Summary: H.R.3944 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.3944. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/16/1988)

Amends the Internal Revenue Code to allow an individual taxpayer a refundable income tax credit, in an amount based on adjusted gross income (minimum credit of $150), for each dependent below the age of compulsory school attendance in the State where the taxpayer resides. Sets the maximum credit amount as the total employee tax withheld from the taxpayer's wages during the year under the Federal Insurance Contributions Act.

Disallows application of the nonrefundable dependent care income tax credit with respect to a taxpayer's dependents under age 15, unless the child is physically or mentally incapable of self-care.