IN SB0526

Legislative Description

Child care tax credit. Provides a refundable child care tax credit against state income tax liability if the taxpayer's adjusted gross income for the taxable year is not more than $37,000. Provides that the credit is equal to the lesser of: (1) an amount ranging from $50 to $500, depending on the taxpayer's adjusted gross income; or (2) 20% of the taxpayer's employment related child care expenses.

Last Action

Committee Referrals