Senate File 619 H-1520 Amend Senate File 619, as amended, passed, and reprinted by 1 the Senate, as follows: 2 1. Page 1, by striking lines 9 through 34 and inserting: 3 < CHILD AND DEPENDENT CARE TAX CREDIT 4 Sec. ___. Section 422.12C, subsection 1, Code 2021, is 5 amended by striking the subsection and inserting in lieu 6 thereof the following: 7 1. The taxes imposed under this subchapter, less the amounts 8 of nonrefundable credits allowed under this subchapter, shall 9 be reduced by a child and dependent care credit equal to the 10 following percentages of the federal child and dependent care 11 credit provided in section 21 of the Internal Revenue Code, 12 without regard to whether or not the federal credit was limited 13 by the taxpayer’s federal tax liability: 14 a. For a taxpayer with net income of less than forty-five 15 thousand dollars, one hundred percent. 16 b. For a taxpayer with net income of forty-five thousand 17 dollars or more but less than ninety thousand dollars, thirty 18 percent. 19 c. For a taxpayer with net income of ninety thousand dollars 20 or more but less than one hundred thousand dollars, twenty-five 21 percent. 22 d. For a taxpayer with net income of one hundred thousand 23 dollars or more but less than one hundred twenty-five thousand 24 dollars, twenty percent. 25 e. For a taxpayer with net income of one hundred twenty-five 26 thousand dollars or more but less than one hundred fifty 27 thousand dollars, fifteen percent. 28 f. For a taxpayer with net income of one hundred fifty 29 thousand dollars or more but less than one hundred seventy-five 30 thousand dollars, ten percent. 31 g. For a taxpayer with net income of one hundred 32 seventy-five thousand dollars or more but less than two hundred 33 fifty thousand dollars, five percent. 34 h. For a taxpayer with net income of two hundred fifty 35 -1- SF 619.2582 (4) 89 jm/jh 1/ 2 #1.