An Act To Attract Young Families to Maine and Keep Young Families in Maine by Expanding the Child Care Tax Credit
Sec. 1. 36 MRSA §5218, as amended by PL 2005, c. 519, Pt., DD, §§1 to 3, is further amended to read:
§ 5218. Income tax credit for child care expenses before 2015
Sec. 2. 36 MRSA §5218-A is enacted to read:
§ 5218-A. Income tax credit for child care expenses beginning in 2015
This bill amends the income tax credit for child care expenses by increasing the credit from 25% of the federal tax credit allowable for child and dependent care expenses to 100% of that federal tax credit for tax years beginning on or after January 1, 2015. This bill also makes the credit completely refundable.