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- S.654
S.654: A bill to amend the Internal Revenue Code of 1986 to make the dependent care credit refundable, and for other purposes.
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced April 25, 1997
- Latest Major Action April 25, 1997
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill 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...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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April 25, 1997 |
Introduced in the Senate by Olympia J. Snowe (R-Maine) |