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CA AB2676
Bill
Status
Failed
11/30/2016
Primary Sponsor
Rocky Chavez
Click for details
AI Summary
- Increases the state dependent care tax credit for taxable years beginning January 1, 2016 through December 31, 2018 for taxpayers with adjusted gross income of $70,000 or less
- Raises credit percentage from 43% to 50% for taxpayers with $40,000 to $70,000 in adjusted gross income, and from 34% to 65% for those with $40,000 or less
- Reverts to prior credit percentages (50%, 43%, 34%) for taxable years beginning on or after January 1, 2019
- Maintains existing limitations on employment-related expenses (must be in California) and earned income definitions, including Armed Forces compensation
- Takes effect immediately as a tax levy
Legislative Description
Income taxes: credit: dependent care.
Last Action
From committee without further action.
11/30/2016
Committee Referrals
Appropriations5/12/2016
Revenue and Taxation3/10/2016
Full Bill Text
No bill text available