House File 2317 H-8020 Amend House File 2317 as follows: 1 1. Page 19, after line 30 by inserting: 2 < DIVISION ___ 3 CHILD AND DEPENDENT CARE TAX CREDIT 4 Sec. ___. Section 422.12C, subsection 1, Code 2022, 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 forty-five thousand 15 dollars or less, one hundred percent. 16 b. For a taxpayer with net income exceeding forty-five 17 thousand dollars but not exceeding fifty thousand dollars, 18 eighty-eight percent. 19 c. For a taxpayer with net income exceeding fifty thousand 20 dollars but not exceeding sixty thousand dollars, seventy-five 21 percent. 22 d. For a taxpayer with net income exceeding sixty thousand 23 dollars but not exceeding seventy thousand dollars, sixty-three 24 percent. 25 e. For a taxpayer with net income exceeding seventy thousand 26 dollars but not exceeding eighty thousand dollars, fifty 27 percent. 28 f. For a taxpayer with net income exceeding eighty thousand 29 dollars but not exceeding ninety thousand dollars, thirty-eight 30 percent. 31 g. For a taxpayer with net income exceeding ninety thousand 32 dollars but not exceeding one hundred thousand dollars, 33 twenty-five percent. 34 h. For a taxpayer with net income exceeding one hundred 35 -1- HF 2317.3164 (2) 89 jm/jh 1/ 2 #1.

thousand dollars but not exceeding one hundred twenty-five 1 thousand dollars, thirteen percent. 2 i. For a taxpayer with net income exceeding one hundred 3 twenty-five thousand dollars but not exceeding one hundred 4 fifty thousand dollars, ten percent. 5 j. For a taxpayer with net income exceeding one hundred 6 fifty thousand dollars but not exceeding one hundred 7 seventy-five thousand dollars, five percent. 8 k. For a taxpayer with net income exceeding one hundred 9 seventy-five thousand dollars but not exceeding two hundred 10 thousand dollars, three percent. 11 l. For a taxpayer with net income exceeding two hundred 12 thousand dollars but not exceeding two hundred fifty thousand 13 dollars, two percent. 14 m. For a taxpayer with net income exceeding two hundred 15 fifty thousand dollars, zero percent. > 16 2. By renumbering as necessary. 17 ______________________________ JAMES of Dubuque -2- HF 2317.3164 (2) 89 jm/jh 2/ 2 #2.