[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 399 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 399

 To amend the Internal Revenue Code of 1986 to increase the child care 
                credit for lower-income working parents.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

 Mr. Solomon 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 increase the child care 
                credit for lower-income working parents.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Child Care Tax Credit Reform Act of 
1993''.

SEC. 2. CHILD CARE CREDIT AMENDMENTS.

    (a) Increase in Amount of Employment-Related Expenses Taken Into 
Account.--
            (1) 1 qualifying individual.--Paragraph (1) of section 
        21(c) of the Internal Revenue Code of 1986 (relating to dollar 
        limit on amount creditable) is amended by striking ``$2,400'' 
        and inserting ``$3,600''.
            (2) 2 or more qualifying individuals.--Paragraph (2) of 
        section 21(c) of such Code (relating to dollar limit on amount 
        creditable) is amended by striking ``$4,800'' and inserting 
        ``$5,400''.
    (b) Denial of Credit to Taxpayers Whose Adjusted Gross Income is 
$50,000 or More.--Paragraph (1) of section 21(a) of the Internal 
Revenue Code of 1986 (allowing credit generally) is amended by 
inserting ``whose adjusted gross income for the taxable year is less 
than $50,000, and'' before ``who''.
    (c) Decrease in Percentage of Employment-Related Expenses Taken 
Into Account by Taxpayers Whose Adjusted Gross Income Exceeds 
$28,000.--Paragraph (2) of section 21(a) of the Internal Revenue Code 
of 1986 (defining applicable percentage) is amended by striking ``(but 
not below 20 percent)''.
    (d) Effective Date.--The amendments made by subsections (a), (b), 
and (c) shall apply to taxable years beginning after December 31, 1993.

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