MN HF3043

Increases minimum wage rates effective September 1, 2012: large employers must pay $9.50 per hour (previously $6.15), small employers $8.25 per hour (previously $5.25), and workers under 20 years old $7.50 per hour during their first 90 days of employment.

Removes appropriation caps on child care assistance program funding and eliminates the "portability pool" system, instead requiring counties to admit families relocating from other counties if they meet income and eligibility guidelines and notify within 60 days.

Expands the working family tax credit by increasing credit percentages for all income categories: from 1.9125% to 2.16% for individuals with no qualifying children, 8.5% to 9.6% for one child, and 10% to 11.3% for two or more children.

Creates a new child care tax credit allowing individuals to claim 50 percent of the federal child credit under Internal Revenue Code section 24, with refundable excess amounts paid by the state general fund.

Increases child care assistance eligibility income threshold from 67 percent to 76 percent of state median income (adjusted for family size) and requires the basic sliding fee program funding to be included in state budget forecasts.