Income taxes: credit: dependent care.

The Personal Income Tax Law, in modified conformity to federal income tax law, authorizes a credit for household and dependent care expenses necessary for gainful employment, as provided. The amount of the credit is a percentage of the allowable federal credit determined on the basis of the amount of federal adjusted gross income, up to $100,000. This bill, for taxable years beginning on or after January 1, 2015, would increase that amount of federal adjusted gross income, up to $250,000, and would increase the amount of employment-related expenses incurred during a taxable year which may be taken into account in determining the amount of the credit from $3,000 to $4,000 if there is one qualifying dependent and from $6,000 to $12,000 if there are 2 or more qualifying dependents. This bill would take effect immediately as a tax levy.