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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Investment in Children Act of 1998

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to increase the credit for dependent care services necessary for gainful employment and to provide an equivalent benefit for families where one parent stays at home to provide childcare for a child under the age of 4 and to amend the Social Security Act to provide grants to States to improve the quality and availability of child care, and for other purposes.


Actions Overview (1)

Date
02/26/1998Introduced in House

All Actions (7)

Date
03/16/1998Referred to the Subcommittee on Early Childhood, Youth and Families.
Action By: Committee on Education and the Workforce
03/04/1998Referred to the Subcommittee on Human Resources.
Action By: Committee on Ways and Means
02/26/1998Referred to House Education and the Workforce
Action By: House of Representatives
02/26/1998Referred to House Ways and Means
Action By: House of Representatives
02/26/1998Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
02/26/1998Sponsor introductory remarks on measure. (CR E239-240)
Action By: House of Representatives
02/26/1998Introduced in House
Action By: House of Representatives

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means02/26/1998 Referred to
House Ways and Means Subcommittee on Human Resources03/04/1998 Referred to
House Education and the Workforce02/26/1998 Referred to
House Education and the Workforce Subcommittee on Early Childhood, Youth and Families03/16/1998 Referred to

No related bill information was received for H.R.3292.


Latest Summary (1)

There is one summary for H.R.3292. View summaries

Shown Here:
Introduced in House (02/26/1998)

Investment in Children Act of 1998 - Amends the Internal Revenue Code (IRC) to increase the credit for dependent care services necessary for gainful employment. Provides for an "increased dependent care credit equivalent amount" (as defined) if the taxpayer has a child under the age of four, but only if the taxpayer elects not to use the credit for dependent care services necessary for gainful employment.

(Sec. 3) Allows for an employer-provided child care credit of up to 25 percent of qualified child care expenditures (not to exceed $150,000), which can include the costs of acquiring or expanding property to be used as a qualified day care facility.

(Sec. 4) Amends part A ( Block Grants to States for Temporary Assistance for Needy Families) of title IV of the Social Security Act to provide for grants to States: (1) to improve the quality and safety of child care; (2) for the provision of child care assistance for low-income working families; and (3) for the provision of child care services before and after regular school hours.

(Sec. 5) Authorizes appropriations through FY 2003 for part I (21st Century Community Learning Centers Act) of title X of the Elementary and Secondary Education Act of 1965. Sets forth provisions concerning the distribution of assistance under part I.

(Sec. 6) Revises IRC provisions concerning the aggregate amount of nonrefundable personal credits allowed to provide that the aggregate amount of such credits allowed shall not exceed the sum of: (1) the taxpayer's regular tax liability; plus (2) the alternative minimum tax.