Vote Smart's Synopsis:

Vote to pass a bill that establishes state child care tax credits for low income families in the state of Missouri.

Highlights:

• 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).

Full Bill Text