of awarding such credit. The House and Senate committees shall make a specific recommendation no later than March 1, 2017, to either continue the credit or to terminate the credit.

            Acts 2007, No. 394, §1, eff. July 10, 2007; Acts 2015, No. 357, §1, eff. June 29, 2015.