1. Short title This Act may be cited as the Child Care Investment Act of 2023 . 2. Expansion employer-provided child care credit (a) Increase of amount of qualified child care expenditures taken into account Section 45F(a)(1) of the Internal Revenue Code of 1986 is amended by striking 25 percent and inserting 50 percent . (b) Increase of maximum credit amount Section 45F(b) of such Code is amended by striking $150,000 and inserting $500,000 . (c) Treatment of jointly owned or operated childcare facility Section 45F(c)(1) of such Code is amended by adding at the end the following new subparagraph: (C) Jointly owned or operated childcare facility For purposes of subparagraph (A)(i)(I), a qualified childcare facility shall not fail to be treated as being of the taxpayer merely because such facility is jointly owned or operated by the taxpayer and other persons. . (d) In-Home childcare service expenses eligible for credit Section 45F(c)(1)(A)(iii) of such Code is amended by striking facility and inserting provider . (e) Special rule for small businesses Section 45F(e) of such Code is amended by adding at the end the following new paragraph: (4) Small businesses In the case of a taxpayer that meets the gross receipts test of section 448(c), determined after substituting 5-taxable-year for 3-taxable-year in such section and 5-year for 3-year each place such term appears in paragraph (3)(A) of such section— (A) subsection (a)(1) shall be applied by substituting 60 percent for 50 percent , and (B) subsection (b) shall be applied by substituting $600,000 for $500,000 . . (f) Effective date The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this section. 3. Increase in amount excludable for dependent care assistance programs (a) Section 129(a)(2)(A) of the Internal Revenue Code of 1986 is amended by striking $5,000 ($2,500 and inserting the applicable limitation amount (half such amount . (b) Section 129(a)(2) of such Code is amended by adding at the end the