Summary: H.R.6858 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.6858. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/19/1980)

Amends the Internal Revenue Code to provide that taxpayers who incur expenses for the care of a dependent child who is mentally or physically handicapped shall be eligible for the child care expenses credit whether or not the taxpayer incurred such expenses to enable the taxpayer to seek gainful employment or such expenses were incurred outside his household. Increases the amount of expenses which may be considered in determining the amount of the credit. Provides that the earned income limitation shall not apply to taxpayers who provide care for handicapped children.

Grants tax-exempt status to a trust established for the care of a physically or mentally handicapped child of the taxpayer. Allows an income tax deduction for contributions to a child care trust. Limits the amount of such deduction to the lesser of 15 percent of the taxpayer's compensation includable in gross income for the taxable year, or $1,500. Provides that distributions from such a trust shall not be taken into consideration in determining the eligibility of such child for Federal or State assistance.