2002 Regular Session

SENATE BILL 553

File Code: Taxes - Income Crossfiled with: HOUSE BILL 207
Sponsored By:
Senators Van Hollen, Currie, Forehand, Frosh, Lawlah, and McFadden
Entitled:
Income Tax - Credit for Child and Dependent Care Expenses

Synopsis:

Altering the State income tax credit for child and dependent care expenses to equal 50% of the federal child and dependent care credit, increasing the credit by 10% each year until reaching 100% of the federal credit; increasing from $50,000 to $70,000 the maximum income for eligibility for the credit and from $25,000 to $35,000 in the case of a married individual filing a separate return; altering income levels at which the credit is phased out; applying the Act to tax years after 2001; etc.

History by Legislative Date

Senate Action
2/1
First Reading Budget and Taxation
2/5
Hearing 2/13 at 1:30 p.m.
3/21
Unfavorable Report by Budget and Taxation
House Action
No Action
Sponsored by:
Senator Christopher Van Hollen, Jr., District 18
Senator Ulysses Currie, District 25
Senator Jennie M. Forehand, District 17
Senator Brian E. Frosh, District 16
Senator Gloria Lawlah, District 26
Senator Nathaniel J. McFadden, District 45
Bill indexed under the following Subjects:
DAY CARE
INCOME TAX
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statute:
Tax - General
( 10-716 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered