[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 315 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 315

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


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 7, 1997

 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, and for other purposes.

    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 
1997''.

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 (2) of section 21(a) of the Internal 
Revenue Code of 1986 (defining applicable percentage) is amended--
            (1) by striking ``(but not below 20 percent)'' and 
        inserting ``(but not below zero)'', and
            (2) by striking ``1 percentage point for each $2,000 (or 
        fraction thereof)'' and inserting ``1\1/2\ percentage points 
        for each full $2,000''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1997.
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