To amend the Internal Revenue Code of 1986 to make the dependent care credit refundable, and for other purposes.

Summary

Repeals the Internal Revenue Code's nonrefundable income tax credit for employment-related dependent care expenses, replacing it with a corresponding refundable 50 percent credit, reduced (but not below 20 percent) as the taxpayer's adjusted gross income exceeds $30,000 (adjusted for inflation). Includes within the scope of the new credit up to $4,000 ($8,000 in the case of two or more qualifying individuals) of respite care expenses incurred in the care of: (1) a dependent of the taxpayer who is under the age of 13 years old; (2) a dependent who is physically or mentally incapable of self-care; or (3) a spouse who is physically or mentally incapable of self-care.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 November 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 17 November 1999

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• Introduced in House

  summary · EN · 17 November 1999

  Open at official source

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