Personal income taxes: working families child care tax credit.

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. This bill would require, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, for a taxpayer with an allowable credit for household and dependent care expenses necessary for gainful employment in excess of tax liability, a payment from the Tax Relief and Refund Account, a continuously appropriated account, to the taxpayer equal to the amount of the allowable credit that is in excess of tax liability, as provided. By authorizing additional payments from this account, the bill would make an appropriation.