A bill to amend the Internal Revenue Code of 1954 to increase the amount of the credit for household and dependent care services, and for other purposes.

Summary

Amends the Internal Revenue Code to increase the amount of the income tax credit for household and dependent care services 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. Makes such credit refundable. Allows such credit to be claimed on the short tax return form. 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. 25 May 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 25 May 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 1 June 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 25 May 1983

  Open at official source

Sponsors

• Sen. Metzenbaum, Howard M. [D-OH] · D · Sponsor
• Sen. Hawkins, Paula [R-FL] · R · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Cosponsor
• Sen. Cranston, Alan [D-CA] · D · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• Rep. Andrews, Mark [R-ND-At Large] · R · Cosponsor
• Sen. Sasser, Jim [D-TN] · D · Cosponsor
• Rep. Tsongas, Paul E. [D-MA-5] · D · Cosponsor
• Sen. Heinz, John [R-PA] · R · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.