HB 644 Summary

• Establishes an income tax credit for transportation network companies and taxicab operators that establish and operate a car seat program providing vehicles equipped with child passenger restraint systems meeting federal motor vehicle safety standards.

• Allows qualified taxpayers to claim a tax credit equal to qualified expenses incurred to establish and operate the car seat program, up to a maximum amount to be determined (specific dollar amount not filled in the bill text).

• Permits unused tax credits to be carried forward and applied against income tax liability in subsequent years until exhausted, with a deadline of twelve months following the close of the taxable year to file claims.

• Increases the existing child passenger restraint system tax credit from $25 per system to an unspecified higher amount and modifies language to clarify the credit applies to each new restraint system purchased.

• Applies to taxable years beginning after December 31, 2018.