A bill to amend the Internal Revenue Code of 1986 to make the dependent care credit refundable.
Latest action · Jan 26, 2004 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 26, 2004
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to repeal the nonrefundable income tax credit for employment-related dependent care expenses and replace it with a refundable 50 percent income tax credit, reduced (but not below 20 percent) as the taxpayer's adjusted gross income exceeds $15,000 (adjusted for inflation). Limits the dollar amount of such credit to $3,000 ($6,000 if two or more qualifying individuals). Includes within the scope of the new credit up to $1,200 ($2,400 if two or more qualifying individuals) of respite care expenses incurred for the taxpayer's spouse and dependents who are physically or mentally incapable of self-care.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jan 26, 2004Introduced in Senate
- Jan 26, 2004Read twice and referred to the Committee on Finance.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.