H.R. 6268 (112th): Support Working Parents Act of 2012

112th Congress, 2011–2013. Text as of Aug 01, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 6268

IN THE HOUSE OF REPRESENTATIVES

August 1, 2012

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to repeal the phasedown of the credit percentage for the dependent care tax credit.

1.

Short title

This Act may be cited as the Support Working Parents Act of 2012.

2.

Repeal of phasedown of credit percentage for dependent care credit

(a)

In general

Subsection (a) of section 21 of the Internal Revenue Code of 1986 (relating to expenses for household and dependent care services necessary for gainful employment) is amended to read as follows:

(a)

Allowance of Credit

In the case of an individual for which there are 1 or more qualifying individuals with respect to such individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 35 percent of the employment-related expenses paid by such individual during the taxable year.

.

(b)

Effective Date

The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.