S. 2030 · 108th Congress
A bill to amend the Internal Revenue Code of 1986 to make the dependent care credit refundable.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SnoweSponsorNo cosponsors.
Amends the Internal Revenue Code to repeal the nonrefundable income tax credit for employment-related dependent care expenses and replace it with a refundable 50 percent income tax credit, reduced (but not below 20 percent) as the taxpayer's adjusted gross income exceeds $15,000 (adjusted for inflation).
What it does: CRS summary · Introduced in Senate · Jan 26, 2004
Amends the Internal Revenue Code to repeal the nonrefundable income tax credit for employment-related dependent care expenses and replace it with a refundable 50 percent income tax credit, reduced (but not below 20 percent) as the taxpayer's adjusted gross income exceeds $15,000 (adjusted for inflation). Limits the dollar amount of such credit to $3,000 ($6,000 if two or more qualifying individuals). Includes within the scope of the new credit up to $1,200 ($2,400 if two or more qualifying individuals) of respite care expenses incurred for the taxpayer's spouse and dependents who are physically or mentally incapable of self-care.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to make the dependent care credit refundable.
Latest action (Jan 26, 2004): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 26, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.