HR 1492 114th Congress House

Child CARE Act

Official title: To amend the Internal Revenue Code of 1986 to increase and improve the credit for dependent care expenses and to provide a credit for education of employees of child care centers.

Introduced: March 19, 2015 See on congress.gov

Taxation Child care and developmentIncome tax creditsInflation and pricesTeaching, teachers, curricula

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 19, 2015

Referred to the House Committee on Ways and Means.

Mar 19, 2015

Introduced in House

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Latest action March 19, 2015

Referred to the House Committee on Ways and Means.

Plain-English summary Congressional Research Service

Child Care Access and Refundability Expansion Act or the Child CARE Act

This bill amends the Internal Revenue Code, with respect to the tax credit for employment-related expenses incurred for the care of a taxpayer's dependent, to: (1) make such credit refundable, (2) deny such credit for services provided outside the United States, (3) increase the dollar limit on the allowable amount of such credit and the percentage rate for qualified expenses, (4) deny such credit for taxpayers whose adjusted gross income exceeds $200,000 in a taxable year; and (5) allow an annual inflation adjustment to the threshold amount for reducing such credit and the maximum allowable credit amount, beginning after 2015.

The bill also allows a new tax credit for 50% of the child care educational expenses, up to a maximum of $1,000 in any taxable year, paid with respect to the operation of a qualified child care center.

Bill text 1 version