21st Century Child Care Investment Act

Summary

21st Century Child Care Investment Act This bill amends the Internal Revenue Code to allow a tax credit for employment-related expenses for services provided by a high quality child care center. The credit applies to taxpayers with adjusted gross incomes below specified levels and is limited to: (1) $14,000 for each qualifying child who is under the age of three by the end of the year; and (2) $5,000 for each qualifying child who has attained the age of three by the end of the year, with adjustments for inflation after 2017. A "qualifying child" is a dependent who is under the age of five. The care must be provided by a facility that: (1) receives a fee, payment, or grant for providing care for children (other than just children who reside at the facility and regardless of whether such facility is operated for profit); and (2) meets state licensing requirements. For taxable years beginning more than five years after enactment of this bill, the facility must also: (1) meet high quality rating requirements under the quality rating and improvement system of the state in which the care is provided, and (2) be certified by the Department of Health and Human Services. A portion of the high quality child care tax credit is refundable, depending on the adjusted gross income of the taxpayer. The Department of the Treasury must establish a program to, at the election of the taxpayer, make monthly advance payments of the credit directly to a high quality child care center. The bill also makes a portion of the dependent care tax credit refundable.

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Timeline

1. 9 March 2017

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 9 March 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 March 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 9 March 2017 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 March 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 9 March 2017

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 9 March 2017

  Open at official source

Sponsors

• Katherine Clark · D · Sponsor
• RICHARD NOLAN · D · Sponsor
• Linda Sánchez · D · Sponsor
• Barbara Lee · D · Sponsor
• Eric Swalwell · D · Sponsor
• Rep. DeSaulnier, Mark [D-CA-10] · D · Sponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Sponsor
• BOBBY RUSH · D · Sponsor
• Keith Ellison · D · Sponsor
• Rep. Soto, Darren [D-FL-9] · D · Sponsor
• Rep. Cleaver, Emanuel [D-MO-5] · D · Sponsor
• Jerry McNerney · D · Cosponsor
• Sen. Gallego, Ruben [D-AZ] · D · Cosponsor
• Sheila Jackson Lee · D · Cosponsor
• Ed Perlmutter · D · Cosponsor
• James McGovern · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← 21st Century Child Care Investment Act