Tony Lovasco voted Nay (Passage) on this Legislation.
Title: Establishes State Child Care Tax Credits for Families
Vote to pass a bill that establishes state child care tax credits for low income families in the state of Missouri.
Defines terms related to taxes and childcare (Sec. 1).
Specifies a taxpayer may claim a tax credit authorized in this section against the contribution to a child care provider or intermediary (Sec. 1).
Specifies that child care providers must apply for the program and determine whether they are eligible (Sec. 1).
Requires the child care provider to fill out a form within sixty days of the date it received the contribution (Sec. 1).
Specifies that if there is a failure to fill out the form then there shall be a refund of the contribution (Sec. 1).
Specifies that the tax credit is non refundable and are subject to federal pass through taxation rules with federal income tax law (Sec. 1).
Specifies that the amount of tax credits cannot exceed $20 million dollars per year (Sec. 1).
Title: Establishes State Child Care Tax Credits for Families