|HB 0689||Relating to Tax Credit for Child Care Expenses|
|Sponsor:||MURPHY||Handling House Bill:|
|Last Action:||02/28/95 - Referred H Ways and Means Committee|
HB0689 Murphy, Jim
P R E F I L E D
HB 689 -- Income Tax
This bill allows a state income tax credit in an amount equal to a taxpayer's dependent care credit allowed on the federal income tax return. In addition, taxpayers who are not eligible for a federal dependent care tax credit and have one or more dependents who are six years of age or younger will be allowed a state income tax credit in an amount equal to the maximum federal child care credit if they file a joint federal return and did not participate in a dependent care assistance program.
This bill becomes effective January 1, 1996, and applies to all taxable years beginning after December 31, 1995.