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BILL AS INTRODUCED 2007-2008

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H.37

Introduced by   Representatives Donahue of Northfield, Branagan of Georgia, Brennan of Colchester, Brooks of Montpelier, Clark of Vergennes, Grad of Moretown, Kitzmiller of Montpelier, McAllister of Highgate and Winters of Williamstown

Referred to Committee on

Date:

Subject:  Income tax credit; home child care

Statement of purpose:  This bill would provide a home child care credit against income taxes paid by parents who choose to care for a child under the age of six years at home.  

AN ACT RELATING TO AN INCOME TAX CREDIT FOR HOME CHILD CARE

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  32 V.S.A. § 5829 is added to read:

§ 5829.  CREDIT FOR HOME CHILD CARE

A taxpayer of this state with federal adjusted gross income less than $40,000.00 (or $50,000.00 for married filing jointly) for the taxable year who cared for a young child at home on a daily basis and did not place the child in a day care program outside the home and who is a parent or legal guardian of the child shall be eligible for a $1,000.00 refundable credit against the tax imposed under section 5822 of this title.  “Young child” in this section means a child who at any time during the taxable year was under the age of six years.  A credit under this section shall be in lieu of any other child or dependent care credit available under this chapter.

Sec. 2.  EFFECTIVE DATE

This act shall apply to taxable years beginning on and after January 1, 2007.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us