Bill > S09404

This bill establishes a supplemental household and dependent care credit payment for taxpayers who are eligible for certain household and dependent care services necessary for gainful employment. Starting in tax year 2024, the bill requires the Commissioner to issue a payment equal to 15% of the taxpayer's actual credit amount under the existing household and dependent care services credit. If the credit amount exceeds the taxpayer's tax for the year, the excess will be treated as an overpayment to be credited or refunded, though no interest will be paid on it.