A bill 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 $15,000 (adjusted for inflation). Includes within the scope of the new credit up to $1,200 ($2,400 in the case of more than one qualifying individual) of respite care expenses incurred in the care of: (1) a dependent of the taxpayer who is at least 13 years old; or (2) a spouse or other dependent who is physically or mentally incapable of self-care.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 April 1997

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 April 1997

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 April 1997

  Open at official source

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