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HB18-1208

Expand Child Care Expenses Income Tax Credit

Concerning the expansion of the income tax credit for child care expenses that is a percentage of a similar federal income tax credit.
Session:
2018 Regular Session
Subject:
Fiscal Policy & Taxes

Currently, a resident individual with a federal adjusted gross income of $60,000 or less is allowed a state income tax credit (state credit) for child care expenses that is a percentage of a similar federal income tax credit claimed (federal credit). The amount of the state credit depends on the individual's adjusted gross income (AGI). If the individual's AGI is:

  • $25,000 or less, then the state credit is 50% of the federal credit;
  • $25,001 to $35,000, then the state credit is 30% of the federal credit; and
  • $35,001 to $60,000, then the state credit is 10% of the federal credit.

The bill expands the state credit by allowing a resident individual with an AGI that is less than or equal to $150,000 to claim a credit that is equal to 80% of the individual's federal credit.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. C. Duran, Rep. F. Winter
Sen. B. Martinez Humenik

Sponsor

Co-sponsor

Upcoming Schedule