SENATE BILL 491

File Code: Taxes - Income Prior Year Introduction As: HB 171/02 - W&M Crossfiled with: HOUSE BILL 988

Sponsored By:

Senator Pipkin

Entitled:

Tax Credit for Cost of Employee Child Care Expenses

Synopsis:

Allowing a credit against the State income tax for costs incurred by an employer for child care expenses of an employee who works or resides in the State and whose income is at or below the median income for the State if the employer pays at least 10% of the employee's child care expenses; and providing that the credit may not exceed the State income tax for that taxable year and that any unused credit may not be carried over to any other taxable year.

History by Legislative Date

Senate Action

1/31

First Reading Budget and Taxation

2/7

Hearing 2/19 at 1:30 p.m.

House Action

No Action

Bill indexed under the following Subjects:

DAY CARE

INCOME TAX

TAX CREDITS -see also- CIRCUIT BREAKER

WORK, LABOR AND EMPLOYMENT -see also- COL BARG; HOLIDAY; etc

Bill affects the following Statute:

Tax - General

( 10-725 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered