A bill to amend the Internal Revenue Code of 1954 to increase the amount of the expenses for household and dependent care services necessary for gainful employment which may be taken into account for computing a tax credit, and to include certain organizations providing dependent care within the definition of tax-exempt organization under such Code.

Summary

Amends the Internal Revenue Code to increase the income tax credit for child care expenses from a maximum of 30 percent to a maximum of 50 percent of such expenses. Reduces such percentage by one percent for each full $1,000 by which the taxpayer's adjusted gross income exceeds $10,000. Grants tax-exempt status to organizations which provide nonresidential dependent care services to the general public for purposes of enabling individuals to maintain employment.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 27 February 1984

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 27 February 1984

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 February 1984

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 27 February 1984

  Open at official source

Sponsors

• Rep. Mazzoli, Romano L. [D-KY-3] · D · Sponsor
• · hswm00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to increase the amount of the expenses for household and dependent care services necessary for gainful employment which may be taken into account for computing a tax credit, and to include certain organizations providing dependent care within the definition of tax-exempt organization under such Code.